Veterinary orthopedics market reached a size of US$ 357.8 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2029, reaching a projected size of US$ 511.1 million by 2029.
The increasing pet ownership, rising awareness of pet health, and advancements in minimally invasive surgical techniques are key drivers of this growth.
To Know more about this report (Description, TOC and List of Tables and Figures) — Veterinary Orthopedics Market
Key Players:
· B.Braun Vet care GmbH
· Veterinary Orthopedic Implants
· KYON pharma Inc.
· GerMed USA
· EVEROST, INC.
· Integra LifeSciences
· Ortho Max Manufacturing Company Pvt. Ltd.
· BioMedtrix, LLC
· Surgical Holdings
Market Drivers:
· Rising pet ownership: The growing popularity of companion animals, particularly dogs and cats, is driving the demand for veterinary orthopedic treatments.
· Increasing awareness of pet health: Pet owners are becoming more aware of the importance of preventive healthcare and are willing to invest in treatments for their pets’ musculoskeletal issues.
· Advancements in veterinary orthopedic technology: Innovations in minimally invasive surgical techniques, biomaterials, and prosthetics are improving the outcomes of orthopedic procedures for animals.
· Rising disposable income: In developed economies, increasing disposable income allows pet owners to spend more on pet healthcare, including orthopedic treatments.
Market Opportunities:
· Development of personalized medicine: Advancements in genetics and other diagnostic technologies are paving the way for personalized treatment plans for animal orthopedic conditions.
· Expansion in emerging markets: The veterinary orthopedics market is expected to see significant growth in developing regions like Asia Pacific and Latin America, driven by rising pet ownership and increasing veterinary infrastructure.
· Focus on preventative care: Growing awareness of the benefits of preventative care can lead to earlier diagnosis and treatment of orthopedic conditions, further boosting the market.
Segmentation by Type:
· Instruments: Surgical instruments used for orthopedic procedures.
· Implants: Plates, pins, screws, and other devices used to repair or replace damaged bones and joints.
· Screws: Various types of screws used for bone fixation in different orthopedic procedures.
· Others: This segment includes bone substitutes, joint replacements, and other orthopedic products.
Segmentation by Application:
· Total Knee Replacement: Surgical procedure to replace a damaged knee joint with a prosthetic implant.
· Total Hip Replacement: Surgical procedure to replace a damaged hip joint with a prosthetic implant.
· Total Elbow Replacement: Less common procedure compared to knee and hip replacements, used to treat severe elbow joint damage.
· Trauma Fixation: Treatment of bone fractures and dislocations using various techniques like casts, splints, and implants.
· Others: This segment includes treatments for other orthopedic conditions like ligament tears, joint pain, and spinal disorders.
Segmented by Region:
· North America: Largest market share due to high pet ownership and advanced veterinary infrastructure.
· Europe: Significant market with potential for further growth in some Eastern European countries.
· Asia Pacific: Fastest-growing market driven by rising pet ownership and disposable income in countries like China and India.
· South America: Emerging market with significant growth potential, but currently limited by veterinary infrastructure in some regions.
· Middle East and Africa: Smallest market with limited growth prospects due to various economic and infrastructure challenges.
The veterinary orthopedics market is expected to see continued growth in the coming years driven by several factors.
Rising pet ownership, increasing awareness of pet health, and advancements in veterinary technology are key drivers of this market. With the development of personalized medicine, expansion in emerging markets, and focus on preventative care, the veterinary orthopedics market holds significant potential for future growth.
