The Global Veterinary Orthopedic Implants Market size is expected to reach $136.8 Million by 2028, rising at a market growth of 4.5% CAGR during the forecast period
The purpose of an orthopedic implant is to restore the function of a damaged bone structure. It is also used to treat bone fractures and several orthopedic conditions, including shattered bones and joints.
New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Veterinary Orthopedic Implants Market Size, Share & Industry Trends Analysis Report By End User, By Product Type, By Application, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06422770/?utm_source=GNW
In animals, orthopedic implants are utilized for bone fractures and treat arthritis, and other orthopedic conditions. Included are plastic-coated blocks, screws, tubes, and pins comprised of surgical stainless steel.
As the number of individuals who own pets continues to rise, the need for veterinary services is soaring. People are prepared to spend money on their dogs’ health and welfare, which is increasing the need for animal health and welfare products. An orthopedic implant is a device that is used to replace a joint, bone, or cartilage that has been destroyed or distorted due to an injury or deformity, such as a broken leg, amputation, or congenital handicap.
In orthopedic implants, stainless steel, cobalt-based alloys, and titanium are utilized as metals. Sometimes, stainless steel is utilized to restore structures that have degraded over time or been damaged. One example is replacing bone tissue that has degraded due to osteoporosis. Veterinary orthopedic equipment is specialist surgical tools used to treat animals by veterinarians.
These tools are costly to acquire and maintain. They are utilized during traumas and repairs of the cruciate ligament and frequently demand high precision. This device has several advantages. They can boost the surgical capabilities of veterinarians. Utilizing sophisticated orthopedic tools will aid veterinarians in providing superior patient care. In addition to enhancing existing surgical powers, these tools can help them acquire new clientele. In addition, veterinary orthopedic surgeons will be able to offer more services, which will increase their businesses.
COVID-19 Impact Analysis
The limited availability of medical care, shortage of animal care working professionals, rise in the burden of COVID-19 patients in hospitals, and costly orthopedic implant procedures have also restricting the development of the market. During the pandemic, the cases of treatment of animals with orthopedic disease have decreased, but the insufficient supply of personal protective equipment for veterinaries, limited capacity of hospitals, and shortage of point-of-care testing devices have also negatively impacted the treatment of animals. As a result of all this, the market has been negatively impacted due to COVID-19 pandemic.
Market Growth Factors
Rising occurrence of orthopedic problems in pets
Adequate nutrition is essential for the growth of the bones, but poor nutrition and high calcium level can have a negative effect on the animal. Disorders such as cruciate ligament tears, osteochondritis, and hip dysplasia need surgery to treat, but surgery is not effective in all conditions, and other procedures are employed to ease the pain and increase the range of the movement of animals. Therefore, the rising orthopedic issues in animals are expected to flourish the growth of the veterinary orthopedic implants market.
Developing veterinary healthcare infrastructure
Pastoral communities did not have access to veterinary services because livestock health was considered a private good. However, the supply of veterinary medications and vaccines has increased due to privatization for farming areas in the periphery of cities that can afford the extra expense of private treatment. There are instances where private sector participation has helped in disease control. The veterinary orthopaedic implants market is expected to grow at a rapid rate due to rising demand and the increasing availability of veterinary facilities.
Market Restraining factors
High expenses of orthopedic implants surgery
Orthopedic implant surgery is a highly effective surgery for the treatment of broken bones or joints and helps the patient to recover. Orthopedic implant surgery requires sufficient time for recovery and rehabilitation, which makes this procedure highly expensive. The overall cost relies on the type of procedure the veterinarian is providing and the condition of the dog suffering from. If the owner of the pet is financially not good and is not ready for the time taken for the recovery process, then they are not willing to go for the orthopedic implant procedure. As a result, the high cost of such surgeries may restrict the market growth during the projection period.
Product Type Outlook
On the basis of product type, the veterinary orthopedic implants market is segmented into plates, screws, and others. In 2021, the plates segment registered the maximum revenue share in the veterinary orthopedic implants market. The easy availability, affordability, and rise in the research & development activity in the medical devices industry are surging the growth of this segment. Furthermore, the advancements in the technology to produce high-quality and biologically suitable plates are escalating the growth in the plates segment.
By application, the veterinary orthopedic implants market is fragmented into cruciate ligament rupture, bone fractures, elbow dysplasia, hip dysplasia and others. In 2021, the bone fractures segment covered a substantial revenue share in the veterinary orthopedic implants market. Bone is a unique tissue that can recover itself after damage. But, there are a few incidents of fractures that require clinical treatments for the proper alignment and healing of damage to the bone. There is a requirement for careful consideration of the material used to create the implants to treat bone fractures.
End User Outlook
Based on end user, the veterinary orthopedic implants market is classified into hospital, clinics, and others. In 2021, the clinics segment recorded a remarkable revenue share in the veterinary orthopedic implant market. Because of the requirement for quick treatments of pets, people are actively looking for clinics to avoid the long queues in hospitals. Also, people are choosing clinics over hospitals for the regular check-up and vaccination of their pets. Thus, this demand from high-profile pet owners is anticipated to propel the growth of the veterinary orthopedic implants market.
Region wise, the veterinary orthopedic implants market is analyzed across North America, Europe, Asia Pacific, and LAMEA region. In 2021, the North America region held the highest revenue share in the veterinary orthopedic implants market. The presence of major business players and the enhancements in manufacturing technology of veterinary implants in the region is surging the growth of the market in this region. Furthermore, the rise in concern about maintaining a healthy lifestyle for animals among people, the increasing pet population, and the demand for orthopedic implants are factors supporting the market growth significantly.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Vimian Group AB, Integra LifeSciences Holdings Corporation, B. Braun Melsungen AG, Johnson & Johnson, OrthoMed, Inc., Arthrex, Inc., Auxein Medical Pvt. Ltd., Ortho Max Mfg. Co. Pvt. Ltd., BLUESAO Co., Ltd., and Narang Medical Limited.
Scope of the Study
Market Segments covered in the Report:
By End User
By Product Type
• Cruciate Ligament Rupture
• Bone Fractures
• Hip Dysplasia
• Elbow Dysplasia
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Vimian Group AB
• Integra LifeSciences Holdings Corporation
• B. Braun Melsungen AG
• Johnson & Johnson
• OrthoMed, Inc.
• Arthrex, Inc.
• Auxein Medical Pvt. Ltd.
• Ortho Max Mfg. Co. Pvt. Ltd.
• BLUESAO Co., Ltd.
• Narang Medical Limited
• Exhaustive coverage
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• Assured post sales research support with 10% customization free
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