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Veterinary Orthopedic Implant Market By Product (Plates, Jigs, Screws, Pins & Wires), End-User (Veterinary Hospitals, Veterinary Clinics, Research Institutes), Animal (Dog, Cat), & Region for 2024-2031


Published on: 2024-08-06 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Veterinary Orthopedic Implant Market By Product (Plates, Jigs, Screws, Pins & Wires), End-User (Veterinary Hospitals, Veterinary Clinics, Research Institutes), Animal (Dog, Cat), & Region for 2024-2031

Veterinary Orthopedic Implant Market Valuation – 2024-2031

The growing expertise in veterinary orthopedics is producing a highly qualified workforce committed to operating on animals in specialized surgical procedures. This increased level of proficiency not only raises success rates but also encourages pet owners to feel more confident when seeking orthopedic solutions for their animals. Thus, the increasing specialization in veterinary orthopedics is surging the market size surpassing USD 275.55 Million in 2024 to reach a valuation of USD 422.88 Million by 2031.

The advancement of 3D printing technology is transforming the industry by permitting the creation of implants customized for each patient, considering the unique anatomy of each animal. This tailored method speeds up healing periods and improves implant performance, which increases demand for this ground-breaking method. Thus, the development of patient-specific implants is enabling the market to grow at a CAGR of 5.50% from 2024 to 2031.

Veterinary Orthopedic Implant MarketDefinition/ Overview

Orthopedic implants are surgical instruments used to treat a variety of orthopedic disorders in people and animals, as well as to help heal shattered bones and restore the functionality of damaged bone components. These implants, which treat conditions including arthritis and bone fractures, are essential components of veterinary care. They include blocks, screws, tubes, pins, and other surgical stainless steel coated with plastic.

The growing number of pet owners who place a high priority on their animals’ health is fueling the growing demand for veterinary services, which in turn is pushing up the demand for orthopedic implants and other animal health goods. These implants are used to replace or repair damaged bones, cartilage, or joints that arise from trauma, deformities, aging processes like osteoporosis, or both. Typically, they are made of titanium, stainless steel, or cobalt-based alloys.

Typically titanium, cobalt-chrome alloy, nickel-titanium alloy (nitinol), stainless steel, and titanium are among the metals and alloys used in orthopedic implants. Other metals that are used in a variety of medical equipment include gold, platinum, silver, iridium, tantalum, and tungsten. For example, titanium dental implants have become more and more popular because of their dependability and longevity, yet even after decades of research and development, problems and hazards might still occur.

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How the Increasing Spending on Pet Health is Surging the Growth of the Veterinary Orthopedics Implant Market?

The growing readiness to make investments in the health of pets as more people accept them as essential members of the family. This shift in culture, together with rising disposable budgets, is driving demand for sophisticated procedures like implant-based orthopedic surgery. Pets are living longer lives because of improvements in nutrition and veterinary medicine.

However, orthopedic disorders like osteoarthritis are more common as people age. The demand for joint replacements and other implant treatments to preserve the quality of life for older pets is fueled by this demographic trend. Pet owners considering orthopedic operations now have financial protection thanks to the growing popularity of pet insurance programs. Owners are more inclined to choose implant surgeries now that the financial burden has been reduced, which is fueling industry expansion. Continuous efforts in research and development are producing long-lasting, biocompatible implant materials designed with animals in mind. These materials improve surgical results and reduce recuperation times, increasing the appeal of implant surgeries to veterinarians and pet owners alike.

Pet care is being revolutionized using minimally invasive techniques for orthopedic surgeries on animals. These methods speed up recovery and lessen post-operative pain, which increases pet owners’ interest in implant surgeries and leads to market growth. The need for cutting-edge veterinary care, such as orthopedic operations including implants, is highlighted by the growing emphasis on animal welfare in society. The adoption of these procedures is being driven by an increasing number of pet owners who place a high priority on the health of their animals. Advances in Animal-Specific Pain Management Protocols receiving orthopedic surgery are improving the surgical procedure. These procedures significantly impact pet owners’ choices to have implant surgery performed on their cherished friends by reducing discomfort.

