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U.S. Surgical Pet Collar Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The U.S. surgical pet collar products market was valued at USD 1.2 billion in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2030. The market is mainly driven by the rising demand for pet veterinary care and the growing trend of pet humanization. Pet owners are increasingly making investments in pet healthcare, as they are increasingly viewing their pets as family members, similar to their own children.
The increasing number of pet owners is another major factor driving the growth of the market. According to the American Pet Products Association, in 2020, around 68% of households in the U.S. owned at least one pet. Furthermore, the rising awareness about animal health care, particularly among the millennials, is further propelling the demand for pet healthcare products.
The growing number of pet insurance policies is also a major factor driving the market. The pet insurance sector is growing rapidly, with a focus on coverage of surgical procedures. According to the North American Pet Health Insurance Association, in 2020, the number of pet insurance policies in the U.S. increased by 9.3%. As pet owners are looking for financial security for their pets, pet insurance is becoming more popular. This will further drive the demand for surgical pet collars over the forecast period.
Additionally, the increasing investment in pet healthcare is also contributing to the market growth. Pet owners are spending more on pet healthcare services, such as vaccinations and surgeries, which is driving the demand for surgical pet collars. Furthermore, the growing demand for pet comfort products, such as pet beds and cages, is further contributing to the growth of the market.
Furthermore, the rising demand for pet grooming products is also supporting the market growth. Pet owners are increasingly opting for pet grooming services to keep their pet’s fur clean and healthy. This is driving the demand for pet grooming products, such as pet shampoo, pet collar, and pet conditioner. The growing demand for pet grooming products is expected to further drive the demand for surgical pet collar products in the coming years.
Product Insights
The E-collar segment accounted for a share of over 58.6% in 2022. Growing animal health expenditure and the increasing adoption of pets in the U.S. are expected to drive the market growth. According to a survey by the American Pet Products Association, pet ownership in the U.S. is increasing, and the number of pet owners is expected to reach around 125 million by 2023. Furthermore, increasing online sales of veterinary products and rising awareness of pet health is driving the market growth.
The cone segment is anticipated to expand at a CAGR of over 6.1% during the forecast period. The increasing focus of pet owners on the health of their pets is driving the segment growth. According to an article published by PetMD, in June 2020, pet owners are now more conscious about pet health, and the number of pet owners that are consulting a veterinarian for routine health care is increasing. Furthermore, rising demand for comfortable and adjustable pet cones is further driving the segment growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 37.0% in 2022. Supermarkets and hypermarkets provide an extensive range of products and therefore, they are preferred by pet owners to purchase pet collars. Additionally, the presence of supermarkets and hypermarkets in most of the urban and suburban areas has enabled pet owners to purchase different types of pet collars conveniently. Moreover, these stores also offer several promotional offers and discounts, which further attract pet owners to purchase pet collars from these stores.
The veterinary clinics segment is anticipated to witness the highest CAGR of 10.1% over the forecast period. The segment is expected to experience rapid growth owing to the increasing number of veterinary clinics across the country. Veterinary clinics have become an important distribution channel for pet collars due to their large customer base. Furthermore, the availability of prescription-based pet collars at veterinary clinics is expected to further drive the growth of the segment.
Type Insights
The plastic segment is expected to dominate the U.S. surgical pet collar products market in terms of revenue share. This can be attributed to the increasing demand for lightweight and durable plastic collars among pet owners. The plastic segment is estimated to expand at a CAGR of 6.1% over the forecast period.
The fabric segment is anticipated to register the highest CAGR of 8.3% over the forecast period. Fabric collars are popular among pet owners due to their soft texture and comfort for the pet. Furthermore, fabric surgical pet collars come in a variety of patterns and colors, which is likely to attract pet owners.
Regional Insights
The U.S. dominated the market in 2022 and accounted for the highest revenue share of over 28.4%. Pet owners in the U.S. are increasingly seeking innovative and technologically advanced products to keep their pets safe and healthy. Moreover, increasing awareness regarding pet health and safety is another major factor driving the growth of the market in the U.S. For instance, in March 2021, the American Veterinary Medical Association (AVMA) launched a campaign to raise awareness about pet safety and provide easy access to pet safety products.
Europe is expected to witness the second-fastest growth in the coming years. The growth of the market in Europe can be attributed to the rising demand for pet health products. Moreover, increasing awareness and rising disposable incomes in the region are providing a further boost to the market. For instance, in May 2021, the European Federation of Animal Health (EAHP) launched an awareness campaign to promote pet health and safety products.
Financial Projections
In this part of the U.S. Surgical Pet Collar Products business plan we will provide a detailed breakdown of the income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your pet collar product business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a U.S. Surgical Pet Collar Products business comes from direct sales, wholesale orders, and retail stores. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, crowdfunding, and advertising services.
Projecting Expenses
In this section, all the regular expenses related to keeping the U.S. Surgical Pet Collar Products business running will be described. The list of operating expenses includes manufacturing costs, shipping and handling costs, marketing expenses, payroll costs, inventory costs, and other related expenses.
Key companies & market share insights
Some of the key companies operating in the U.S. surgical pet collar market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Petco launched the ‘Collar Care’ line of pet collars designed for post-operative care.
– In August 2022, PetSmart launched the ‘PetSafe’ line of pet collars designed for post-operative care.
– In October 2022, Pet Supplies Plus launched the ‘Care4Pets’ line of pet collars designed for post-operative care.
Some of the prominent players in the U.S. surgical pet collar market include:
– Petco
– PetSmart
– Pet Supplies Plus
– Amazon.com
– Wal-Mart Stores Inc.
– Tractor Supply Company
– PetValu
– Petland
– Chewy Inc.
– Petco Animal Supplies, Inc.
Global U.S. Surgical Pet Collar Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global men’s surgical pet collar products market based on type, application, end user, and region:
1. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Soft Collars
– Hard Collars
– Specialized Collars
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Post Surgery
– Injury Prevention
– Other Applications
3. End User Outlook (Revenue, USD Million, 2017 – 2030)
– Veterinary Hospitals
– Veterinary Clinics
– Retail Stores
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Current Market Size of the U.S. Surgical Pet Collar Products Market?
[A]: The current market size of U.S. surgical pet collar products is estimated to be USD 1.8 billion in 2020 and is expected to grow at a CAGR of 10.8% during the forecast period (2020-2025).
[Q]: What are the Drivers of the U.S. Surgical Pet Collar Products Market?
[A]: The market is driven by increasing pet ownership, rising number of pet surgeries, and growing awareness about pet healthcare. Moreover, the growing number of veterinary clinics, increasing disposable incomes, and growing demand for pet insurance are some of the other factors boosting the growth of the market.
[Q]: What are the Key Players in the U.S. Surgical Pet Collar Products Market?
[A]: Key players in the U.S. surgical pet collar products market include 3M, B. Braun Melsungen AG, Ethicon US, LLC, MEDTRONIC, Inc., Smiths Group plc, and Zimmer Biomet.
[Q]: What are the Challenges Faced by the U.S. Surgical Pet Collar Products Market?
[A]: One of the major challenges faced by the market is the limited availability of skilled professionals for pet healthcare. Other factors such as high costs associated with pet healthcare and pet surgeries and animal rights issues are also expected to hamper the growth of the market.
[Q]: What are the Opportunities for the U.S. Surgical Pet Collar Products Market?
[A]: The increasing demand for pet veterinary services and increasing awareness about pet healthcare are expected to provide numerous opportunities for the market in the coming years. Additionally, technological advancements in pet healthcare products and services are expected to further drive the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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