By the end of 2022, the global compression veterinary bandages market is expected to be worth US$ 113.8 million. During the forecast period of 2022 to 2032, the market is expected to grow at a CAGR of 3.2%, with a closing value of US$ 160.5 million. During the 2016 to 2021-time period, the industry grew at a CAGR of 3.6%.
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Rise in the number of companies that are manufacturing the products for animal’s care is also expected to drive the growth of compression veterinary bandages market. Rising trend of horse racing is also expected to drive the market of compression veterinary bandages as this helps to remove toxins and lymph fluid along with managing swelling as horse legs can swell after a long day of standing and racing.
Veterinary bandages are necessary medical supply for pet owners and veterinary clinics or hospitals. These bandages are used to care from major and minor injuries to the animals. Compression veterinary bandage are used for the animals to prevent the bandage from falling out.
These compression veterinary bandages provide effective level of compression and sustained result. The purpose of pressure or compression veterinary bandage is to control bleeding, provide support to an injured limb, minimize the swelling, protect a wound from getting contaminated and absorb fluids from a wound. Compression veterinary bandages comes in a broad range of packs and colours.
Compression Veterinary Bandages Market: Overview
The global compression veterinary bandages market is expected to show a significant growth over the forecast period. Rising horse racing craze among people is one the reason for the growth in compression veterinary bandages market. As after long day of standing and racing horse get tired, so compression veterinary bandages are used to reduce the swelling in the legs of horse by removing lymph fluid. Horses have about 8,000 lymph nodes making them more prone to the development of swelling.
Increasing focus of owner on providing better care to their animals and commercialization of animal trading is also expected to drive the growth of compression veterinary bandages market as, owners want their animals to keep healthy. Companion animals segment is expected to show a better growth as people are emotionally attached to their pets leading to the higher growth in compression veterinary bandages market.
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Compression Veterinary Bandages Market: Region Wise Outlook
The global compression veterinary bandages market can be segmented into regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. Asia Pacific compression veterinary bandages market is dominating the global market as, this region has highest number of animals and animals trading is more common in the region. Asia Pacific excluding Japan is expected to continue to dominate the market of compression veterinary bandages market. Middle East and Africa region is also expected to show significant growth in compression veterinary bandages market as this region has trend of horse racing.
Compression Veterinary Bandages Market: Key Players
Some of the market participants in the global compression veterinary bandages market are, EquiCrown, Merck Sharp & Dohme Corp., Millpledge Pharmaceuticals, Andover Healthcare, Inc., and America’s Acres Health & Safety Products. These companies are focusing on development of compression veterinary bandages specific for the animals such as, specialized bandages for horses.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Compression Veterinary Bandages Market: Segmentation
The global compression veterinary bandages market is segmented on the basis of product type, animal type, distribution channel and region.
On the basis of product type the global compression veterinary bandages market can be segmented into:
Long Stretch or Elastic Bandages
Short Stretch or Low Elasticity Bandages
Multicomponent Multilayer Bandages
On the basis of animal type the global compression veterinary bandages market can be segmented into:
Companion Animals or Pets
Farm Animals
On the basis of distribution channel the global compression veterinary bandages market can be segmented into:
Retail Pharmacy
Online Pharmacy
Veterinary Clinics
Veterinary Hospitals
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