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Veterinary Orthopedic Implants Market to Receive overwhelming hike in Revenues by 2024
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Growing fame of the animal sports like horse racing, greyhound racing, rodeos and illegitimate sports like dog fighting and bull fighting is expected to increase the number of cases of orthopedic injuries in animals and in turn propel demand for orthopedic implants. Initiatives like ‘One Health’ aimed towards expanding interdisciplinary collaborations in healthcare for humans and animals is expected to drive product innovation. However the high cost of surgeries may hamper demand for veterinary orthopedic implants in under developed and emerging economies.
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Geographically the global veterinary orthopedic implants market is segmented into five key regions: North America, Latin America, Europe, Asia – Pacific (APAC) and Middle East and Africa (MEA). North America is estimated to be the leading market in the global veterinary orthopedic implants market. Rising number of households owing companion animals in the U.S. and growing healthcare expenditure on the companion animals is expected to propel growth of the veterinary orthopedic implants in this region.
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Europe is estimated to be the second most lucrative market for the veterinary orthopedic implants manufacturers. Presence of several veterinary facilities and availability of new products is expected to drive market growth of veterinary orthopedic implants in Europe. Asia Pacific is expected to witness high growth in the veterinary orthopedic implants market owing to growing number of veterinary hospitals and clinics. Latin America and MEA regions are also expected to witness high revenue growth over the forecast period owing to growing public expenditure in veterinary hospitals aimed towards affordable healthcare for farm animals.
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