Global Animal Wound Care Market to Value USD 1.1 Bn by 2021, Predicts M&M in Its New Report Available at MarketPublishers.com
23 Nov 2016 • by Natalie Aster
LONDON – As of 2016, a value of the global market for animal wound care is estimated to be approximately USD 819 million. This marketplace is expected to showcase a one-digit growth of no more than 7% over the period 2016-2021. Increasing animal health expenditure, the growing demand for pet insurance and a rise n the companion animal population are some of factors that will encourage this growth. The marketplace is forecast to value over USD 1.1 billion by 2021.
Yet the growth could be a little bit higher, but the market has to face some restraints like a rise in pet care costs.
In the meantime, emerging markets stay untapped, thus offering new opportunities to companies active in this marketplace.
Players, however, will have to deal with certain challenges while deepening their footprint in emerging markets. A lack of vet practitioners and low adoption of advanced animal wound care products are some of these challenges.
Surgical wound care products make up the largest segment of the worldwide marketplace on the basis of products. This is a result of the rising number of veterinary conditions that require surgeries, surgical products’ adoption, increasing pet adoption, etc.
Advanced wound care products are set to become the swiftest growing segment in the offing due to their rising adoption.
Companion animals formed the largest segment as of 2015 on the basis of an animal type. When it comes to end-users, hospitals and clinics hold the largest share of the world’s wound care marketplace.
North America is the number one player globally. It may be dethroned by AAC in future give rapid growth of the local market.
There are quite many companies in the word’s market, and 3M Company, Ethicon and Neogen Corporation are some of the leaders.
New research report “Animal Wound Care Market - Global Forecast to 2021” worked out by M&M offers an in-depth analysis of the global animal wound care marketplace. The study provides and all-round overview of this space. It explores dynamics of this marketplace and insightfully discusses performance of each its segments.
The report concentrates on the worldwide competitive environment. Top companies’ profiles are on hand in the research study. Future projections up to 2021 are available in the report, too.
More new research studies by M&M can be found at its page.