Number of pages: 100 | Report Format: PDF | Published date: March 20, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global veterinary orthopedic implants market was valued at US$ 583.68 million in 2022 and is expected to register a revenue CAGR of 8.2% to reach US$ 1,186.27 million by 2031.
Veterinary Orthopedic Implants Market Fundamentals
Veterinary orthopedic implants are specialized medical devices designed to aid in treating musculoskeletal injuries and conditions in animals. These implants are made of high-quality materials, such as titanium, stainless steel, and cobalt-chrome alloys, which are biocompatible and can withstand the forces and stresses of animal movements. They are essential for restoring normal mobility and function in animals that have suffered fractures, joint dislocations, ligament ruptures, or other orthopedic injuries. The importance of veterinary orthopedic implants lies in their ability to provide stable fixation and support to damaged bones, joints, and soft tissues during the healing process. Implants can reduce pain and inflammation, promote faster recovery, and prevent scar tissue formation that can impede the range of motion and cause chronic pain.
Implants can also help prevent complications such as non-unions, malunions, and implant failures that can lead to additional surgeries. Various veterinary orthopedic implants available include screws, plates, pins, wires, and external fixators. Each type of implant has unique features and indications for use, depending on the nature and severity of the injury. For instance, screws and pins are commonly used for stabilizing fractures, while plates and external fixators are more suitable for complex fractures or joint dislocations. The choice of the implant also depends on the animal’s age, size, overall health, and the surgeon’s experience and preferences. The usage of veterinary orthopedic implants requires specialized training and expertise. The surgical technique, implant selection, and placement must be precise to ensure optimal outcomes and minimize the risk of complications. Veterinarians specializing in orthopedics and having experience with implant surgeries are the most qualified to perform these procedures. They use advanced imaging techniques, such as X-rays, CT scans, and MRI, to assess the extent of the injury and plan the surgical approach.
Veterinary Orthopedic Implants Market Dynamics
The growing number of pet owners globally drives demand for veterinary orthopedic implants, as owners become more willing to invest in their pet’s health and well-being. Obesity and arthritis are becoming more common, increasing the demand for veterinary orthopedic implants. Obesity is a problem in which the pet’s weight impacts their health to the point of bone weakening, whereas arthritis in dogs leads to bone weakness. Obesity and arthritis are some of the causes of fractures and other bone-joint disorders, and both illnesses have a negative impact on the pet’s general health, resulting in a shorter lifetime. As a result, the growing prevalence of obesity and arthritis raises the demand for veterinary orthopedic implants.
Technological advancements in veterinary medicine, including developing new materials and surgical techniques, have improved the success rates of animal orthopedic surgeries. As pets age, they are more prone to developing orthopedic conditions, such as osteoarthritis (OA) and hip dysplasia, which require surgical intervention and orthopedic implants. Pet owners are increasingly seeking minimally invasive surgical options for their pets, which has led to the development of new orthopedic implants and surgical techniques. The rise of animal sports and activities, such as agility training and dock diving, has also led to increased orthopedic injuries in animals, driving demand for veterinary orthopedic implants. As veterinary medicine becomes more specialized, there is a growing demand for veterinarians with expertise in orthopedic surgery, leading to increased demand for orthopedic implants.
The cost of veterinary orthopedic implants can be a major barrier to their widespread adoption, especially in countries with lower levels of economic development. In many regions, there is a shortage of veterinarians with specialized training in orthopedic surgery, which can limit access to veterinary orthopedic implants and procedures. As with any surgical procedure, veterinary orthopedic implants can carry certain risks, such as implant failure, infection, or rejection. The regulatory landscape for veterinary medical devices can be complex and vary by region, limiting the availability of certain types of implants. Some pet owners can also be unaware of the availability and benefits of orthopedic implants, leading to the underutilization of these devices. Alternative treatments, such as physical therapy or pain management medications, can sometimes be used instead of orthopedic implants, particularly in cases where surgery is not an option or cost is a concern.
Veterinary Orthopedic Implants Market Ecosystem
The global veterinary orthopedic implants have been analyzed from four perspectives: product type, application, end user, and region.
Veterinary Orthopedic Implants Market by Product Type
Based on product type, the global veterinary orthopedic implants market can be further segmented into tibial plateau leveling osteotomy (TPLO) implants, tibial tuberosity advancement (TTA) implants, advanced locking plate system (ALPS), total elbow replacement (TER) implants, total knee replacement implants, and others.
