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Veterinary Orthopedic Implants Global Market Report 2022
Major players in the veterinary orthopedic implants market are KYON Pharma Inc. , Veterinary Orthopedic Implants Inc. , BioMedtrix LLC, IMEX Veterinary Inc. , Orthomed Ltd, Securos Surgical, B. Braun Vet Care, Bluesao, DePuy Synthes Vet, and MWI Veterinary Supply Co.
New York, May 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Orthopedic Implants Global Market Report 2022" - https://www.reportlinker.com/p06280833/?utm_source=GNW
The global veterinary orthopedic implants market is expected to grow from $0.21 billion in 2021 to $0.22 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to grow to $0.30 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%.
The veterinary orthopedic implants market consists of sales of veterinary orthopedic implants and related services.Veterinary orthopedic implants are used by veterinary surgeons for bone fixation surgeries, treating bone fractures in animals, and are usually made of metals like pure commercial titanium (Ti) or titanium alloys, stainless steel, cobalt-chromium (Co-Cr) alloys.
The orthopedic implants are also used as a support structure for healing fractures and reconstructive surgeries. Orthopedic implants include screws, plates, pins, and wires which are used in surgeries performed on animals.
The main product types in veterinary orthopedic implants are advanced locking plate system, tibial plateau leveling osteotomy implants, tibial tuberosity advancement implants, total elbow replacement, total hip replacement, total knee replacement, and trauma fixations.A tibial plateau leveling osteotomy implants are used to repair cranial cruciate ligament rupture in dogs.
The veterinary orthopedic implants are used for animals such as dog cats and others that are used by end-users such as veterinary hospitals, veterinary clinics, and veterinary surgical centers.
The increase in the incidence of obesity and arthritis increases the demand for veterinary orthopedic implants market.Obesity is a condition where the weight of the pet affects the pet’s health to a point where it results in the weakening of bones, whereas arthritis in pets results in loss of strength in bones.
Obesity and arthritis may also result in fractures and other bone-joint-related issues and both conditions result in adversely affecting the overall health of the pet, consequently leading to shortening lifespan.Thus, the increased incidents of obesity and arthritis increase the demand for veterinary orthopedic implants.
According to Banfield Pet Hospital’s report on 2.5 million dogs and 500,000 cats treated in the USA, the number of osteoarthritis (OA) cases increased 66% in dogs and 150% in cats. The report also inferred that 52% of dogs and 41% of cats with OA are also overweight or obese. Thus, the increase in health conditions affecting the bones of pets such as obesity and arthritis positively affect the growth of the veterinary orthopedic market.
The high cost of orthopedic surgery inhibits the growth of the veterinary orthopaedic implants market.The surgery cost includes the equipment, X-ray, and consumables among others, which many of the households cannot afford.
For instance, in the USA, a typical examination of the problem costs around $400 and the cost of orthopaedic surgery ranges from $1,500 to $4,000. Thus, the high cost of orthopaedic surgery restricts the growth of the veterinary orthopaedic market.
The companies in the veterinary orthopaedic implants market are investing in 3D printing techniques for creating veterinary orthopaedic implants. 3D printing in the veterinary orthopaedics market is being used for creating printed bone models, surgical guides, and titanium implants. The use of 3D printing reduces the surgical time, cost and removes the engineering complexities in orthopaedic procedures. Following the trend, many dogs with bone deformities have been treated by Langford Veterinary Services, a UK-based provider of veterinary services, through its collaboration with CBM. The collaboration enabled CBM to create 3D printed models of animal implants using titanium Ti6AI4V EL material. The MRI or CT scans are sent from Langford Veterinary Services in Bristol to CBM then produces 3D printed models using Arcam EBM Q10plus machine. CBM is a U.K based company focused on advanced research, product development, and batch manufacturing facility. Thus, the use of 3D printing is one of the latest trends in the veterinary orthopaedic implants market and will contribute to the growth of the market.
In 2019, Infiniti Medical, a USA-based designer and distributor of medical devices for the veterinary market, acquired Orthomed Ltd. for an amount undisclosed. Through the acquisition, Infiniti Medical aims to expand its product portfolio by adding products and services from Orthomed. Orthomed Ltd is a UK-based provider of orthopedic products and systems in the veterinary industry.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the veterinary orthopedic implants are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280833/?utm_source=GNW
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