The veterinary orthopedic implants market provides surgical solutions for pets dealing with injuries and degenerative diseases. These implants help in retaining mobility and minimizing pain for pets with bone fractures or other orthopedic issues. Common implants used include plates, screws, pins/wires, rods, and cages. They are made from titanium and stainless steel for strength and biocompatibility. Demand is driven by rising pet adoption and humanization of pets. Owners are willing to spend more on advanced veterinary care to improve quality of life for their pets.
The Global Veterinary Orthopedic Implants Market Is Estimated To Be Valued At US$ 296.5 Million In 2023 And Is Expected To Exhibit A CAGR Of 5.9% During The Forecast Period (2023-2030).
Key Takeaways
Key players operating in the veterinary orthopedic implants market are B. Braun Vet Care GmbH, BioMedtrix, LLC, IMEX Veterinary, Inc., Innoplant Medizintechnik GmbH, KYON AG, Orthomed (UK) Ltd., BLUESAO Co. Ltd., New Generation Devices (NGD), Johnson & Johnson, MWI Animal Health, AmerisourceBergen Corporation, Platon Japan Co., Ltd., Veterinary Orthopedic Implants, NORER Orthopedic & Dental, OC Oerlikon Management AG, Jindal Medi Surge, Inc., and Mercury Orthopedics and Design, Inc. Growing pet adoption in developed countries is driving the demand for veterinary orthopedic implants. Advancements in material sciences have led to development of novel lightweight and corrosion-resistant implant alloys with superior strength.
Market trends
Use of 3D printing technology: 3D printing is gaining popularity for manufacturing customized Veterinary Orthopedic Implants Market Demand with precise geometries based on individual pet scans. This improves surgical outcomes.
Growing minimally invasive procedures: Advances in miniaturized implants and insertion tools allow fixation of fractures via smaller incisions, reducing procedural trauma and recovery times for pets.
Market Opportunities
Developing economies: Countries in Asia Pacific and Latin America are witnessing rising pet care expenditures as pet humanization increases. This provides opportunities for veterinary implant manufacturers.
Stem cell therapy integration: Combining implants with regenerative procedures like stem cell injections could augment healing and offer pets a less invasive solution for treating arthritis and joint disorders long-term.
Impact of COVID-19 on Veterinary Orthopedic Implants Market
The global veterinary orthopedic implants market has been impacted negatively due to COVID-19 pandemic. During the initial lockdown phases, veterinary practices witnessed declining numbers of patient visits. Many elective procedures were postponed due to limitations on resources and staff. Reduction in mobility also restricted pet owners from taking their pets for regular checkups and planned surgeries. This led to drop in demand for orthopedic implants from Q2 2020 to Q1 2021. However, as restrictions eased in several parts of the world from mid-2021, veterinary practices observed gradual recovery.
The number of orthopedic surgeries gradually increased as backlogged cases were addressed. While telehealth consultations picked up during peak pandemic phases to provide essential care to pets, physical visits gained traction post lockdowns. Market players pivoted to digital platforms to educate vets and farmers about innovative products. Going forward, as vaccination drives progress globally, the veterinary implants market is projected to get back on growth trajectory towards pre-COVID levels by 2023. Safe resumption of elective procedures and return to normalcy will further aid the market rebound. Focus on research to develop minimally invasive surgeries will also boost demand.
Geographical regions of concentration:
North America region holds the major share of the global veterinary orthopedic implants market in terms of value. Presence of advanced veterinary healthcare infrastructure and rising pet adoption are major factors driving high demand for orthopedic implants from the region. Within North America, the United States represents the largest market owing to growing number of veterinary practices, rising pet insurance purchases, and greater affordability and accessibility of care.
Fastest growing region:
Asia Pacific region is expected to be the fastest growing market for veterinary orthopedic implants during the forecast period owing to increasing awareness about animal health, rise in disposable incomes, and growing pet population in emerging countries like India and China. Rising investments by leading global players into the region to tap into growth opportunities will further aid market expansion.
Get More Insights On- Veterinary Orthopedic Implants Market
Get This Report In Japanese Language
Get This Report In Korean Language
About Author:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)