How the Lack of Financial Security and Risk of Post-Operative Operations are Hampering the Growth of the Veterinary Orthopedic Implant Market?

The limited insurance coverage for orthopedic procedures impedes the growth of the veterinary orthopedic implant market. Pet insurance is becoming more and more common; however, some plans may not cover modern procedures like orthopedic implant surgery, or they may not cover them at all. When considering such surgeries for their pets, pet owners may be greatly discouraged by the lack of complete financial security, since they may be reluctant to proceed out of fear of incurring large out-of-pocket costs.  Side effects of orthopedic surgery for animals hamper the growth of the veterinary orthopedic implant market. Side effects, including infections, implant failure, and chronic discomfort, can be difficult for owners and dogs to deal with. When weighing the possible advantages of implant surgery against the likelihood of unfavorable results, pet owners may become hesitant due to these hazards.

Implant-related veterinary orthopedic surgeries are quite expensive, including the implant itself, the surgery, and the follow-up treatment. certain costs represent a major financial hurdle for many pet owners, which restricts the use of certain treatment alternatives.Even with the increasing expertise in veterinary orthopedics, some areas still lack sufficient numbers of experienced orthopedic specialists. The number of surgeries performed is limited, and market progress in these areas is hampered by the lack of readily available surgeons.

When it comes to undergoing medical procedures on their pets, some pet owners struggle with moral decisions, especially when there is uncertainty about the anticipated increase in the animal’s quality of life. These misgivings could make people prefer cautious treatment techniques to implant operations. In underdeveloped areas, knowledge of pet healthcare, especially with reference to advanced procedures like orthopedic implant surgeries, may be inadequate. Limited knowledge among pet owners and veterinarians alike hampers market growth in these regions, as potential demand remains untapped.

The regulatory approval process for new veterinary orthopedic implants is often rigorous and protracted. Compliance with stringent regulatory standards adds complexity and time to the introduction of innovative technologies to the market, impeding growth and innovation in the sector.

Category-Wise Acumens

Which are the Factors Driving the Plates Segment in the Veterinary Orthopedic Implant Market?

The plates segment is showing significant dominance in the veterinary orthopedic implant market and is expected to continue its dominance throughout the forecast period. Animal orthopedic surgeons in the veterinary field use plates as flexible and essential instruments for a range of surgical procedures. These plates play a critical role in joint fusion, bone stability maintenance, and fracture healing. Because of their versatility, they are crucial in treating a broad range of orthopedic conditions in animals, from simple fractures to complicated joint problems.

In veterinary orthopedics, the efficacy of plate technology is well-established, providing a dependable remedy for various ailments. These plates offer the stability required for healthy joint function and bone healing, which in turn guarantees reliable and successful surgical intervention results. Because of this consistency, veterinarians and pet owners can feel certain that the established history of plate-assisted procedures will result in efficient and long-lasting outcomes.

In the field of veterinary orthopedics, plate technology is constantly evolving. To improve surgical outcomes and the general functionality of the damaged bones and joints advances in materials science and design are continuously pushing the envelope. High-strength, biocompatible materials are used to make modern plates, which encourage greater body integration, lower the danger of infection, and quicken the healing process. Furthermore, these plates’ designs have changed throughout time to provide increased flexibility and accuracy during procedures, enabling more individualized and successful therapies.

These continuous improvements demonstrate a strong dedication to developing veterinary orthopedics and enhancing patient care. Researchers and producers are working to improve plate technology continuously to increase the success of surgical treatments and guarantee the greatest possible recuperation and standard of living for patients who are animals. This commitment to innovation promotes a better future for the treatment of orthopedic disorders in animals as well as improving the skills of veterinary surgeons.

How the Advanced Facilities and Expertise Fostering the Growth of the Veterinary Hospitals Segment in the Veterinary Orthopedic Implant Market?

