Veterinary Orthopedics Market is Estimated to Witness High Growth Owing to Advancements in Implant Technologies

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The Global veterinary orthopedics market is estimated to be valued at US$ 625.1 Mn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

The veterinary orthopedics market comprises veterinary orthopedic implants and instrumentation products used widely to treat various orthopedic ailments in animals. Veterinary orthopedic implants include bone graft substitutes, lameness protection plates, hip transfixation pins, screws, wires and external fixators that provide structural support. Key advantages of these implants include restoring normal movement to bones by fixing damaged bones and joints. Veterinary Orthopedics Market Demand is conditions such as hip dysplasia, elbow dysplasia, vertebral intervertebral disc disease, and cranial cruciate ligament disease are common in pets. As pets become an integral part of families, the demand for advanced medical treatments for better pet healthcare is rising.

The Global veterinary orthopedics market is estimated to be valued at US$ 625.1 Mn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Key Takeaways


Key players operating in the veterinary orthopedics are DePuy Synthes (Johnson & Johnson), IMEX Veterinary, Inc., BioMedtrix, Vetbone, Braun Holding GmbH & Co. KG, Veterinary Orthopedic Implants, Inc., Kyon Pharma, ORTHOpets, Stryker Corporation, B.Braun Melsungen AG, VET-IMPLANTS, Vet-Tech, Inc., Arthrex, Inc., JORVET, and Medtronic. Major opportunities in the market include rising number of veterinary practitioners, growing pet insurance adoption and advancements in plate and screw designs. Technological advancements in implants like 3D printed implants provide customized fit and reduce surgery risks.

Market Drivers


Veterinary Orthopedics Market Size and Trends is increasing pet healthcare expenditure and rising incidence of orthopedic conditions in companion animals are significant drivers for the market. Advancements in animal welfare standards and premiumization of pet care have boosted demand for innovative medical treatments. Growing awareness about early diagnosis and surgical treatment of orthopedic disorders is another key factor fueling market growth. Government funding for veterinary research to develop improved biomaterials and implant designs also supports market expansion.


Challenges in Veterinary Orthopedics Market

The global veterinary orthopedics market is facing various challenges such as lack of pet insurance coverage, high cost of veterinary orthopedic surgeries, and limited availability of veterinary orthopedists. Pet insurance in many countries does not cover orthopedic surgeries adding to the financial burden on pet owners. Veterinary orthopedic surgeries involve the use of sophisticated implants and instrumentation making the treatment costs very high. There is a severe shortage of veterinary orthopedists globally to cater to the growing patient base. Most vets require additional training to perform orthopedic surgeries competently. Lack of specialized infrastructure and skills poses challenges for market growth.

SWOT Analysis

Strength:
Advanced veterinary orthopedic implants and instruments offer precise surgical solutions.


Weakness: High costs of surgical procedures limit market access.


Opportunity: Rising pet adoption and pet health expenditure will drive future demand.
Threats: Shortage of skilled veterinary orthopedists can hamper market development.

Geographically, North America accounts for the largest share of the global veterinary orthopedics market value-wise due to high pet care spending and availability ofadvanced veterinary care in countries like the US and Canada. Asia Pacific is expected to be the fastest growing regional market between 2024-2031 driven by increasing pet ownership, rising per capita incomes, and establishment of specialized veterinary healthcare facilities in India and China. Factors such as growing awareness about pet wellness will support continued market expansion in the Asia Pacific region.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

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