Veterinary Orthopedic Implants Market Size
Veterinary Orthopedic Implants Market size was valued at around USD 360 million in 2022 and is estimated to witness 2032. The rise in the occurrence of orthopedic disorders in animals, such as injury and arthritis, is driving the global market growth.
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Growing cases of cruciate ligament rupture in dogs globally is expected to supplement the market growth. For instance, the condition leading to cranial cruciate ligament rupture (CCLR) is often present in both knees, and about 30-50% of dogs will rupture both cranial cruciate ligaments (CCLs) within 1-2 years. Thus, increasing cases of cranial cruciate ligament rupture will accelerate the market growth.
Veterinary Orthopedic Implants Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Veterinary Orthopedic Implants Market Size in 2022 |
360 Million USD |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
7.7% |
| 2032 Value Projection |
750.5 Million USD |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
466 |
| Tables, Charts & Figures |
514 |
| Segments covered |
Product Type, Animal Type, Application, End-use, and Region |
| Growth Drivers |
- Increasing pet ownership
- Rising prevalence of orthopedic problems in animals
- Growing spending on animal health
- Increasing penetration of pet insurance
|
| Pitfalls & Challenges |
- High cost of surgeries
- Lack of skilled professionals in developing nations
|
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Furthermore, the veterinary orthopedic implants market is predicted to rise due to the availability of enhanced animal healthcare infrastructure, an increase in unmet animal healthcare demands, and a surge in product demand.
Veterinary orthopedic implants are medical devices designed for use in animals to stabilize and support bones and joints that have been damaged or weakened due to injury, disease, or congenital conditions. These implants are typically made from biocompatible materials such as titanium, stainless steel, or cobalt chromium alloy and are surgically implanted into the affected area to provide support, stability, and alignment during the healing process.
COVID-19 Impact
The COVID-19 pandemic had a negative impact on the veterinary orthopedic implants market. The increasing number of cases in the initial months of the pandemic, stringent restrictions on the movement of humans and goods resulted in limited patient influx in veterinary facilities. Also, shortage of skilled healthcare professionals had largely disrupted the operations of veterinary facilities, resulting into a negative impact on providers in the market. Also, the other factors affected the market include an increase in the burden of COVID-19-related hospitalization and limited availability of medical care.
Veterinary Orthopedic Implants Market Trends
In recent years, more and more people have been welcoming furry friends like cats and dogs into their homes. Just last year, around 1 million pets found their forever homes in the U.S., with dogs taking the lead at 58%, cats not far behind at 41%, and other cuties making up the remaining 1%. This surge in pet adoption has led to a growing need for animal healthcare, boosting the overall market. Plus, all the benefits of having a pet, like feeling less stressed, anxious, and down, and even having lower blood pressure, are making more people eager to share their lives with a four-legged companion. And as society becomes more pet-friendly, we can expect even more people to adopt, giving the pet market an extra boost in the years to come.
Veterinary Orthopedic Implants Market Analysis
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The pet orthopedic implants market is all about the tools and the parts that help fix broken bones and other injuries in animals. The parts, or "implants," are further broken down into different types, like plates, screws, wires, and other things. The implant part of the market was the biggest in 2022, worth about $236.7 million. Why is the implant part of the market so big? Because there are more and more animals that are getting hurt, especially in their bones and muscles. Some of the most common problems are elbow and hip dysplasia, and torn ligaments in the knees. These injuries often need surgery, which means using implants to fix the bones and help them heal properly. Another reason for the big market is that these implants are easy to find, they're affordable, and companies are always coming up with new and better ones. All of this helps the market grow even bigger.
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When it comes to pets and farm animals, the market for orthopedic implants is divided into two main groups. The majority of the market, about 86%, is for companion animals, which include dogs, cats, and other pets. People love their furry friends like family and spend quite a bit on them. In fact, pet owners in Europe alone spend over $20 billion a year on pet food, toys, health care, and other services. This has led companies to come up with new ways to meet the growing demand for pet care. Another reason for the growth of orthopedic implants is the increasing number of overweight pets. For example, experts estimate that almost 60% of pets are obese. This can lead to problems like osteoarthritis, which can be treated with orthopedic surgery. So, as pet ownership continues to rise and more and more people pamper their furry friends, the demand for veterinary orthopedic implants is bound to increase.
When it comes to fixing broken bones and joint problems in pets, vets use different kinds of implants depending on where the problem is. Tibial plateau levelling osteotomy implants (TPLO) are commonly used to help with leg and knee issues, and they've been really popular since 2022. In fact, experts say that this part of the market is expected to grow even more in the coming years, around 8.7% from 2023 to 2032. Why is this TPLO implant so popular? Well, it turns out that pets are dealing with more injuries and arthritis nowadays. Plus, overweight pets are more likely to hurt their knee ligaments. For example, a study by the Association for Pet Obesity Prevention found that in 2022, over half of cats were overweight or obese. So, as more and more pets become overweight, the need for these implants is expected to grow.
The market for veterinary orthopedic implants is divided into two main partshospitals and clinics for animals, and other places. Veterinary hospitals and clinics are expected to grow to about $567 million by 2032. This growth will happen because more and more veterinary hospitals and clinics are opening, and people are getting more aware of how important it is to keep animals healthy. Also, as more young pets get fractures and other bone injuries, the need for these implants will go up. Young dogs are seven times more likely to break a bone than adult dogs. Plus, more and more pet owners are taking their animals to veterinary hospitals and clinics for all of their needs because these places have the latest technology. For example, the Indian government said in December 2022 that it would start the Livestock Health & Disease Control Program (LHDCP) to make veterinary care and disease control better. Things like this will help the market grow.
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The US veterinary orthopedic implants market has been booming, reaching a whopping $106.2 million in 2022. And the reason? You guessed it – the surge in pet adoptions! America has seen an explosion in the number of veterinary hospitals and clinics, making it a haven for pet care. Plus, pet insurance is taking off, giving pet owners peace of mind and fueling the market's growth. Let's not forget the rising disposable income of Americans. It's giving them more wiggle room to spend on their furry friends, including top-notch medical care. And with advanced pet care services becoming more prevalent, the market is set to soar even higher. According to a reliable source, the number of American households with at least one kitty cat has jumped from 26% in 2020 to 29% in 2022. And get thismore and more millennials are choosing to cuddle with companions instead of starting families. That's another boost for the veterinary orthopedic implants market!
Veterinary Orthopedic Implants Industry News
- In August 2022, Vimian’s MedTech segment Movora acquired the assets of New Generation Devices (NGD), a veterinary orthopedic implants company in New Jersey, U.S. This acquisition has helped the company to expand their customer base to which the company can offer full product portfolio of veterinary orthopedic implants and surgical instrumentation.
- In June 2020, Fidelio Capital acquires a majority of the shares in Veterinary Orthopedic Implants (VOI), a leading provider of veterinary orthopedic implants and instruments. This acquisition helped the company to expand and grow.
Veterinary orthopedic implants market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
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By Product Type
- Instruments
- Implants
- Plates
- Screws
- Pins & Wires
- Other Implants
By Animal Type
- Companion Animals
- Dogs
- Cats
- Other Companion Animals
- Livestock Animals
By Application
- Tibial Plateau Leveling Osteotomy Implants (TPLO)
- Tibial Tuberosity Advancement Implants (TTA)
- Hip Replacement
- Knee Replacement
- Elbow Replacement
- Other Applications
By End-use
- Veterinary Hospitals & Clinics
- Other End-users
The above information is provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- Netherlands
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Vietnam
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Rest of MEA
