Press Release Description
Exploring Opportunities: Global Animal Wound Care Market Anticipates 8.5% CAGR Growth
The Global Animal Wound Care Market size was valued at about USD 1.24 billion in 2023 & is anticipated to grow at a CAGR of around 8.5% during the forecast period, i.e., 2024–30, cites MarkNtel Advisors in the recent research report. The animal wound care industry focuses on providing wound care and treatment to pets and animals. This includes veterinary supplies such as dressings, disinfectants, and other relatable products specifically utilized in the treatment of animals. This industry is an important part of veterinary medicine that supports, heals, and recovers injured animals, as well as pet welfare, thus boosting market expansion worldwide.
The advancement in the R&D of veterinary healthcare research, along with increasing investments in animal healthcare, is escalating the requirements for animal wound care products. The surge in investment in animal treatment products & procedures is also prompting manufacturers to explore cost-efficient alternatives without sacrificing quality standards, thus fostering pioneering breakthrough wound care solutions.
Furthermore, governments and regulatory bodies are creating a favorable environment for the growth & expansion of the Animal Wound Care Industry by implementing necessary measures to improve animal health standards. In conclusion, increasing awareness supported by government regulations regarding the welfare of animals is augmenting market growth globally, further states the research report, “Global Animal Wound Care Market Analysis, 2024.”
Global Animal Wound Care Market Segmentation Analysis
Sutures & Staplers to Hold Major Market Share
Based on product, the market is further bifurcated into, surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. Sutures & Staplers are sub-parts of surgical wound care products anticipated to hold a major share of the market. The Sutures and Staplers segment is contributing significantly to the market growth of the animal wound care industry. This increase is mainly driven by the increase in chronic animal diseases and the incidence of veterinary diseases.
Sutures and staplers play an important role in the animal wound care market as they offer beneficial possibilities for the closure of cuts and wounds in veterinary procedures. Sutures and staplers have numerous features and materials that make them uniquely therapeutic, providing veterinarians with comprehensive equipment to achieve high-quality wound closure and accelerate the animal's recovery process.
North America to Lead the Global Animal Wound Care Market
North America is anticipated to record the highest market share in the animal wound care industry during 2024–30. The region’s market growth is propelled by regulatory initiatives, increasing spending on animal health, advancements in the veterinary medical field, etc. Due to these factors, there is a high demand for animal wound care products in North America. Moreover, major research & development work is also revolutionizing the animal wound care industry in the region, which is ultimately anticipated to augment market growth in the coming years.
Global Animal Wound Care Market Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Elanco Animal Health, 3M Company, Medtronic PLC, B. Braun Melsungen Ag, Virbac, Neogen Corporation, Jorgen Kruuse A/S, Sonoma Pharmaceuticals Inc., Ehicon, Inc., Dechra Pharmaceuticals, Jazz Medical, LLC, Smith & Nephew PLC, Care-Tech Laboratories, Inc., and others are looking forward to strengthening their market positions.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the regions?
- How has the industry been evolving in terms of geography, and product & service adoption?
- How has the competition been shaping up across various regions?
- How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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