Rockville, MD, Oct. 14, 2024 (GLOBE NEWSWIRE) -- A new research report published by Fact.MR states that the global veterinary orthopedic implants market is set to reach a valuation of US$ 2.87 billion in 2024 and further expand at a CAGR of 17.7% from 2024 to 2034.
Orthopedic implants improve mobility, reduce discomfort, and restore joint function. All of these characteristics entice pet owners to choose such implants to help their dogs return to regular life. Cows are an essential part of the agricultural process, and farmers must regularly monitor the health of their animals to keep the process functioning. More farmers understand the importance of orthopedic implants and approach the appropriate hospitals in the event of an emergency to get orthopedic procedures for their cattle.
Factors such as rising awareness of veterinary orthopedic implants are contributing to market expansion. Furthermore, greater consumer knowledge of preventative animal healthcare and ease of access are encouraging the usage of veterinary orthopedic implants. However, technological advancements in veterinary orthopedic implants are projected to create profitable growth prospects in developing countries such as Brazil over the forecast period.
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Key Takeaways from the Market Study:
- The global veterinary orthopedic implant market is forecasted to reach a valuation of US$ 14.67 billion by the end of 2034.
- North America is evaluated to hold a global market share of 17% by the end of 2034.
- The Latin American market is forecasted to expand at a CAGR of 10.3% from 2024 to 2034.
- Canada is analyzed to occupy a market share of 11.8% by 2034 in the North American region, and sales of veterinary orthopedic implants in the country are evaluated to rise at a CAGR of 8% from 2024 to 2034.
- The Latin American market is projected to occupy a share of 6.7% by 2034-end.
- Based on end user, the veterinary clinics segment is estimated to reach a valuation of US$ 1.39 billion in 2024.
“Trend of keeping animal companions is fostering greater empathy toward animal care, thereby driving the growth of the market for veterinary orthopedic implants,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Veterinary Orthopedic Implant Market:
Fusion Implants; Orthomed; KYON Pharma; Biomedtrix; DePuySynthes; Integra Lifesciences; B. Barun Melsungen AG; Veterinary Orthopedic Implants.
3D Printed Implants Attracting More People toward Trying This Technique:
Perhaps one of the most interesting recent breakthroughs is the use of 3D printing and computer-assisted design (CAD) software to create personalized drill guides, cutting guides, and even custom implants. These guides and implants are based on high-resolution 3D CT images. This method has revolutionized the treatment of difficult limb deformities, as well as a range of complex spinal disorders. This implant technique is a key breakthrough and has become popular among veterinary doctors.
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Veterinary Orthopedic Implant Industry News:
The American medical device manufacturer DePuy Synthes (Johnson & Johnson Services, Inc.) purchased OrthoSpin, an Israeli startup that develops and manufactures computerised strut systems, in December 2021.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the veterinary orthopedic implant market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (implants, instruments), application (tibial plateau leveling osteotomy, tibial tuberosity advancement, trauma fixation application, joint replacement, others), and end user (veterinary hospitals, veterinary clinics, others), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Veterinary Endoscopy Market: The global veterinary endoscopy market is currently valued at US$ 184 million. Global sales of veterinary endoscopy machines are expected to rise at a CAGR of 5.5% from 2022 to 2027 and will reach US$ 240.4 million by 2027.
Veterinary Surgical Instruments Market: The global veterinary surgical instruments market size was valued at US$ 1.09 Billion in 2023, and is projected to reach US$ 1.86 Billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period from 2023 to 2033.
Veterinary Oncology Market: The global veterinary oncology market size stands at a valuation of US$ 260 Million in 2023, and is estimated to reach US$ 800 Million by 2033-end, with a projected compound annual growth rate (CAGR) of 12% during the forecast period from 2023 to 2033.
Animal Healthcare Market: The global animal healthcare market is estimated at US$ 42.87 billion in 2024, as per a new study by Fact.MR. Worldwide demand for animal health products is forecasted to increase at a CAGR of 4.6% and reach a market value of US$ 67.48 billion by the end of 2034.
Veterinary Arthroscopy Device Market: Worldwide sales of veterinary arthroscopy devices are estimated at US$ 401 million in 2024. The global veterinary arthroscopy device market has been forecasted to expand at 6.1% CAGR and reach a value of US$ 721.9 million by the end of 2034.
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