The veterinary hospitals segment is showing significant dominance in the veterinary orthopedic implant market and is expected to continue its dominance throughout the forecast period. Compared to smaller clinics, veterinary hospitals usually have more sophisticated surgical equipment and a larger concentration of orthopedic specialists with specialized training. Hospitals are now able to undertake a wider range of intricate treatments that need advanced orthopedic implants thanks to this enhanced infrastructure. These organizations can successfully and precisely handle difficult issues since they have highly skilled people and cutting-edge technology. Since many veterinary clinics provide emergency care around the clock, they are crucial locations for instances involving trauma and urgent care. Because emergency services are available around the clock, there is an increase in the number of trauma cases, many of which require emergency implant surgery. This capacity highlights the significance of having cutting-edge surgical implants on hand for emergencies in addition to strengthening the hospital’s role in providing critical care.

Veterinary clinics continue to lead the way in orthopedic care by having access to state-of-the-art equipment, which guarantees the best results for their patients. The increased availability of specialized orthopedic care in veterinary clinics could have a major impact on the future growth of the veterinary orthopedic market. Clinics can execute more sophisticated operations and hence increase their market share as they get greater access to cutting-edge technologies and knowledge. By transferring expertise and knowledge from hospitals to clinics, advanced treatment can become more accessible to a wider range of people.

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Country/Region-wise Acumens

How the High Pet Ownership and Spending are Surging the Growth of North America Veterinary Orthopedic Implant Market?

North America is substantially dominating the veterinary orthopedic implant market and is expected to continue its dominance throughout the forecast period. North America has a high percentage of pet ownership, with an increasing number of pet owners perceiving their animals as family members. This cultural shift translates into a strong desire to invest in advanced veterinary treatment, such as complex orthopedic surgeries including implants. Pet owners are more likely to seek high-quality medical treatments to safeguard their pets’ health and well-being, demonstrating the strong emotional attachments they have with their animal friends.

Rising disposable income in North America helps pet owners dedicate more cash to their pets’ health care. Individuals and families having more financial flexibility, are more likely to invest in complete Veterinary services, including modern orthopedic implants. This economic trend increases the demand for specialist treatments that can improve the quality of life for pets with orthopedic issues. North America has a strong and well-established network of veterinary hospitals and clinics, each equipped with cutting-edge equipment and manned by highly qualified veterinary specialists. This comprehensive infrastructure provides a solid foundation for sophisticated orthopedic operations involving implants.

The availability of modern diagnostic tools, surgical equipment, and competent practitioners ensures that pets receive the best possible treatment while managing orthopedic ailments. As a center for veterinary medicine innovation, North America is at the forefront of creating novel and improved orthopedic implants and surgical procedures. Leading research universities and medical device manufacturers in the region is always pushing the limits of what is feasible in veterinary orthopedics. These technological breakthroughs fuel market growth by providing more effective and dependable treatment alternatives for pets with orthopedic disorders. Animal welfare is becoming increasingly important in North America, pushing pet owners to seek innovative treatments to improve their pets’ quality of life. This emphasis on welfare is evident in the rising demand for orthopedic surgery including implants, as pet owners seek to relieve discomfort and restore movement in their animals. Various advocacy groups and regulatory bodies support animal welfare by encouraging the use of sophisticated veterinary treatments.

Pet obesity is a common problem in North America, resulting in a higher frequency of orthopedic diseases including osteoarthritis, and cruciate ligament injuries. The increased risk of these diseases in overweight pets generates a high demand for orthopedic implant operations. Addressing obesity-related orthopedic disorders requires both surgical intervention and long-term care measures to guarantee pets’ general health and mobility.

How the Rapidly Growing Economics and Increasing Pet Ownership Are Enabling the Growth of the Asia Pacific Veterinary Orthopedic Implant Market During the Forecast Period?

