Veterinary Orthopedics Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Veterinary Orthopedics market in 2021

The global veterinary orthopedics market size in 2021 was estimated to be USD 1.2 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2021 to 2028. By 2028, the market is projected to reach USD 1.8 billion. The increasing prevalence of orthopedic conditions in animals, coupled with advancements in veterinary surgery techniques, is driving the growth of the market.

COVID-19 Impact on the Veterinary Orthopedics Market

The COVID-19 pandemic had a mixed impact on the veterinary orthopedics market. While there was a temporary slowdown in non-essential veterinary procedures during the initial phases of the pandemic, the overall demand for orthopedic treatments remained steady. Veterinarians adapted to telemedicine and teleconsultation practices to ensure continuity of care for animals in need of orthopedic interventions. As the world slowly recovers from the pandemic, the veterinary orthopedics market is expected to witness renewed growth.

Veterinary Orthopedics Dynamics

The veterinary orthopedics market is driven by factors such as increasing pet ownership, rising awareness about animal health, and advancements in veterinary surgical techniques. Pet owners are increasingly willing to invest in orthopedic treatments for their animals to improve their quality of life. Additionally, the growing geriatric pet population is fueling the demand for orthopedic surgeries and treatments.

Segments and Related Analysis

The veterinary orthopedics market can be segmented based on product type, application, end user, and geography. Product types include orthopedic implants, instruments, and braces. Applications of veterinary orthopedics include fracture repair, joint replacement, and limb deformity correction. End users of orthopedic products and services include veterinary hospitals, veterinary clinics, and research institutions.

By Region Analysis

The veterinary orthopedics market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for veterinary orthopedics due to the high pet ownership rates and advanced veterinary healthcare infrastructure. The market in Asia Pacific is also growing rapidly, driven by increasing disposable incomes and rising awareness about pet health.

Key Market Players and Competitive Landscape

Key players in the veterinary orthopedics market include B. Braun Vet Care GmbH, BioMedtrix, LLC, Integra LifeSciences, and Veterinary Orthopedic Implants, Inc. These companies are investing in research and development to launch innovative orthopedic products and expand their market presence. The competitive landscape of the market is characterized by strategic partnerships, mergers, and acquisitions to gain a competitive edge.

Recent Happenings in the Veterinary Orthopedics Market

In recent years, the veterinary orthopedics market has witnessed several developments and advancements. For example, technological innovations such as 3D printing and robotic-assisted surgery have revolutionized orthopedic procedures for animals. Additionally, collaborative research efforts between veterinary orthopedic specialists and human orthopedic surgeons have led to the adaptation of cutting-edge technologies and treatment modalities in veterinary medicine.