The veterinary orthopedic implants market involves implants that are used to restore the function of bones and joints in companion animals such as dogs and cats that are affected by orthopedic diseases and injuries. Conditions like hip dysplasia, elbow dysplasia, and osteoarthritis are common in large and giant breed dogs. Implants such as plates, screws, pins/wires, rods/pins, and others are placed inside or attached to bones to facilitate healing or replace a damaged joint. They are made from metals like stainless steel and titanium as well as newer materials like PEEK. Implantation requires minimally invasive or open surgeries and helps restore mobility in animals.

The Global veterinary orthopedic implants market is estimated to be valued at US$ 341.57 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

Key players operating in The Veterinary Orthopedic Implants are IBM Corporation, Hewlett Packard Enterprise, Infosys Limited, Wipro Limited, Capgemini SE, Cognizant Technology Solutions Corporation, TATA Consultancy Services Limited, Deloitte Touche Tohmatsu Limited, Accenture plc, PAREXEL International Corporation, PwC International Limited, IQVIA Holdings Inc., Tata Technologies Limited, Computer Sciences Corporation (CSC), Eurofins Scientific SE. Key players are focusing on developing novel implants by using advanced materials to offer implants that have better longevity and biocompatibility. For instance, several players are developing 3D printed implants customized for individual animals.

The growing demand for veterinary orthopedic implants can be attributed to the rising pet adoption worldwide along with growing expenditure on animal health. According to the American Pet Products Association, total U.S. pet industry expenditures were estimated at $103.6 billion in 2021 of which $29.3 billion was spent on veterinary care. As pet owners are increasingly getting health insurance for pets, the demand for improved veterinary care including orthopedic surgeries is growing.

Globally, veterinary implant companies are expanding their presence by establishing manufacturing and distribution networks across major markets. For example, in January 2021, DePuy Synthes Vet expanded its facilities and veterinary training center in Raynham, Massachusetts to strengthen its position in the orthopedics market for dogs and cats. In addition, companies are also carrying out collaborations and acquisitions for developing and commercializing novel veterinary orthopedic implants. For instance, in September 2020, KYON completed the acquisition of Veterinary Orthopedic Implants to expand its portfolio of trauma and osteoarthritis implants.

The rising prevalence of orthopedic diseases in pet dogs and cats is a major driver of the veterinary orthopedic implants market. According to the data by Veterinary Pet Insurance, incidences of canine hip dysplasia increased by 5.4% from 2019 to 2020 in the U.S. Longer life expectancy of pets due to increasing pet care spending has also contributed to the risk of developing orthopedic conditions. Growing ownership of large and giant breed dogs that are predisposed to conditions like hip dysplasia is also fueling the demand for veterinary implants.

The current geopolitical situation is impacting the growth of the veterinary orthopedic implants market. Conflicts and economic uncertainties in different parts of the world are disrupting supply chains and affecting the availability as well as pricing of raw materials used for manufacturing orthopedic implants. This is hampering the production output of implant manufacturers and limiting the supply of implants to veterinary healthcare facilities globally. The inflationary pressures induced by these geopolitical issues are also decreasing the purchasing power of pet owners in many countries, thereby reducing the demand for surgical procedures that utilize orthopedic implants.

To sustain growth amid geopolitical challenges, manufacturers in the veterinary orthopedic implants market need to focus on diversifying their sourcing networks and establishing alternative supply routes. They must scout for new suppliers in politically stable regions and enter into long-term agreements to ensure raw material security. Implant producers also need to optimize manufacturing operations and improve productivity to absorb rising input costs without significantly raising implant prices. Furthermore, market players can promote affordable financing/insurance options for veterinary care to bolster the affordability of implant surgeries among pet owners from low to middle-income demographic segments.

In terms of value, North America is currently the most concentrated region for the veterinary orthopedic implants market as it accounts for over 40% of the global market revenue. This is attributed to factors like higher pet ownership rates, strong demand for advanced veterinary care, and growing companion animal healthcare expenditure per capita in countries such as the US and Canada. The Asia Pacific region is projected to emerge as the fastest growing market during the forecast period, propelled by rising pet adoption, improving access to veterinary services, and increasing focus of international implant brands on expanding presence in emerging Asia Pacific nations.

India possesses vast growth potential for the veterinary orthopedic implants market. With its large livestock population and growing organized sector for animal healthcare, the Indian veterinary implants industry is witnessing steady transformation. Domestic manufacturers are ramping up production to capitalize on the country's price-sensitive yet sizeable demand base. Furthermore, India's strategic geographical positioning enables it to serve as an alternative manufacturing hub and cost-competitive supplier for global veterinary implant companies seeking to diversify operations away from politically volatile regions.

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