TPLO is a surgical procedure used to treat cranial cruciate ligament (CCL) injuries in animals, a common orthopedic condition. TPLO implants stabilize the tibial plateau and restore normal joint function after CCL injury, which is one of the dogs’ most common orthopedic conditions. TPLO is a widely accepted surgical technique for treating this condition. As a result, there is a high demand for TPLO implants in the veterinary market. TPLO surgery has been shown to have high success rates in treating CCL injuries in dogs, with a low rate of complications and a high rate of return to normal function. This success has led to the widespread adoption of TPLO surgery and implants in the veterinary community. TPLO implants have undergone significant technological advancements in recent years, improving implant design and surgical techniques. This has made TPLO surgery easier and more effective, increasing demand for TPLO implants. A few large players dominate the global veterinary orthopedic implants market, and many of these companies offer TPLO implants as part of their product portfolio. This has led to the widespread availability of TPLO implants and increased market revenue share for this type of implant.
Veterinary Orthopedic Implants Market by Application
Based on the application, the global veterinary orthopedic implants market can be further segmented into bone fractures, osteoarthritis, elbow dysplasia, hip dysplasia, patellar luxation, and others.
The osteoarthritis segment leads the global market. OA is a degenerative joint disease (DJD) that affects many animals, including dogs, cats, and horses. This condition is caused by common wear and tear over time, resulting in pain, inflammation, and decreased mobility. OA is a prevalent condition among animals, and as a result, it dominates the global veterinary orthopedic implants market. This is due to orthopedic implants, such as joint replacement prostheses, often used to treat OA in animals. In recent years, there has been an increase in the number of pets and companion animals around the world, leading to a rise in the number of cases of osteoarthritis. This has driven the demand for veterinary orthopedic implants, further contributing to the dominance of OA in the market. Additionally, advances in veterinary medicine have made diagnosing OA earlier and more accurately possible, allowing for earlier treatment and a better quality of life for affected animals. This, in turn, has increased the demand for orthopedic implants as a treatment option.
The hip dysplasia segment is estimated to register notable revenue growth during the forecast period. Hip dysplasia is a hip malformation that arises throughout development. The hip joint is made up of a ball and socket joint. Laxity (looseness) of the joint occurs as a result, followed by DJD or OA, the body’s effort to fix the loose hip joint.
Veterinary Orthopedic Implants Market by End User
Based on the end user, the global veterinary orthopedic implants market can be further segmented into veterinary hospitals, veterinary clinics, and others.
This is due to the increased incidence of zoonotic illnesses and the number of pet hospitals. Furthermore, a high preference rate combined with improved infrastructure contributes to the expansion of this industry. Because of the increasing number of cases of animal illnesses, diagnostic centers have the second biggest market revenue share. Furthermore, enhanced diagnostics services and facilities with faster test results add to the expansion of pet diagnostic centers and boost the entire market.
Veterinary Orthopedic Implants Market by Region
Based on the region, the global veterinary orthopedic implants market can be further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global market. North America registered the largest revenue share in the market in 2022. Technological developments, an increase in zoonotic illnesses, and a rise in the number of pet owners in the regional countries contributed to the market revenue growth in this region.
Asia Pacific is expected to grow at the highest revenue CAGR during the forecast period. The growth in this region is attributed to the presence of medical device companies and the increase in the purchasing power of populated countries such as China and India. Furthermore, a surge in demand for protein-rich animal food and an upsurge in veterinary clinics coupled with orthopedic implants significantly contribute toward the market revenue growth in Asia Pacific. The region offers profitable opportunities for key players operating in the veterinary orthopedic implants market owing to the developments in the infrastructure of industries, the rise in disposable incomes, and the well-established presence of domestic companies in the region. In addition, the increase in contract manufacturing organizations within the region provides great opportunities for new entrants.
Veterinary Orthopedic Implants Market Competitive Landscape
The prominent players operating in the global veterinary orthopedic implants market are:
Veterinary Orthopedic Implants Market Strategic Developments
The global veterinary orthopedic implants market was valued at US$ 583.63 million in 2022.
The osteoarthritis segment dominates the global veterinary orthopedic implants market with the largest revenue share.
The global veterinary orthopedic implants market is expected to reach US$ 1,186.27 million by 2031.
The high cost of pet care, a scarcity of veterinary practitioners, and a shortage of animal diagnostics facilities are some of the hurdles in the market.
The prominent players in the global veterinary orthopedic implants market are DePuy Synthes Inc., BioMedtrix LLC, Everost Inc., and Integra LifeSciences Holdings Corp.
*Insights on financial performance are subject to the availability of information in the public domain