(PharmaNewsWire.Com, October 13, 2022 ) According to Precision Business Insights (PBI), the latest report global veterinary orthopedics market size was valued at 426.13 million in 2021 and growing at a CAGR of 7.4% during the forecast period 2022-28. The market for veterinary orthopaedics is being driven by a rise in medical innovations for helping animals with orthopaedic operations, the popularity of veterinary treatments for small animals, and clinics' desire to boost revenue. Both pet adoption and pet spending are anticipated to increase.
The Veterinary Orthopedics Market is expected to witness significant growth during the forecast period. The technological advancements in the field of orthopedics have provided new opportunities to stakeholders. The high demand for orthopedic implants, especially hip, and knee implants is expected to drive the market. In addition, the growing geriatric population and rising awareness about the benefits of using implants are also projected to play a crucial role in creating growth opportunities in this market. Additionally, the growth of this market can be attributed to the increasing prevalence of joint disorders among dogs and cats as well as the rising number of animal surgeries performed globally which are driving the demand for artificial joints and other products used for repairing damaged joints.
The Veterinary Orthopedics Market Regional Analysis
Due to factors like rising pet expenses, the humanization of pets, as well as the presence of market competitors, the Asia Pacific region is anticipated to experience the quickest growth rate in the market, at 8.3%. For example, because pets in Japan, particularly cats and dogs, live longer, they are more prone to elbow, shoulder, and knee conditions brought on by aging and trauma. This is anticipated to fuel market expansion.
The major players operating in the Veterinary Orthopedics Market are Braun Holding GmbH & Co. KG (Germany), Veterinary Orthopedic Implants, Inc. (U.S.), Johnson &Johnson (DePuySynthes) (U.S.), IMEX Veterinary, Inc. (U.S.), BioMedtrix (U.S.)
Orthopedic Implants Market: By Biomaterial Type (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, Others), By Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, Others), By Application (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, Others) and Geography
Canine Orthopedics Market: By Product Type (Instruments, Implants, Plates, Screws, and Other), Application (TPLO, TTA, Joint Replacement, Trauma, and Others), End Users (Hospitals & Clinics and Others), And Region
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