Veterinary Orthopedic Implants Global Market Report 2023
Major players in the veterinary orthopedic implants market are KYON Pharma Inc., Veterinary Orthopedic Implants Inc., BioMedtrix LLC, IMEX Veterinary Inc., Orthomed Ltd, Securos Surgical, B.Braun Vet Care, Bluesao, DePuy Synthes Vet, and MWI Veterinary Supply Co.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Orthopedic Implants Global Market Report 2023" - https://www.reportlinker.com/p06280833/?utm_source=GNWThe global veterinary orthopedic implants market is expected to grow from $0.21 billion in 2021 to $0.22 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The veterinary orthopedic implants market is expected to grow to $0.30 billion in 2026 at a CAGR of 7.7%.
The veterinary orthopedic implant market consists of sales screws, plates, pins, and wires.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Veterinary orthopedic implant is a surgical tool used to repair a broken bone structure and regain its function.Veterinary orthopedic implants are used by veterinary surgeons for bone fixation surgeries, treating bone fractures in animals, and are usually made of metals like pure commercial titanium (Ti) or titanium alloys, stainless steel, cobalt-chromium (Co-Cr) alloys.
The orthopedic implants are also used as a support structure for healing fractures and reconstructive surgeries. Orthopedic implants include screws, plates, pins, and wires which are used in surgeries performed on animals.
North America was the largest region in the veterinary orthopedic implants market in 2022.Western Europe was the second largest region in the veterinary orthopedic implants market.
The regions covered in the veterinary orthopedic implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types in veterinary orthopedic implants are advanced locking plate systems, tibial plateau levelling osteotomy implants, tibial tuberosity advancement implants, total elbow replacement, total hip replacement, total knee replacement, and trauma fixations.A tibial plateau levelling osteotomy implants are used to repair cranial cruciate ligament rupture in dogs.
The veterinary orthopedic implants are used for animals such as dogs cats, and others that are used by end-users such as veterinary hospitals, veterinary clinics, and veterinary surgical centres.
The increase in the incidence of obesity and arthritis increases the demand for veterinary orthopedic implants market.Obesity is a condition where the weight of the pet affects the pet’s health to a point where it results in the weakening of bones, whereas arthritis in pets results in loss of strength in bones.
Obesity and arthritis may also result in fractures, and other bone-joint-related issues and both conditions result in adversely affect the overall health of the pet, consequently leading to shortening lifespan.Thus, the increased incidents of obesity and arthritis increase the demand for veterinary orthopedic implants.
According to Banfield Pet Hospital’s report on 2.5 million dogs and 500,000 cats treated in the USA, the number of osteoarthritis (OA) cases increased 66% in dogs and 150% in cats. The report also inferred that 52% of dogs and 41% of cats with OA are also overweight or obese. Thus, the increase in health conditions affecting the bones of pets such as obesity and arthritis positively affect the growth of the veterinary orthopedic market.
The high cost of orthopedic surgery inhibits the growth of the veterinary orthopaedic implants market.The surgery cost includes the equipment, X-ray, and consumables among others, which many of the households cannot afford.
For instance, in the USA, a typical examination of the problem costs around $400 and the cost of orthopaedic surgery ranges from $1,500 to $4,000. Thus, the high cost of orthopaedic surgery restricts the growth of the veterinary orthopaedic market.
The companies in the veterinary orthopaedic implants market are investing in 3D printing techniques for creating veterinary orthopaedic implants. 3D printing in the veterinary orthopaedics market is being used for creating printed bone models, surgical guides, and titanium implants. The use of 3D printing reduces the surgical time, and cost and removes the engineering complexities in orthopaedic procedures. Following the trend, many dogs with bone deformities have been treated by Langford Veterinary Services, a UK-based provider of veterinary services, through its collaboration with CBM. The collaboration enabled CBM to create 3D printed models of animal implants using titanium Ti6AI4V EL material. The MRI or CT scans are sent from Langford Veterinary Services in Bristol to CBM, then produces 3D printed models using Arcam EBM Q10plus machine. CBM is a U.K based company focused on advanced research, product development, and batch manufacturing facility. Thus, the use of 3D printing is one of the latest trends in the veterinary orthopaedic implants market and will contribute to the growth of the market.
In August 2022, Vimian Group, a Sweden-based animal health company, acquired New Generation Devices’ Assets.The acquisition, Vimian will get access to a new customer base to which they can tap to increase their revenues.
New Generation Devices is a Us-based veterinary orthopaedic implants manufacturer founded in 2002.
The countries covered in the veterinary orthopedic implants are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The veterinary orthopedic implants market research report is one of a series of new reports that provides veterinary orthopedic implants market statistics, including veterinary orthopedic implants industry global market size, regional shares, competitors with a veterinary orthopedic implants market share, detailed veterinary orthopedic implants market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary orthopedic implants industry. This veterinary orthopedic implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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