Press release
Veterinary Orthopedic Devices Market is on an Upward Growth Curve
According to the latest research by InsightAce Analytic, the global Veterinary Orthopedic Devices Market Size is valued at USD 477.31 Million in 2023 and is predicted to reach USD 826.2 Million by the year 2031 at a 7.4 % CAGR during the forecast period for 2024-2031.
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Veterinary orthopedic devices are widely used in the treatment of various musculoskeletal disorders in animals, including the repair of fractures and joint injuries that can impair mobility and lead to abnormal movement. One common condition linked to pet obesity is joint osteoarthritis, which significantly complicates surgical intervention. As the population of companion animals continues to grow, there is a corresponding surge in demand for veterinary care. Pet owners are increasingly willing to invest in advanced medical treatments to ensure the health and well-being of their animals, reflecting a broader shift toward prioritizing comprehensive pet healthcare.
The market for veterinary orthopedics devices is driven by a rise in medical innovations for helping animals with orthopaedic procedures, the popularity of small animals for veterinary treatment methods, and clinic interest in enhancing revenue. Both pet adoption and pet spending are anticipated to increase. It is anticipated that rising disposable income would boost the possibility of pet adoption and open up new market expansion potential. Additionally, throughout the forecast period, the market is anticipated to benefit from the ongoing modernization of sophisticated healthcare infrastructure.
To provide their patients with better and more effective care, veterinary clinics are stocked with the newest technology and highly trained medical professionals. Additionally, larger veterinary hospitals have the resources to buy the newest technologies that can shorten surgery times and make it painless for little animals. These factors collectively fuel the market for veterinary orthopedic equipment. On the other hand, the high cost of procedures and the general ignorance of animal health in developing economies may impede the market's expansion.
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North America is anticipated to be the major contributor to the Veterinary Orthopedic Devices market over the forecast years. The market for veterinary orthopedics devices is anticipated to expand over the forecast period due to the increased prevalence of pet obesity. Significant players and a well-established healthcare infrastructure are other factors influencing the North American market for veterinary orthopedics. In addition, the Asia Pacific Veterinary Orthopedic Devices market is expected to grow significantly during the forecast period due to rising veterinary treatment costs and an increase in pet owners in nations like China and India. The Asia-Pacific region is expected to have the quickest growth in the veterinary orthopedics devices market over the next few years due to factors including rising pet expenses, pet modification, and the presence of companies in the veterinary orthopedics devices market.
Major market players operating in the Veterinary Orthopedic Devices market include
Orthomed (UK) Ltd, Securos Europe GmbH, Veterinary Implants Direct, SCIL animal care company GmbH, NGD (NEW GENERATION DEVICES), Jeil Medical Corporation, Gruppo Bioimpianti, Eickemeyer Veterinary Equipment Ltd., Génia, Vygon Vet and KYON AG among others.
Recent collaborations and agreements in the market:
• In March 2020, Fidelio Capital purchased BioMedtrix, LLC and combined it with Movora Company.
• In October 2019, The purchase of Veterinary Orthopedic Implants by Fidelio Capital finally resulted in the establishment of Movora Company.
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Market Segments
Global Veterinary Orthopedic Devices Market, by Product Type, 2024-2031 (Value US$ Mn)
• Pins
• Screws
• Screwdrivers
• Trocars
• Veterinary Bone Plates
• Other
Global Veterinary Orthopedic Devices Market, by Animal Type, 2024-2031 (Value US$ Mn)
• Dog
• Cat
• Horse
• Others
Global Veterinary Orthopedic Devices Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Veterinary Orthopedic Devices Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Veterinary Orthopedic Devices Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Veterinary Orthopedic Devices Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Veterinary Orthopedic Devices Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Veterinary Orthopedic Devices Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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