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Increase in adoption of pets is a key factor driving the market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, January 17, 2023 /EINPresswire.com/ -- The global Animal wound care market size reached USD 992.2 Million in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period, according to the latest analysis by Emergen Research. The American Society for the Prevention of Cruelty to Animals (ASPCA) estimates that 6.5 million dogs, cats, and other former pets are abandoned or misplaced and end up in shelters. However, only 3.2 million of these animals get adopted, and many returns to shelters after less than a year. Many shelters want volunteers to temporarily house dogs to free up room in the facility and allow the dogs to demonstrate how they would behave in a home environment. The majority of pets in shelters were brought there due to a significant lack of cheap, pet-friendly housing and access to medical care, both of which will necessitate long-term and systemic reform. Caring for a pet may provide you with a sense of purpose and fulfillment while also alleviating emotions of loneliness. Rising demand for pet insurance is another key factor contributing to the market revenue growth. the pet insurance policy is one of the newest insurance plans for the care of pets.
This programme pays for the veterinarian costs associated with treating an ill or injured pet. Some pet insurance policies also cover the loss or death of the covered animal. This aids pet owners in reducing the likelihood that their animals will require expensive medical care and in ensuring that they receive the finest care possible. The costs of both serious and small diseases, such as cancer, arthritis, hypothyroidism, ear infections, digestive issues, and Urinary Tract Infections (UTIs), can be covered under illness coverage. It can pay for anything from the cost of diagnosing the illness to the therapies required to get the pet well. Rising pet care costs is acting as a restraint for the growth of the animal wound care market. According to the American Society for the Prevention of Cruelty to Animals (ASPCA) the total annual costs of pet care are around USD 1391.
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Some Key Highlights From the Report
The surgical wound care segment accounted for a significant revenue share in 2021. It is customary to utilize a subcutaneous closure (if necessary) + skin closure since large animal species are less prone than small animal patients to gnaw out their sutures. Skin closure can be done in either an interrupted or continuous pattern. Cruciate closure patterns are more efficient than simple interrupted closure patterns and both patterns are more effective than a subcuticular pattern. A material called surgical glue has been created to quickly and painlessly close wounds without putting the animal through any discomfort or agony. The veterinarian will need to clean the incision before using surgical adhesive, and they must do this in that sequence.
The companion segment accounted for a significant revenue share in 2021. Rising pet healthcare expenditures, particularly in developed areas, are driving the expansion of this market. According to the American Pet Products Association (APPA), pet owners in the United States would spend around USD 34.3 billion on veterinarian care in 2021. Another important aspect driving segment expansion is the increasing desire for less invasive operations. Modern methods provide several advantages, such as smaller incisions and fewer stitches, encouraging pet owners to adopt cutting-edge, minimally invasive technology.
Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth. In addition, the presence of key players is also driving revenue growth of the market. For instance, on April 2022, NEOGEN Corporation announced the addition of a new product to its well-known Prozap insect control portfolio. Prozap Protectus Pour-On Insecticide - IGR is a ready-to-use triple-active mixture that kills chewing and sucking lice, horn flies, stable flies, horse and deer flies, and other insects on beef cattle and calves.
Key Parameters Analyzed in This Section:

Medtronic plc, 3M Company, B. Braun SE, Virbac, Johnson and Johnson Services, Inc., Advancis Veterinary Ltd, Neogen Corporation, PrimaVet Inc., KeriCure Inc., and Innovacyn, Inc.
Regional Segmentation:

North America
Latin America
Europe
Middle East & Africa
Asia Pacific

Emergen Research has segmented the global ceramic fiber on the basis of product form, type, end-use, and region:
Product Outlook (Revenue, USD Million; 2019-2030)
Surgical Wound Care
Advanced Wound Care
Traditional Wound Care
Animal Type Outlook (Revenue, USD Million; 2019-2030)
Companion
Livestock
End-Use Outlook (Revenue, USD Million; 2019-2030)
Veterinary Hospitals and Clinics
Homecare
Academic Research Institutes
Report Highlights:
Besides offering a vivid depiction of the global Ceramic Fiber business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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