Economic expansion in countries like China and India is causing a large increase in disposable income. With this increased financial capacity, pet owners can devote more resources to their pets’ health and well-being. As a result, there is an increased need for specialized veterinary operations, such as orthopedic surgeries with implants. Economic expansion in these countries allows for better access to high-quality veterinary care, indicating an overall improvement in the standard of living. Pet ownership is increasing throughout the Asia Pacific area, driven by reasons such as urbanization, changing lifestyles, and a growing emotional attachment to pets. As more people relocate to cities and adopt modern lives, the popularity of pet ownership grows.

The growing pet population generates a large potential market for veterinary products, such as orthopedic implants. The increasing number of pets creates a greater demand for specialist veterinarian services to manage a variety of health concerns. The veterinary healthcare business in Asia Pacific is rapidly expanding, as evidenced by the introduction of new veterinary hospitals and clinics outfitted with advanced equipment. This advancement improves the capacity to undertake intricate procedures, such as orthopedic surgeries involving implants. The developing infrastructure not only matches present demand but also promotes future growth in the veterinary orthopedic implant market. As additional facilities open, more people will have access to modern veterinary care, which will benefit both pet owners and animals.

Pet owners in the Asia Pacific area are growing more informed regarding pet healthcare alternatives. This increased awareness includes a comprehension of how orthopedic operations might improve their pets’ quality of life. Education initiatives, veterinarian advice, and media attention all contribute to this increased awareness. As pet owners become more aware of the possibilities for innovative treatments to relieve pain and improve movement in their pets, the market for orthopedic implants is likely to increase. Several governments in the Asia Pacific region are launching measures to promote animal welfare. These programs frequently involve assistance for advanced veterinary treatment, which indirectly benefits the veterinary orthopedic implant market. These government initiatives encourage greater standards of animal health and welfare, creating an environment where modern therapies, including orthopedic procedures with implants, are more widely approved.

Competitive Landscape

The veterinary orthopedic implant market is highly competitive, driven by the continuous advancements in technology and the growing demand for high-quality veterinary care. Key players in this market are focusing on product innovation, strategic partnerships, mergers and acquisitions, and expanding their distribution networks to maintain and enhance their market position.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the veterinary orthopedic implant market include

  • B. Braun Melsungen AG
  • Vimian Group AB
  • Integra LifeSciences
  • DePuy Synthes (Johnson & Johnson)
  • AmerisourceBergen Corporation
  • Arthrex, Inc.
  • Orthomed (UK) Ltd
  • Veterinary Instrumentation
  • Fusion Implants
  • Narang Medical Limited

Latest Developments

  • In June 2023, Vimian announced the acquisition of New Generation Devices to broaden its veterinary orthopedic implant products.
  • In December 2022, Vimian’s Movora announced the completion of one of the first orthopedic procedures with 3D-printed implants in dogs and horses.
  • In August 2022, Vimian’s MedTech section Movora announced an acquisition of the assets of New Generation Devices (NGD), a veterinary orthopedic implants company based in New Jersey, USA. The acquisition has expanded the company’s customer base, allowing it to offer a broad product line of veterinary orthopedic implants and surgical apparatus.
  • In October 2021, Vimian entered the Canadian veterinary medical devices market, offering full-service orthopedic implants.
  • In June 2020, Fidelio Capital announced the acquisition of a controlling stake in Veterinary Orthopedic Implants (VOI), a top provider of veterinary implants and devices. This acquisition enabled the company to expand and grow.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of ~5.50% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Type
  • Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

B. Braun Melsungen AG, Vimian Group AB, Integra LifeSciences, DePuy Synthes (Johnson & Johnson), AmerisourceBergen Corporation, Arthrex, Inc., Orthomed (UK) Ltd, Veterinary Instrumentation, Fusion Implants, Narang Medical Limited

Customization

Report customization along with purchase available upon request

Veterinary Orthopedic Implant Market, By Category

Type

  • Liquid Form
  • Powder Form

Application

  • Beverage
  • Confectionery
  • Dairy

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )