The "Global Veterinary Orthopedics Market Size, Share & Trends Analysis Report by Product, by Application (TPLO, TTA, Total Knee Replacement, Total Hip Replacement, Total Elbow Replacement, Lateral Fixation), by End-use, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global veterinary orthopedics market size is anticipated to reach USD 930.1 million by 2028. The market is estimated to expand at a CAGR of 8.3% from 2021 to 2028.
Companies Mentioned
- 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
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.
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
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Veterinary Orthopedics Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Product Pipeline Analysis
3.3.1 Recent product developments related to veterinary orthopedics
3.4 Technology Timeline Overview
3.4.1 Technology Timeline Veterinary orthopedics changing technology & adoption
3.5 Regulatory Framework
3.5.1 Reimbursement framework
3.5.2 Standards & Compliances
3.6 Regulatory Framework
3.7 Veterinary Orthopedics Market Dynamics
3.7.1 Market driver analysis
3.7.1.1 Rising Number Of Pet Owners & Expenditure
3.7.1.2 Increasing Incidence Of Obesity
3.7.1.3 Increasing Number Of Veterinarians
3.7.1.4 Increasing Number Of Veterinary Surgeries
3.7.1.5 Technological Advancements
3.7.2 Market restraint analysis
3.7.2.1 High Pet Care Costs
3.7.2.2 High Surgery Costs
3.8 Veterinary Orthopedics Market Analysis Tools: Porters
3.9 PESTEL Analysis
3.10 Major Deals & Strategic Alliances Analysis
Chapter 4 Veterinary Orthopedics Market: Competitive Analysis
4.1 Public Companies
4.1.1 Company market position analysis
4.1.2 Company Market Share/Ranking, by region
4.1.3 Competitive Dashboard Analysis
4.1.4 Market Differentiators
4.1.4.1 Market leaders
4.1.4.2 Innovators
4.2 Detailed List of Companies
Chapter 5 Veterinary Orthopedics Market: Product Estimates & Trend Analysis
Chapter 6 Veterinary Orthopedics Market: Application Estimates & Trend Analysis
Chapter 7 Veterinary Orthopedics Market: End-use Estimates & Trend Analysis
Chapter 8 Veterinary Orthopedics Market: Regional Estimates & Trend Analysis, by, Product, Application, End-use
Chapter 9 Company Profiles
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