Leeds, UK -- (SBWire) -- 07/17/2019 --Global orthopedic veterinary implants market to value over USD 4,000 Million by 2029 end and register a CAGR of over 9% from 2019 to 2029.
The prevalent disorder of Arthritis is common among pets owing to improper lifestyle and the deteriorating diet is major causes for the disorder thus raising demand for orthopedic veterinary implants. These lifestyle habits thus make the pets obese and they are more prone to bone fractures and arthritis. In developed countries, the increase in adoption of pets and integration of raising a pet in families had led to a global increase in demand for this market. According to the National Pet Owners Survey conducted by the American Pet Products Association (APPA), over 85 million; 60- 80% of the U.S. families, own a pet. This thus increases the need for medical services and treatments for the pet, therefore increasing the demand for the global veterinary implants market.
Along with this, the increase in veterinary healthcare awareness thus putting the focus towards intensive surgeries like orthopedic implants have had a positive impact. Increase in disposable income for treatments and options in procedures also has aided the growth of the global market.
The pending FDA approvals for various implants have always predicted the market to have a high CAGR in the near future. With advancements in technology, manufacturing of less expensive, economical implants and high availability is increasing trade in the market. The emergence of a range of nominal rate orthopedic veterinary implants is expected to boost the overall sale of these products in developing economies.
Recent developments in the global market are, in 2019, Orthomed (UK) Ltd, the home of veterinary orthopedics, launched a medium-size Modified
Maquet Procedure (MMP) OrthoFoam wedge. The medium-sized MMP wedge is 30 mm long and gives an advancement of 7.5 mm, which is appropriate for typical Springers, Staffies, and similar sized dogs.
In 2018, Veterinary Orthopedic Implants, Inc. launched its new the Elite tibia-plateauleveling osteotomy (TPLO) plate. These advancements are projected to create new avenues and the market is poised to grow at a high rate during the forecast period.
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Orthopedic Veterinary Implants Market: Segmentation
By Product Type
- Total Knee Replacement (TKR)
- Cemented Total Knee Replacement
- Cementless Total Knee Replacement
- Total Hip Replacement (THR)
- Cemented Total Hip Replacement
- Cementless Total Hip Replacement
- Trauma Fixations
- External Fixations
- Internal Fixations
1. Intramedullary (IM) Nails
2. Bone Plates
3. Bone Screws
- Tibial Tuberosity Advancement (TTA) Implants
- Tibial Plateau Leveling Osteotomy (TPLO) Implants
- Advanced Locking Plate System (ALPS)
- Total Elbow Replacement (TER)
The TPLO accounts for a leading share in the global orthopedic veterinary implants market and is expected to retain its leading share. The segment of TER is predicted to clock maximum CAGR during the forecast period. The trauma fixation segment is predicted to stoke sales in the market primarily. The bone screws hold a substantial share in the market as well.
By End-User
- Veterinary Hospitals
- Veterinary Clinics
By Region:
- Europe
- North America
- APAC
- Latin America
- Rest of World
North America at present accounts for a leading position in the global orthopedic veterinary implants market owing to the high disposable incomes of people particularly in the U.S. and Canada. Organization of sports and adventure programs for pets in the region, leading to frequent bone and other injuries, is one of the factors majorly fuelling the orthopedic veterinary implants market in North America. In the forecast period, the Asia Pacific orthopedic veterinary implants are predicted to rise at the fastest CAGR.
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Competitive Landscape:
- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
Prominent firms in the global orthopedic veterinary implants market are KYON Pharma, Inc., Vet Implants, Everost Inc., Integra LifeSciences, and BioMedtrix, LLC.
FutureWise Takeaways
- Growth prospects
- SWOT analysis
- Key trends
- Key data points affecting market growth
Objectives of the Study:
- To provide an exhaustive analysis on the global orthopedic veterinary implants market by product type, by end-user and by region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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