R&M: Animal wound care to pass $1.5B
by Katie Pfaff
The global market for animal wound care was forecast to reach a value of $1.57 billion by 2027, according to a report by analysts, ResearchAndMarkets.com. The prediction comes after the market was valued at $1.06 billion in 2021. The market was expected to grow at a CAGR of 6.77% between 2021 and 2027.
Animal wound care is defined in the report as treatment to a wound area to stop bleeding, remove foreign objects, clean, disinfect, and cover the wound. Supplies include antibacterial applications, cleansing agents, sterile bandages, and tools such as scissors and tweezers.
Growth across the market was expected as the number of adopted pets has increased globally. As a result, injuries and surgeries for pets have also increased. Pets have also received more comprehensive care in recent years, adding to the number of veterinary appointments and growth across several sectors.
Across the globe, increased care of animals have been subsidized by government entities, leading to increased utilization of veterinary care including wound care. As an offshoot of greater investment in animal welfare, the amount of growth in innovation and research and development of products have increased.
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