As per Future Market Insights’ latest analysis, the global veterinary orthopedic market value is estimated to increase from USD 637.81 million in 2024 to USD 956.92 million by 2034. Global sales are set to surge at 4.1% CAGR over the assessment period.
Multiple factors are stimulating growth of the veterinary orthopedic industry. These include increasing pet adoption, high spending on pet care, a rise in animal orthopedic disorders, and a focus on innovative product launches.
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In recent years, pet adoption has sharply risen, especially in nations like the United States, Germany, China, and the United Kingdom. According to the HealthforAnimals, around 70% of United States households owned a pet in 2021. This will continue to propel demand for veterinary orthopedic products.
Pet owners increasingly spend huge amounts on pet care as they consider them part of their family. This pet humanization trend will play a key role in facilitating growth of the animal orthopedic industry through 2034.
Growing pet ownership also creates a need for veterinary hospitals to provide better care to the pets. The number of veterinary hospitals is growing across all geographical regions, generating substantial demand for orthopedic instruments and implants.
Major players in the market are channeling their investments into research and development of novel veterinary orthopedic products. Moreover, the key market players are inclined to adopt growth strategies such as product launches and collaboration, among others, to suffice the growing demand for veterinary orthopedics.
Challenges include high costs and regulatory hurdles. Opportunities lie in emerging markets, and AI integration. The need to efficiently meet the requirements of various veterinary facilities while ensuring the supply of advanced orthopedic veterinary implants will also benefit the market.
Key Takeaways from the Market Study:
- The global veterinary orthopedic industry is set to be valued at USD 956.92 million by 2034.
- By product, the implants segment will account for a market revenue share of around 9% in 2024.
- By application, the tibial plateau leveling osteotomy segment is projected to hold a market share of 31.6% in 2024.
- Revenue in the United States is estimated to total USD 204.44 million in 2024.
- China is set to record a CAGR of 3% through 2034.
- Demand in India is anticipated to surge at 3% CAGR through 2034.
“Increasing pet expenditure, rise in orthopedic diseases in pets, and technological advances in veterinary orthopedic products are some key factors boosting growth to the market,” says a lead analyst of Future Market Insights (FMI).
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Who is Winning?
Upgrading product portfolio by launching advanced implants and instruments is a key strategy of leading companies in the market. Moving forward, inorganic strategies such as acquisition, collaboration, and others provide key market players with opportunities for business growth.
For instance,
- In February 2022, DePuy Synthes, an orthopedic and neurosurgery division of Johnson & Johnson Services Inc., acquired CrossRoads Extremity Systems, a company that provides a comprehensive portfolio of orthopedic products
- In May 2020, Fidelio Capital completed its third acquisition in the veterinary orthopedic business with an agreement to acquire a majority ownership stake in Veterinary Orthopedic Implants (VOI).
Key Players in Veterinary Orthopedic Market:
- DePuy Synthes (Johnson & Johnson Services, Inc.)
- Integra LifeSciences
- Arthrex Vet Systems (Arthrex Inc.)
- B. Braun Melsungen AG (B. Braun Vet Care GmbH)
- Intrauma S.p.a.
- Sklar Surgical Instruments
- Securos
- Kyon AG
- GerVetUSA
- BioMedtrix, LLC
- Surgical Holdings Veterinary
- Ortho Max Manufacturing Company Pvt. Ltd.
- Rita Leibinger GmbH & Co. KG
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Global Market Segmentation:
By Product Type:
- Implants
- Total Knee Replacement (TKR)
- Cemented Total Knee Replacement
- Cementless Total Knee Replacement
- Total Hip Replacement (THR)
- Cemented Total Hip Replacement
- Cementless Total Hip Replacement
- Trauma Fixations
- External Fixations
- Internal Fixations
- Tibial Tuberosity Advancement (TTA) Implants
- Tibial Plateau Leveling Osteotomy (TPLO) Implants
- Advanced Locking Plate System (ALPS)
- Total Elbow Replacement (TER)
- Total Knee Replacement (TKR)
- Instruments
- Scissors & Knife
- Forceps
- Mallets & Saws
- Retractors
- Others
By Application:
- Tibial Plateau Leveling Osteotomy
- Tibial Tuberosity Advancement
- Trauma Fixation Application
- Joint Replacement
- Others
By End-user:
- Veterinary Hospitals
- Veterinary Clinics
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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