Animal Wound Care Market| Rise in the Number of Pet Ownership to Boost the Market Growth | Technavio

Technavio has announced its latest market research report titled Global Animal Wound Care Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The global animal wound care market size is poised to grow by USD 661.63 million during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The rise in the number of pet ownership is one of the key factors driving the market growth. The increase in pet ownership has resulted in the growing awareness about pet health care, leading to a subsequent demand for animal wound care management. Medical solutions improve the quality of the life of animals, and this increases the focus of pet owners toward better health services for these animals. Furthermore, the advancements in veterinary therapeutics and preventive medicines supplemented by a rise in disposable income also fuel the demand for better care of pets and livestock. This will consequently drive the growth of the animal wound care market.

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Report Highlights:

  • The major animal wound care market growth came from the surgical wound care segment. Factors such as the high adoption of products in hospitals and clinics for wound healing and the rising adoption of pets around the globe will contribute to the growth of the surgical wound care industry segment. Moreover, the rise in new technologies and the increased spending for pet surgical treatments will also drive the growth of this market segment.
  • North America had the largest animal wound care market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing demand for pet insurance because of the increasing adoption of animals will significantly influence animal wound care market growth in this region.
  • The global animal wound care market is fragmented. 3M Co., B. Braun Melsungen AG, Biogenesis Bago SA, Ceva Sante Animale, Indian Immunologicals Ltd., Johnson & Johnson, Medtronic Plc, Phibro Animal Health Corp., Vetoquinol SA, and Virbac Group. are some of the major market participants. To help clients improve their market position, this animal wound care market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global animal wound care market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Growing Investments in Animal Care will be a Key Market Trend

Growing investments in animal care, one of the major animal wound care market trends, will also contribute to the growth of the market. Governments and several NGOs, such as animal welfare associations, are making huge investments towards the improvement of animal care services. The rise in investments, particularly in the developing markets of Asia and Africa, will double the growth rate of the market in these regions. The key players are increasing their focus on emerging markets to generate revenue from these untapped markets and are also focusing on setting up manufacturing plants in these areas to increase their presence in these markets. Such factors will drive market growth during the forecast period.

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Animal Wound Care Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist animal wound care market growth during the next five years
  • Estimation of the animal wound care market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the animal wound care market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of animal wound care market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Surgical wound care - Market size and forecast 2019-2024
  • Traditional wound care - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 3M Co.
  • B. Braun Melsungen AG
  • Biogenesis Bago SA
  • Ceva Sante Animale
  • Indian Immunologicals Ltd.
  • Johnson & Johnson
  • Medtronic Plc
  • Phibro Animal Health Corp.
  • Vetoquinol SA
  • Virbac Group

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Animal Wound Care Market will grow by USD 661.63 mn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/