Veterinary Orthopedics Market Size Is Projected to Reach $930.1 Million by 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, Growing pet adoption coupled with pet expenditure, chronic diseases, the number of veterinarians, and pet insurance is expected to accelerate the growth.

The global veterinary orthopedics market size is anticipated to reach USD 930.1 million by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 8.3% from 2021 to 2028. The growing pet population, the prevalence of pet obesity and arthritis, which may require orthopedic surgery, are expected to drive the market. Moreover, increasing technological advancements in veterinary devices is another driver expected to contribute to the market growth.

According to the American Pet Products Association (APPA), about 84.9 million American homes (67% of U.S. households) owned a pet in 2019. This number is significantly greater than 2017 statistics wherein nearly 60.2 million U.S. households had at least one pet dog.

In 2019, Americans spent USD 95.7 billion on pets, which was USD 5.2 billion more than the expenditure in 2018. The rise in the number of pet owners and, subsequently, expenditure on pets, is boosting the animal health industry, including veterinary orthopedics. Owners are concerned about their pets and, hence, the demand for efficient treatment is rising. This trend is expected to continue, thus, fueling market growth during the forecast period.

According to Association for Pet Obesity Prevention (APOP), 56% of dogs and 60% of cats were overweight or obese in the U.S., in 2018. Obesity increases pressure on joints and bones. According to APPA, nearly 20.8 million dogs in the U.S. had undergone orthopedic surgeries in 2016. The most common orthopedic surgeries carried out on canines were femoral head osteotomy, bones fracture repair, cruciate ligament repair, and medial patellar luxation.

The prevalence of osteoarthritis in animals is increasing because of obesity, which is boosting demand for veterinary orthopedic devices and surgeries. According to Kingsbrook Animal Hospital, 20% of all dogs-regardless of age-in the U.S. had osteoarthritis in 2017.

The COVID-19 pandemic significantly impacted the market, as the number of elective surgeries went down due to lockdown and quarantine measures. However, the market is anticipated to be driven by the resumption of elective surgeries. In March 2020, the Harmony Veterinary Center in compliance with government guidelines, suspended all its elective procedures, surgeries, and dentistry services during the COVID-19 outbreak. However, this does not change the underlying need for these procedures and the market is expected to grow significantly as surgeries return to pre-COVID numbers.

 

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Veterinary Orthopedics Market Report Highlights

The growing pet population and ailments, combined with rising concern for zoonoses and pet expenditure, is anticipated to fuel market growth
The implants segment accounted for the largest revenue share of the product segment in 2020. This can be attributed to an increase in the number of cases of severe musculoskeletal injuries or orthopedic disorders, such as cruciate ligament tears or hip and elbow dysplasia. This increases the need for surgery and, thus, the demand for implants
The TTA segment held the largest revenue share in the application segment in 2020. Various factors driving the demand for this surgical method include increased ability to bear weight postsurgery, less pain, faster recovery, and fewer associated complications
The veterinary hospitals and clinics segment dominated the end-use segment in 2020, as a wide range of procedures and treatment options are available in these healthcare settings
In 2020, North America held a dominant revenue share in the market. This can be attributed to the local presence of key market players undertaking extensive strategic initiatives

 

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Veterinary Orthopedics Market Segmentation

Grand View Research has segmented the global veterinary orthopedics market on the basis of product, application, end-use, and region:

Veterinary Orthopedics Product Outlook (Revenue, USD Million, 2016 – 2028)

Instrument
Implants
Plates
Compression plates
Arthrodesis plates
Acetabulum plates
Screws
Others

 

Veterinary Orthopedics Application Outlook (Revenue, USD Million, 2016 – 2028)

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

 

Veterinary Orthopedics End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals & Clinics
Others

 

Veterinary Orthopedics Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia

List of Key Players of Veterinary Orthopedics Market

B. Braun Melsungen AG
Veterinary Orthopedic Implants
Kyon AG
STERIS
Integra LifeSciences Corporation
Ortho Max Manufacturing Company Pvt. Ltd.
BioMedtrix, LLC
Surgical Holdings Veterinary
GerVetUSA

 

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Browse More Related Report:

Veterinary Services Market Size, Share & Trends Analysis Report By Animal Type (Production, Companion), By Region (North America, Latin America, APAC), And Segment Forecasts, 2021 – 2028

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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