Global Animal Wound Care Market Sales Revenue to Cross US$ 1 Bn in 2025
A new report published by Persistence Market Research titled “Animal Wound Care Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)” studies the performance of the global animal wound care market over an eight year assessment period from 2017 to 2025. The report presents the value forecast of the global wound care market and provides key insights into the factors driving market growth as well as the factors restricting market growth. The estimates point to a revenue growth from nearly US$ 590 Mn in 2017 to about US$ 1,013 Mn by the end of 2025, resulting in a CAGR of 7.0% over the forecast period.
Global Animal Wound Care Market: Segmentation and Forecast
The report segments the global animal wound care market on the basis of product (Surgical Wound Care, Traditional Wound Care, Advanced Wound Care), and on the basis of end user (Veterinary Hospitals, Veterinary Clinics, Home Care).
- By product, the largest segment in the animal wound care market is the surgical wound care product segment with an overall estimated market value of US$ 359.7 Mn in 2017 and is anticipated to grow at CAGR of 7.0% to reach US$ 616.8 Mn by 2025. Surgical wound care dominated the global animal wound care market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. The segment is projected to be the most attractive market with attractiveness index of 1.8 during the forecast period. Traditional wound care has relative stagnant growth and has an attractiveness index of 0.7. Advanced wound care is expected to be the fastest growing segment with an attractiveness index of 0.4.
- By end user, veterinary clinics is the largest segment anticipated to reach US$ 438.3 Mn by 2025 and register a CAGR of 7.8% during the forecast period. Veterinary clinics dominated the global animal wound care market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. The segment is projected to be the most attractive market with attractiveness index of 1.2 during the forecast period. Home care has relative stagnant growth and has an attractiveness index of 0.7. Veterinary hospitals segment is expected to record an attractiveness index of 1.0.
Global Animal Wound Care Market: Regional Forecast
Persistence Market Research tracks the performance of the global animal wound care market across the key geographies of North America, Latin America, Europe, Asia Pacific and MEA. North America is the largest region in the global animal wound care market, which is estimated to represent US$ 158.7 Mn, or 26.9% share of the total market in 2017 and is projected to reach US$ 269.3 Mn by 2025 end, registering a CAGR of 6.8% over the forecast period 2017–2025. Europe is anticipated to reach a market value of US$ 207.6 Mn by 2025 end, exhibiting a CAGR of 6.6% during the forecast period.
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Global Animal Wound Care Market: Vendor Insights
The report profiles some of the leading players operating in the global animal wound care market such as B. Braun Melsungen AG, Medtronic Plc, 3M, Ethicon US, LLC, Smith & Nephew, Bayer, Virbac, Ceva Sant` Animale, de Biogénesis Bagó, Acelity L.P. Inc., Neogen Corporation, Huvepharma, Dechra Pharmaceuticals, Advancis Veterinary Ltd, Jorgensen Labs, SilverGlide, Innovacyn, Inc. (Vetericyn), Robinson Healthcare, SentrX Animal Care, Inc. and McCord Research (Pinnaclife Inc). The animal wound care market industry players are using strategies such as establishing new manufacturing plants in developing countries to garner increased profits. Moreover, companies are now targeting online retail pharmacies wherein they can target more consumers apart from veterinary doctors.