Global Veterinary Orthopedics Industry Set to Surge with a 9.4% CAGR by 2022 to 2032 Projections, Covering a Range of Species from Equines to Canines | FMI

Veterinary Orthopedics Industry

The global veterinary orthopedics industry size has witnessed substantial growth and is on track to reach a significant milestone, with projections pointing towards a valuation of US$ 1.5 billion by the year 2032. According to the latest comprehensive market analysis, the market, valued at US$ 618.2 million in 2022, is anticipated to showcase a remarkable compound annual growth rate (CAGR) of approximately 9.4% during the forecast period of 2022 to 2032.

The rise in the value of Veterinary Orthopedics is indicative of the escalating demand for advanced veterinary healthcare solutions worldwide. Factors attributing to this growth trajectory include the increasing focus on animal welfare, technological advancements in veterinary orthopedic procedures, and the growing prevalence of orthopedic conditions among animals.

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“With the increasing adoption of pets and heightened awareness regarding animal healthcare, the Veterinary Orthopedics market is experiencing significant expansion,” stated a spokesperson from Future Market Insights. “This growth reflects not only the evolving veterinary landscape but also a commitment to ensuring better quality of life for animals.”

Key drivers influencing this market surge include innovations in orthopedic surgical techniques, the emergence of regenerative medicine in veterinary care, and a surge in pet insurance coverage that promotes access to specialized treatments. Additionally, advancements in veterinary diagnostic tools and increasing investments in research and development further contribute to this optimistic market projection.

The Veterinary Orthopedics market remains dynamic, driven by technological breakthroughs, strategic collaborations, and an increasing emphasis on delivering effective and compassionate care to our animal companions.

Key Takeaways: Veterinary Orthopedics Market

The Veterinary Orthopedics Market, encompassing medical interventions and devices aimed at diagnosing and treating musculoskeletal conditions in animals, has exhibited significant growth and evolving trends. Here are the key takeaways from the market:

• Market Growth and Demand:
  • The Veterinary Orthopedics Market has experienced substantial growth due to the rising pet ownership and increased awareness about pet healthcare.
  • Growing concern for the well-being of companion animals has led to higher demand for advanced orthopedic treatments.
• Technological Advancements:
  • Technological innovations have revolutionized the field, introducing minimally invasive procedures, advanced imaging techniques, and 3D printing for customized implants.
  • Techniques like arthroscopy and joint replacements are becoming more commonplace, enhancing both diagnostic accuracy and treatment effectiveness.
• Companion Animals Drive Market:
  • The market’s expansion is predominantly driven by companion animals, including dogs, cats, and horses, as owners increasingly seek specialized orthopedic care to improve their pets’ quality of life.

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• Regenerative Medicine:
  • Regenerative therapies, such as stem cell treatments and platelet-rich plasma (PRP) therapy, are gaining traction in veterinary orthopedics for their potential to accelerate healing and tissue repair.
• Collaboration and Partnerships:
  • Collaborations between veterinary orthopedic specialists and medical device companies are fostering the development of innovative solutions tailored to animal healthcare needs.
• Customized Implants:
  • The utilization of 3D printing technology allows the creation of patient-specific implants, optimizing surgical outcomes and reducing recovery times.
• Challenges and Opportunities:
  • The high cost of veterinary orthopedic procedures remains a challenge for many pet owners, but the growing pet insurance industry is gradually easing the financial burden.
  • Market players are exploring opportunities in emerging economies, where the middle-class expansion is driving demand for advanced veterinary services.

Key Companies Profiled:

• B. Braun Melsungen AG
• Veterinary Orthopedic Implants
• Kyon AG
• STERIS
• Integra LifeSciences Corporation
• Ortho Max Manufacturing Company Pvt. Ltd.
• BioMedtrix, LLC
• Surgical Holdings Veterinary
• GerVetUSA

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Market Segments Covered In Veterinary Orthopedics Industry Analysis

By Product Type:

• Instrument
• Implants

By Application:

• Total Knee Replacement
• Total Hip Replacement
• Total Elbow Replacement
• Trauma Fixation
• TPLO
• TTA
• Lateral Fixation
• Other Applications

By End-Use:

• Hospitals & Clinics
• Other End-uses

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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