The competitive landscape includes the analysis of key growth strategies adopted by the major players between January 2019 and July 2022. The global animal wound care market is projected to reach USD 1.7 billion by 2027 from USD 1.2 billion in 2022, at a CAGR of 7.3% during the forecast period. Players in the global animal wound care market have employed various strategies to expand their global footprint and increase their market shares. The key strategies adopted by the top players in this market include product launches, expansions, acquisitions, agreements, partnerships, joint ventures, and collaborations.
The prominent players in the global animal wound care market are Elanco Animal Health (US), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Virbac (France), Jorgen Kruuse A/S (Denmark), Dechra Pharmaceuticals (UK), Neogen Corporation (US), Ethicon, Inc. (US), Sonoma Pharmaceuticals Inc. (US), Jazz Medical, LLC (Ireland), Prima-Vet Inc. (US), Smith & Nephew PLC (UK), Kericure Inc. (US), Advancis Veterinary (UK), Care-Tech Laboratories, Inc. (US), Robinson Healthcare (UK), Mila International, Inc (US), Sentrx Animal Care (US), and McCord Research, Inc (US).
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Elanco Animal Health (US)
Elanco Animal Health is one of the largest players in the animal wound care market. To remain competitive and grow, the company focuses on expanding and deepening its partnerships with its existing customers, which in turn helps in enhancing operational excellence, the quality of products, capabilities, and expertise, as well as developing innovative products. The company pursues growth through several organic and inorganic strategies, such as product launches, expansions, acquisitions, agreements, partnerships, collaboration, and divestitures, to broaden its product portfolio and scale its existing business segments.
The company is investing significantly in bringing innovative products to the market. It is also investing in strategies such as acquisitions to levitate its global position by enhancing its global presence and broadening its portfolio of animal health research consumables. For instance, in August 2019, Elanco announced that it would acquire Bayer’s Animal Health Business. This acquisition doubled Elanco’s companion animal business and advanced the company’s portfolio mix by creating a balance between its food animal and companion animal segments.
Ethicon, Inc. (US)
Ethicon is a global player in the animal wound care market, with wide geographic coverage. To strengthen its market position, the company focuses on enhancing and upgrading its product portfolio in the rapidly evolving veterinary markets. The company invests a significant amount of its revenue in R&D. High investments in R&D enable the company to develop new and advanced products for various medical markets, including wound care. The company has a strong sales and distribution network in North America, Europe, the Asia Pacific, and Africa, which helps it to cater to product demands and provide efficient services. The company focuses on strategic expansions in emerging economies such as China and India to capture growth opportunities in the high-growth markets.
Animal Wound Care Market by Product (Surgical (Sutures & Staplers, Glues), Advanced (Hydrocolloid, Hydrogel Dressings), Traditional (Tape, Dressings, Bandages), Animal Type (Cats, Dogs, Horse, Pigs), End User (Hospital, Clinics) - Global Forecast to 2027
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