Veterinary Orthopedic Implants Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Animal Injuries

The global Veterinary Orthopedic Implants Market is estimated to be valued at Us$ 296.5 Million in 2023 and is expected to exhibit a CAGR Of 5.9% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The veterinary orthopedic implants market consists of products such as plates, screws, pins, and wires, which are used to treat orthopedic injuries in animals. These implants provide stability and support to the injured bones and help in the healing process. Veterinary orthopedic implants play a crucial role in the treatment of fractures, osteoarthritis, and other musculoskeletal conditions in animals. They offer advantages such as improved mobility and functionality, reduced pain, and enhanced quality of life for the animals. The increasing prevalence of animal injuries, especially among pets and working animals, is driving the demand for veterinary orthopedic implants.

Market key trends:

One key trend in the veterinary orthopedic implants market is the growing adoption of minimally invasive orthopedic surgeries in animals. Minimally invasive techniques involve smaller incisions, less tissue damage, and faster recovery times compared to traditional open surgeries. These techniques are gaining popularity as they offer several benefits such as reduced pain, reduced risk of infection, and shorter hospital stays for the animals. Moreover, advancements in technology have led to the development of specialized instruments and implants for minimally invasive procedures in veterinary orthopedics. The use of minimally invasive techniques is expected to continue to increase in the coming years, driving the demand for orthopedic implants in the veterinary market.

PEST Analysis:

Political: The regulatory landscape in the veterinary orthopedic implants market is influenced by government bodies and regulatory agencies that ensure the safety and efficacy of these products. Changes in government regulations and policies can have a significant impact on market growth and market entry barriers.

Economic: The global veterinary orthopedic implants market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period. This growth can be attributed to factors such as increasing pet ownership and rising awareness about animal health. Additionally, economic factors such as increasing disposable income and growing investments in the veterinary sector are also expected to drive market growth.

Social: The growing trend of pet humanization and the increasing willingness of pet owners to spend on veterinary care are driving the demand for orthopedic implants in the veterinary market. Moreover, advancements in veterinary medicine and increasing pet longevity are also contributing to the demand for orthopedic implants.

Technological: Technological advancements in orthopedic implants, such as the development of minimally invasive surgical techniques and the use of biocompatible materials, are driving market growth. These advancements have led to improved outcomes and reduced recovery time, thus increasing the adoption of orthopedic implants in veterinary practices.

Key Takeaways:

The global veterinary orthopedic implants market is expected to witness significant growth, exhibiting a CAGR of 5.9% over the forecast period of 2023-2030. Factors such as increasing pet ownership, rising awareness about animal health, and technological advancements in orthopedic implants are driving market growth.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the veterinary orthopedic implants market. This can be attributed to factors such as the high prevalence of pet ownership, advanced veterinary healthcare infrastructure, and a high level of pet humanization in the region.

Key players operating in the veterinary orthopedic implants market include B. Braun Vet Care GmbH, BioMedtrix, LLC, IMEX Veterinary, Inc., Innoplant Medizintechnik GmbH, KYON AG, Orthomed (UK) Ltd., BLUESAO Co. Ltd., New Generation Devices (NGD), Johnson & Johnson, MWI Animal Health, AmerisourceBergen Corporation, Platon Japan Co., Ltd., Veterinary Orthopedic Implants, NORER Orthopedic & Dental, OC Oerlikon Management AG, Jindal Medi Surge, Inc., and Mercury Orthopedics and Design, Inc.

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