According to Future Market Insights’ latest analysis, the global veterinary orthopedic market is set to experience remarkable growth, with an anticipated increase in market value from USD 637.81 million in 2024 to USD 956.92 million by 2034. This expansion is driven by several key factors, including a surge in pet adoption, growing expenditure on pet healthcare, the rising prevalence of orthopedic conditions in animals, and continuous innovation by industry leaders.
Key Drivers of Market Growth
- Surge in Pet Ownership:
Pet adoption rates have reached new heights, particularly in regions like the United States, Germany, China, and the United Kingdom. According to HealthforAnimals, nearly 70% of U.S. households owned a pet as of 2021. This increase in pet ownership is expected to drive demand for advanced veterinary orthopedic solutions, as pet owners seek high-quality care options for their beloved companions.
- Pet Humanization and Increased Care Spending:
As pets are increasingly considered family members, pet owners are more willing to invest in specialized healthcare to improve their pets’ quality of life. This trend is fueling demand for orthopedic treatments, especially for mobility-related issues in animals, which are often seen in aging pets or those suffering from traumatic injuries.
- Growth of Veterinary Hospitals:
The rise in pet ownership is directly linked to an increased demand for veterinary hospitals that provide advanced care options. This growing network of veterinary clinics and hospitals is fueling the need for orthopedic implants and instruments to address both routine and complex health conditions, further contributing to the market’s expansion.
- Innovation and Product Development:
Leading players in the veterinary orthopedic market are focusing on research and development to introduce cutting-edge products tailored to meet the evolving needs of pets. This investment in innovation, coupled with strategic partnerships, new product launches, and collaborations, is helping companies strengthen their market position and cater to the expanding demand for orthopedic solutions in veterinary care.
Opportunities and Challenges:
Despite strong growth prospects, the market does face challenges such as high procedural costs and stringent regulatory requirements. However, there are ample opportunities, particularly in emerging markets where demand for advanced veterinary care is on the rise. Furthermore, the integration of artificial intelligence (AI) into veterinary orthopedics is expected to streamline diagnostics and treatment planning, providing a promising pathway for future market growth.
As market leaders focus on delivering advanced orthopedic implants tailored specifically to the needs of the veterinary sector, the market is expected to continue its upward trajectory. By ensuring that products meet regulatory standards and address the unique needs of animals, the industry is well-positioned for sustainable growth throughout the forecast period.
With a growing number of pet owners prioritizing the health and mobility of their pets, the veterinary orthopedic market is poised to become a key sector in the global pet healthcare landscape.
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).
Surge in Market Demand: Explore Comprehensive Trends and Analysis in Our Full Report!
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
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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