The veterinary orthopedic implants market is anticipated to hit US$ 580 million by 2030 with a rising CAGR of 7.2% from 2021 to 2030, according to new report study by Precedence Research.
The veterinary orthopedic implants market is anticipated to hit US$ 580 million by 2030 with a rising CAGR of 7.2% from 2021 to 2030, according to new report study by Precedence Research.
Growth Factors
The most common cause of pain in animals is orthopedic illness. Various orthopedic operations for animals are available at different surgical centers or veterinary teaching centers. The stainless-steel veterinary orthopedic implants are widely utilized in orthopedic surgery such as complete hip replacement, total knee replacement, elbow replacement, and other procedures. The veterinary orthopedic implants are available in a variety of sizes to treat a variety of orthopedic diseases. The rise in the number of private and government veterinary hospitals and clinics as well as the surge in the number of osteoarthritis and bone fractures among animals are the key factors driving the global veterinary orthopedic implants market during the forecast period. Various governments are providing financial assistance and enacting favorable legislation in the field of veterinary medicine. However, in recent years, new implant materials have been tried through research and development.
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Furthermore, livestock owners have become more conscious of animal welfare. In the veterinary orthopedic implants market, new animal models have been incorporated in research. The increased investment by pet owners, particularly dog owners has driven the veterinary orthopedic implants market’s prospects. The goal of an increasing number of veterinary orthopedic implant surgeries for dogs is to reduce the incidence of surgical site infections. In this regard, postoperative antimicrobials were critical in several randomized studies involving veterinary orthopedic implants in dogs, where these were given throughout the operative period. In such investigations, researchers have benefitted from the use of multivariable logistic regression. More pet owners will seek safer and effective choices for bone disorders in the coming years, growing the market for veterinary orthopedic implants. Furthermore, the growing popularity of animal sports such as greyhound racing, horse racing, rodeos as well as illicit sports such as dog fighting and bull fighting is predicted to increase the number of cases of orthopedic injuries in animals, hence driving demand for veterinary orthopedic implants.
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Report Highlights:
- Based on the product, the plates segment dominated the global veterinary orthopedic implants market in 2021 with largest market share. The demand for veterinary orthopedic implant plates will be boosted by factors such as technical advancements and the usage of novel materials.
- By end user, the veterinary hospitals segment is the largest segment in the veterinary orthopedic implants market. The animal owners are encouraged to attend veterinary clinics because they are equipped with the most up to date equipment and competent veterinarians, allowing them to provide better and more effective treatment for their pets.
- North America is the largest segment for veterinary orthopedic implants market in terms of region. The presence of significant number of veterinary clinics in the country as well as an increasing number of veterinary healthcare employees will boost the growth of the veterinary orthopedic implants market in the region.
- Asia-Pacific region is the fastest growing region in the veterinary orthopedic implants market. In the upcoming years, the veterinary orthopedic implants market in the region is expected to be propelled by an expansion in the population of livestock animals and an increase in pet adoption.
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Future of Veterinary orthopedic implants Market
The growing popularity of pet animals such as cats and dogs in key regions as well as high arthritis rates and obesity in dogs and cats are likely to boost the demand for orthopedic implants and boost the global veterinary orthopedic implants market at a rapid pace. The obesity and arthritis in animals are predicted to increase the likelihood of orthopedic illnesses, which will drive demand for implants and propel the worldwide veterinary orthopedic implants market forward.
COVID-19 Impact Analysis:
- The COVID-19 pandemic had worsened in early stages and had multiple unpredicted effects across a wide range of businesses.
- The fabrication of orthopedic implants has also hit difficulties due to lack of raw materials and a gradual increase in labor shortages.
- The closure of foreign trade as a result of COVID-19 led national closures and lockdowns has put significant strain on manufacturing facilities.
Key Developments in the Marketplace:
- Orthomed announced the launch of a medium size OrthoFoam for modified maquet procedure in February 2019. The company was able to extend its customer base and boost its market position as a result of this launch.
- BioMedtrix LLC. partnered with Laboratories Macrimasa Vet in January 2019 to distribute the TPLO Curve and Universal Hip in Spain.
- Rayence Inc. introduced its new MyVet imaging solutions in October 2016 including the EZ RAY AIR, a wireless, hand-held X-ray machine that will aid in the identification of bone ailments.
Market Segmentation
By Product
- Screws
- Pins & Wires
- Plates
- Jigs
- Others
By End User
- Veterinary Clinics
- Veterinary Hospitals
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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