Veterinary Orthopedics Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Veterinary Orthopedics Market is segmented By Product Type (Plates, Instruments, Implants, Screws, Others), By Application Type (Trauma Fixation, Total Knee Replacement, Total Elbow Replacement, Total hip replacement, Others), By End User (Veterinary Hospitals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Veterinary Orthopedics Market Overview

The Global Veterinary Orthopedics Market reached USD 505.3 million in 2022 and is projected to witness lucrative growth by reaching up to USD 885.1 million by 2030. The global veterinary orthopedics market is expected to exhibit a CAGR of 7.4% during the forecast period (2023-2030). Veterinary orthopedics is dedicated to the identification and management of musculoskeletal conditions in animals. It entails the treatment of a variety of orthopedic ailments, including fractures, ligament injuries, joint illnesses, and spinal disorders among others.

Veterinary orthopedic surgeons frequently treat animal fractures mostly. This entails utilizing methods like casting, splinting, or surgical intervention, such as internal fixation with pins, plates, or screws, to stabilize broken bones. 

Veterinary Orthopedics Market Scope

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Veterinary Orthopedics Market Dynamics

Pet Parenting Driven by Millennials is Boosting the Global Veterinary Orthopedics Market Growth

The need for veterinary services, particularly orthopedic treatments, has increased as a result of the increasing number of pet owners around the world. As more people view their pets as members of the family, they are prepared to spend money on cutting-edge orthopedic treatment to enhance the quality of life for their animals. 

For instance, India has 32 million pets and is experiencing population growth of more than 12% annually. In addition, the pandemic pet obsession was spurred by younger Americans; 32% of respondents aged 18 to 34 reported getting their most recent pet in the previous six months. These owners typically spend more on food, treats, and pet care than owners of other age groups.

Advancements in Veterinary Orthopedic Surgery Boost the Global Veterinary Orthopedics Market Growth

Minimally invasive procedures have significantly changed animal orthopedic surgery. This technique employs fewer incisions, which results in less discomfort, less tissue damage, and faster healing. Numerous procedures fall under the category of minimally invasive surgery, including arthroscopy, which involves inserting a tiny camera into the joint to allow the surgeon to diagnose and treat the problem. 

For instance, total joint replacement is a technique that is rising in popularity for animals with advanced osteoarthritis or other joint-damaging conditions. The artificial joint, which may be made of ceramic, plastic, or metal, is designed to be durable and sturdy. 

High Cost of Orthopedic Veterinary Care is Hampering the Global Veterinary Orthopedics Market Growth

For pet owners, the high expense of orthopedic veterinary care is a major concern. Orthopedic operations in animals require specialized knowledge and abilities. To conduct these intricate treatments, which frequently need cutting-edge methods and tools, orthopedic surgeons must complete considerable training and study. The increased expense of orthopedic procedures is a result of these professionals' experience and expertise. 

In veterinary orthopedics, precise diagnosis is essential. To evaluate the health of bones and joints, diagnostic imaging techniques like X-rays, CT scans, and MRIs are frequently employed. The entire cost of treatment is increased by the pricey equipment and skilled professional interpretation required for these imaging techniques. 

Veterinary Orthopedics Market Segment Analysis

The global veterinary orthopedics market is segmented based on product, application, end-user, and region.

The Implants Segment is Expected To Hold a Dominant Position in the Market Over The Forecast Period

The implants segment accounted for the highest market stake accounting for approximately 55.4% of the veterinary orthopedics market in 2022. Active major players are driving the implants segment in the market. For instance, in March 2022, animal care is a part of Biomedical Bonding's Benevolent composite bone fracture fixators. To verify the effectiveness of its ground-breaking plating fixator product AdhFix, which targets fractures in small animals, the company has begun working with VetCare in New Zealand. 

The solution eliminates the need for conventional pre-shaped metal plates and allows for patient-specific surgical treatments for the fixation of complicated fractures. 

Source: DataM Intelligence Analysis (2023)

Global Veterinary Orthopedics Market Geographical Share

North America Holds a Dominant Position in the Global Veterinary Orthopedics Market

North America is estimated to hold around 41.1% of the total market share throughout the forecast period. Technological advances and the availability of products are the factors expected to boost regional growth over the forecast period. The number of Americans who own pets is steadily increasing, and pet insurance is also becoming more and more popular. In 2023, 66% of American households, or 86.9 million residents, will have pets.

Over the past three decades, there has been a noticeable growth in pet ownership. According to a Forbes Advisor study, 78% of pet owners got their animals during the epidemic. The majority of households with pets are those with annual incomes of $100,000 or more; 63% of these households have dogs and 40% have cats.

Source: DataM Intelligence Analysis (2023)

Veterinary Orthopedics Market Companies

The major global players in the market include B. Braun Melsungen AG, Movora, TruemedVet, Veterinary Instrumentation (Henry Schein), Securos Surgical (AmerisourceBergen Corporation), Orthomed (UK) Ltd, Arthrex, Inc., Integra LifeSciences, GerVetUSA, and DePuy Synthes VET among others.

COVID-19 Impact on Veterinary Orthopedics Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine war affected the veterinary orthopedics market due to the lack of veterinary facilities being impacted during times of geopolitical instability and economic uncertainty. The veterinary infrastructure in the troubled areas has probably been harmed by the war. It is possible that veterinary facilities and clinics have been destroyed or damaged, which has reduced the availability of orthopedic care. This have a detrimental effect on the market and restrict access to specialized veterinary orthopedic treatments.

Artificial Intelligence Analysis:

Artificial intelligence (AI) is increasingly being used in the veterinary orthopedics market to improve various aspects of the diagnosis of the disease. To help veterinarians diagnose orthopedic disorders, AI systems examine radiographic images like X-rays or CT scans. AI is able to quantify evaluations of bone and joint structures, identify anomalies, and measure angles and distances. This make the diagnosis of fractures, joint conditions, and other orthopedic problems more precise and effective. 

By Product 

• Instruments
• Implants
  • Plates
    • Compression Plates
    • Arthrodesis plates
    • Acetabulum plates
  • Screws
  • Others 

By Application   

• Total Knee Replacement
• Total Hip Replacement
• Total Elbow Replacement
• Trauma Fixation
• TPLO
• TTA
• Lateral Fixation
• Others 

By End-user

• Veterinary Hospitals 
• Veterinary Clinics 
• Academic and Research Institutions

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In September 2022, TheraVet, a leader in the treatment of osteoarticular illnesses in animals, signed an exclusive distribution contract with Invictos Orthopaedics LLC, a North American firm that creates, develops, and sells veterinary orthopedic products and medical equipment.

Why Purchase the Report?

• To visualize the global veterinary orthopedics market segmentation based on the product, application, end-user, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of veterinary orthopedics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global veterinary orthopedics market report would provide approximately 61 tables, 62 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies