As per a survey conducted by the American Pet Products Association (APPA), around 68% of the U.S. households own a pet. It is estimated that approximately US$ 75.38 Bn will be spent on animal care in 2019. The growing population of pet owners is a primary factor driving the global veterinary orthopedic implants market. The information is shared by Fortune Business Insights, in a report, titled “Veterinary Orthopedic Implants Market Size, Share and Global Trend By Product Type (Tibial Plateau Levelling Osteotomy Implants, Advanced Locking Plate System, Total Elbow Replacement Implants, Total Knee Replacement Implants), By Application (Bone fractures, Osteoarthritis, Elbow dysplasia, Hip dysplasia, Patellar luxation), By End Users (Veterinary Hospitals, Veterinary Clinics), and Geography Forecast till 2026.”
The demand for animal health products is increasing as people around the world are willing to spend more on the well-being and health of their companion animals. Against this backdrop, the veterinary animal health implants market share is likely to increase in the forthcoming years.
Pet animals such as dogs and cats majorly suffer from sports injuries, vehicular trauma, and fights among others. In case of a fracture, orthopedic surgeries such as elbow replacement, total knee replacement, and others help animals to heal their bones. Depending on the intensity of bone fracture, veterinary doctors decide the type of treatment or implant is required. The increasing approvals on veterinary orthopedic implants is expected to create attractive growth opportunities for the market in the forecast period. This will further increase the veterinary orthopedic implants market size.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Veterinary Orthopedic Implants market. Some of the companies operating the global Veterinary Orthopedic Implants market are;
- DePuy Synthes,
- Braun Melsungen AG,
- Fusion Implants,
- Integra LifeSciences,
- Orthomed (UK) Ltd,
- BioMedtrix LLC,
- Veterinary Orthopedic Implants,
- EVEROST INC.,
- KYON Pharma, Inc.
Rising Number of Highly Trained Professionals to Give Tailwinds to the Market in North America
As per the Association for Pet Obesity Prevention, around 59% of cats and 54% of dogs in the U.S. suffered from obesity in the year 2016, which can lead to some type of orthopedic-related concern. The market in North America is expected to emerge dominant through the forecast years owing to the presence of advanced and innovative veterinary orthopedic instruments. The increasing pet population across the countries in North America contributes to the veterinary orthopedic implants market growth. This, coupled with the introduction of favorable health insurance measures, will give significant impetus to the market. Furthermore, the presence of well-trained veterinary experts is another factor positively impacting the growth of the market in North America.
The government in Europe is actively supporting the well-being of animals. This, together with the presence of several veterinary clinics, is favouring the growth of the market in Europe. Apart from North America and Europe, Asia Pacific is also anticipated to witness considerable growth in the market. Presence of well-established veterinary orthopedic centers and ongoing research and development (RandD) for new product launches are likely to create growth opportunities for the market in Asia Pacific. Driven by these factors, the demand for superior and high-quality veterinary orthopedic products is increasing by 2026. All the above-mentioned factors are expected to surge the veterinary orthopedic implants market size between 2018 and 2026.
By Product Type
- Tibial Plateau Levelling Osteotomy (TPLO) Implants
- Tibial Tuberosity Advancement (TTA) Implants
- Advanced Locking Plate System (ALPS)
- Total Elbow Replacement (TER) Implants
- Total Knee Replacement Implants
- Bone fractures
- Elbow dysplasia
- Hip dysplasia
- Patellar luxation
BioMedtrix Partnered with Laboratories Macrimasa-Vet to Increase its Sales and Support New Customers
“The rising incidence of osteoarthritis and bone fractures among animals is likely to augment demand for veterinary orthopedic surgical procedures,” stated a lead analyst at Fortune Business Insights. “Pet owners across the world are increasingly becoming aware of the animal health and are willing to spend on surgical interventions, thus increasing the veterinary orthopedic implants market revenue,” he added. A veterinary medical device company called Veterinary Orthopedic Implants, Inc. launched a new Elite TPLO plate in June 2018. This plate is available in different sizes and is contoured to match the proximal surface.
Companies are planning to focus on different strategies to strengthen their market foothold. Such strategies are likely to help companies broaden their product portfolio and increase the availability of veterinary orthopedic implants and veterinary medicine globally. For instance, in February 2019, Orthomed UK launched a medium-sized MMP OrthoFoam Wedge to simplify the surgical technique among dogs. This MMP wedge is a revolution of TTA system used for canine cruciate diseases. Biomedtrix announced its collaboration with Laboratories Macrimasa-Vet in January 2019. The collaboration aims at strengthening Biomedtrix’s product portfolio and distribution of products such as I-Loc IM Fixator, Universal Hip, and TPLO Curve in Spain.
Some of the other key players operating in the company are DePuy Synthes, Fusion Implants, B. Braun Melsungen AG, Integra LifeSciences, KYON Pharma, Inc., and EVEROST INC.
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