The global Compression Veterinary Bandages Market is anticipated to be worth US$ 113.8 million by the end of 2022. The market is estimated to grow at a 3.2% CAGR from 2022 to 2032, with a closing value of US$ 160.5 million. The industry increased at a 3.6% CAGR between 2016 and 2021.
“The rise in the number of companies producing animal care products is also expected to boost the growth of the compression veterinary bandages market.” The increased popularity of horse racing is also expected to drive demand for compression veterinary bandages.”
The global compression veterinary bandages market is expected to be driven by the increasing focus of people on taming their farm animals and pets. With the advancement in the technology, companies have developed compression veterinary bandages and products that stick to itself and does not require any extra substance. Development of advanced compression veterinary bandages and better care products is also expected to fuel the growth of the market.
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Rise in the number of companies that are manufacturing the products for animals 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.
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
- EquiCrown
- Merck Sharp & Dohme Corp.
- Millpledge Pharmaceuticals
- Andover Healthcare, Inc.
- America’s Acres Health & Safety Products.
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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Key Segments Covered in the Compression veterinary bandages Industry Survey
By Product Type:
- Long Stretch or Elastic compression veterinary bandages
- Short Stretch or Low Elasticity compression veterinary bandages
- Multicomponent Multilayer compression veterinary bandages
By Animal Type:
- Companion Animals or Pets compression veterinary bandages
- Farm Animals compression veterinary bandages
By Distribution Channel:
- Compression veterinary bandages for Retail Pharmacy
- Compression veterinary bandages for Online Pharmacy
- Compression veterinary bandages for Veterinary Clinics
- Compression veterinary bandages for Veterinary Hospitals
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