Veterinary orthopedic implants are medical devices used to treat musculoskeletal injuries and diseases in animals. These implants such as plates, screws, pins, rods and cages are used to repair fractures, correction of deformities, and supplementation of physical structure of bones and joints during orthopedic surgeries. Growing adoption of pets such as dogs and cats in nuclear families owing to rising trend of nuclearization and loneliness in developed countries has propelled demand for advanced veterinary care. Pets undergoing intensive physical activities are more prone to orthopedic disorders such as hip dysplasia, ruptured cruciate ligaments and fractures, thereby driving adoption of orthopedic implants during surgeries.

The global Veterinary Orthopedic Implants Market is estimated to be valued at Us$ 296.05 Mn In 2023 and is expected to exhibit a CAGR Of 10% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the major driver fueling growth of the veterinary orthopedic implants market is growing pet adoption in nuclear families. Changing lifestyle trends such as dual income households and increasing trend of nuclear families has left many people longing for companionship, which is driving adoption of pets such as dogs and cats. According to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 67% of the U.S. households own a pet. Growing human-animal bond and perceived well-being gained from pet ownership has propelled ‘pet parenting’ culture worldwide. However, intensive physical activities and exercises of pet dogs and cats has concurrently increased risk of orthopedic injuries and disorders such as joint dysplasia. This is increasing reliance on veterinary orthopedic implants during surgeries. Moreover, availability of advanced implants such as locking plates providing stable fixation of fractures propels their adoption. Growing pet healthcare expenditure per animal owing to rising disposable incomes further drives market growth.

Segment Analysis

The veterinary orthopedic implants market can be segmented based on product type, animal type, surgery type, end user and region. By product type, the market is dominated by total knee replacement implants owing to the rising incidence of osteoarthritis in dogs. The implants prevent pain and restore normal mobility in affected joints. By animal type, the dog segment holds the largest share due to the increasing adoption of pets. Based on surgery type, trauma & fracture repairs dominate as trauma cases are common in dogs and cats. Hospitals and veterinary clinics form the major end users as they have skilled veterinary professionals and infrastructure for implant surgeries.

PEST Analysis

Political: Favorable government policies in several countries supporting animal welfare boost the market. Stringent regulations ensure high quality implants.

Economic: Rising pet care spending powered by growing pet ownership and humanization of pets drives market growth. Increased veterinary healthcare expenditure augurs well.

Social: Rising trend of pet adoption propels the market. Pet owners willing to spend on advanced veterinary care for joints issues.

Technological: 3D printing, bioresorbable implants and stem cell therapy attract investments and modernize veterinary orthopedic care. Advancements facilitate minimally invasive surgeries.

Key Takeaways

The Global Veterinary Orthopedic Implants Market Demand  is expected to witness high growth due to rising pet adoption, increasing expenditure on pet healthcare, and advancements in veterinary implants.

Regional analysis –

North America holds the largest share in the market due to high pet ownership and growing dog population. Increased awareness about veterinary orthopedic surgeries also boosts the regional market. Asia Pacific is set to emerge as the fastest growing regional market during the forecast period owing to rapid pet population growth, developing veterinary infrastructure and rising per capita pet care spending in countries like India and China.

Key players operating in the Veterinary Orthopedic Implants Market are IBM Corporation, Hewlett Packard Enterprise, Infosys Limited, Wipro Limited, Capgemini SE. Key players are focusing on new product launches, partnerships, acquisitions and geographic expansions to increase market share. For instance, DePuy Synthes acquired Veterinary Orthopedic Implants to expand its portfolio in the veterinary orthopedic segment. 3D printed implants attract special focus from R&D teams to achieve better customization for patients.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it