Veterinary Orthopedics Market Is Likely To Up Demand At A USD 945.94 Million By 2030


 San Francisco, 30 Jan 2024: The Report Veterinary Orthopedics Market Size, Share & Trends Analysis Report By Application (TPLO, TTA), By Animal Type (Canine, Feline), By Product (Implants, Instruments), By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global veterinary orthopedics market size is anticipated to reach USD 945.94 million by 2030 and it is projected to grow at a CAGR of 7.46% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the increasing animal population, the prevalence of pet obesity, incidence of orthopedic disorders in pets, adoption of pet insurance, and the number of orthopedic surgeries on pets. Moreover, increasing technological advancements in veterinary devices and implants are expected to contribute to market growth. According to FEDIAF and internal GVR estimates there were about 12.6 million pet dogs and 12.9 million pet cats in the UK in 2023. This number is notably greater than the 9 million pet dogs and 7.5 million pet cats estimated in 2018.

The COVID-19 pandemic significantly impacted the market as the number of elective surgeries went down due to lockdown and quarantine measures. Access to veterinary care and services was also restricted, further dampening the demand for vet orthopedic products. 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, by 2021, the market resumed its growth as the underlying drivers remained unchanged and is expected to grow significantly over the forecast period.

According to Association for Pet Obesity Prevention, 60% of cats and 56% of dogs were estimated to be overweight/obese in the U.S., in 2018. This percentage increased to 61% of cats and 59% of dogs estimated to be overweight or obese in 2022. Obesity increases pressure on joints and bones that may lead to surgical interventions. 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 the demand for veterinary orthopedic devices and surgeries.

Access Research Report of Veterinary Orthopedics Market @ https://www.grandviewresearch.com/industry-analysis/veterinary-orthopedics-market

Veterinary Orthopedics Market Report Highlights

  • By application, the TPLO segment dominated the market with a revenue share of 29% in 2023. The other applications segment comprising corrective osteotomies, tightrope, and tibial tuberosity transposition is anticipated to grow at the fastest CAGR of 9.14% during the forecast period.
  • By animal type, canine segment held the highest market share in 2023. Feline segment is expected to register the fastest CAGR from 2024 to 2030.
  • In terms of products, the implants segment accounted for the highest market share in 2023 and is also projected to grow the fastest CAGR in the forecast period.
  • By End-use, veterinary hospitals & clinics segment held the highest share of the market in 2023. Others segment comprising veterinary research centers and academic institutes is estimated to grow at the fastest CAGR in the forecast period.
  • By region, North America accounted for the largest share of about 53% of the market in 2023. Asia Pacific region is anticipated to grow the fastest CAGR at a rate of about 9.54% in the forecast period.
  • The cost of orthopedic procedures and implants influence market dynamics, with affordability being a key consideration for pet owners.

Veterinary Orthopedics Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 614.30 million

Revenue forecast in 2030

USD 945.94 million

Growth rate

CAGR of 7.46% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Veterinary Orthopedics Market

  • Braun Melsungen AG
  • Vimian Group AB
  • Integra LifeSciences
  • DePuy Synthes (Johnson & Johnson)
  • AmerisourceBergen Corporation
  • Arthrex, Inc.
  • Orthomed (UK) Ltd
  • Veterinary Instrumentation
  • Fusion Implants
  • Narang Medical Limited

Access Press Release of Veterinary Orthopedics Market @ https://www.grandviewresearch.com/press-release/global-veterinary-orthopedics-market

 

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