Global Veterinary Orthopedic Market projected to grow at a steady CAGR of 4.1%, reaching USD 956.92 million by 2034

According to Future Market Insights’ latest analysis, the global veterinary orthopedic market is poised for significant expansion, with an estimated increase in market value from USD 637.81 million in 2024 to USD 956.92 million by 2034. This growth trajectory is attributed to multiple factors, including increasing pet adoption rates, higher spending on pet healthcare, rising instances of orthopedic conditions in animals, and a continuous push for innovation by leading industry players.

Factors Driving Market Growth:

1. Surge in Pet Ownership: Pet adoption has seen a sharp increase globally, particularly in countries such as the United States, Germany, China, and the United Kingdom. A report by HealthforAnimals highlights that approximately 70% of U.S. households owned a pet in 2021. This rising pet ownership trend is projected to boost demand for veterinary orthopedic solutions as owners seek advanced care options for their pets.
2. Pet Humanization and Care Spending: As more pet owners consider pets as part of their family, there is a willingness to invest in high-quality healthcare. This trend is expected to drive significant demand for specialized orthopedic treatments, particularly as pet owners seek solutions for conditions affecting mobility and quality of life in animals.
3. Expansion of Veterinary Hospitals: With growing pet ownership, there is an increased need for veterinary hospitals to offer advanced care options. The rise in veterinary hospitals across various regions has, in turn, generated substantial demand for orthopedic implants and instruments, catering to both common and complex animal health needs.
4. Innovation and Product Development: Key market players are heavily investing in research and development to introduce novel veterinary orthopedic products. This focus on innovation is coupled with strategic growth initiatives, including new product launches and collaborations, allowing industry leaders to meet the evolving demands of pet healthcare and expand their market presence.

Opportunities and Challenges:

Despite this robust growth, the veterinary orthopedic market faces challenges such as high costs of procedures and stringent regulatory requirements. However, the sector also presents exciting opportunities, particularly in emerging markets where demand for advanced veterinary care is rising. Additionally, integration of artificial intelligence into veterinary orthopedics is expected to streamline diagnostics and treatment planning, offering a promising avenue for future growth.

To address the unique requirements of veterinary facilities, market leaders are focusing on ensuring a steady supply of advanced orthopedic implants tailored to the veterinary sector. By delivering products that meet both regulatory standards and the specific needs of animals, the industry is set to maintain a sustainable growth path through the forecast period.

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)
• 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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