The animal wound care market is expected to witness significant growth in the coming years. The global market is projected to reach USD 1.1 Billion by 2021 from USD 818.8 Million in 2016, at a CAGR of 6.7% from 2016 to 2021.
Factors such as growing population of companion as well as livestock animals; rising demand for pet insurance along with increasing animal healthcare expenditure; and increasing number of veterinary practitioners and their income levels in developed regions are the major drivers for the growth of the market. However, increasing pet care costs are expected to restrain the growth of this market. Emerging markets such as China, India, and Brazil offer significant growth opportunities for the growth of market. Low adoption of advanced wound care products and shortage of vet practitioners in emerging markets are the major market challenges for this industry.
The report analyzes the animal wound care market by product, animal type, end user, and region. On the basis of products, the global market is further segmented into surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. On the basis of animal type, the global market is segmented into companion animals and livestock animals. Based on the type of end-users, this market is further segmented into hospitals & clinics, and home care.
In 2015, North America dominated the market followed by Europe, Asia-pacific, and Rest of the World. Increasing adoption of pet animals, growing pet insurance industry, and rising veterinary healthcare expenditure are factors driving the growth of this market. On the other hand, the Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period. This can be mainly attributed to the presence of huge number of domesticated animals, increasing pet adoption due to progressive urbanization, increasing awareness about animal health, and growing per capita animal health expenditure in this region.