The ‘Global Veterinary Orthopaedic Implants Market Share, Size, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global veterinary orthopaedic implants market, assessing the market on the basis of its segments like product types, applications, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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Veterinary Orthopaedic Implants Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7%
The increasing adoption of cats and dogs in modern household is escalating the clinical needs of pets. The rising disposable income is further leading to increased spending on animal health. Additionally, the rapid development of veterinary clinics and hospitals across the emerging economies is leading to an increase in routine check-ups, thereby, bolstering the veterinary orthopaedic implants market growth.
Dogs are the most common type of pets which have been witnessing an increased adoption among the middle-class households. Also, dogs are one of the most overactive creatures which are known to be a victim of injuries such as being hit by a car or swallowing foreign objects. Increasing traffic congestions on roads have made pets more susceptible to accidents leading to a dramatic rise in need for surgeries.
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Over the forecast period, the anticipated increase in adoption of canines by security agencies and commando forces to bolster security is likely to propel the maintenance expenditure, which will eventually provide impetus to the veterinary orthopaedic implants market.
In terms of regions, the Asia Pacific is expected to witness a fast-growing share in the market. The large middle-class population base across emerging economies such as India, is leading to a heightened adoption of pets. In addition, these countries have high cases of depression which is leading to an escalation in sentiments towards pets. North America currently holds the largest segment of the market, due to market maturity, vast number of pets, extensive network of veterinarians, and availability of advanced veterinary procedures.
Veterinary Orthopaedic Implants Industry Definition and Major Segments
A veterinary orthopaedic implant is defined as a medical equipment which is designed to be used as a stabiliser in orthopaedic surgical procedures performed on animals. This equipment provides solidity to the bones and tendon structures. Veterinary orthopaedic implants provide support to critical musculoskeletal areas of animals including hips, knees, and elbows, among others.
Based on product type, the veterinary orthopaedic implants market can be segmented into:
- Plates (further breakup by type)
- Compression Plates
- Arthrodesis Plates
- L – Plates
- Acetabulum Plates
- T – Plates
- Bending Iron
- Pins and Wires
The market can be broadly categorised based on application into:
- Knee Replacement
- Elbow Replacement
- Hip Replacement
- Trauma Fixation
The significant end uses of the product include:
- Veterinary Hospitals
- Veterinary Clinics
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Veterinary Orthopaedic Implants Market Trends
The key trends in the veterinary orthopaedic implants market include technological advancements in veterinary healthcare infrastructure. The emergence of 3D printing, which provides support to veterinarians ramp up the production of titanium implants, is further contributing to the market growth.
Meanwhile, the increasing mergers and acquisitions by the major medical device manufacturing companies, aimed towards expanding their customer base, are crucial trends in the market. In April 2022, Vimian Group, a prominent veterinary company based in Switzerland, announced the acquisition of the assets of New Generation Devices (NGD). This acquisition is of grave strategic importance to this company, helping it to reach out new potential customers.
Moreover, the increasing awareness pertaining to the innovations of new and strong veterinary orthopaedic implants in healthcare units is an encouraging trend leading to expanded growth opportunities for veterinary orthopaedic implants market.
The increasing urbanisation and rising animal welfare infrastructure are further fuelling the market growth. Furthermore, the increasing popularity of protective dog breeds such as Rottweiler, Great Dane, and Pitbull, among others, are likely to boost the need for better animal healthcare infrastructure leading to greater demand for veterinary orthopaedic implants from healthcare units.
Key Market Players
The major players in the veterinary orthopaedic implants market report are B. Braun Vet Care GmbH, Everost Inc., BioMedtrix, LLC, Veterinary Orthopaedic Implants, Inc., and Kyon AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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