The global veterinary orthopedic implants market space encompasses surgical implants and devices used to treat orthopedic injuries and diseases in animals. Veterinary orthopedic implants help in reconstructing various bones and joints affected by trauma, osteoarthritis and other conditions. Common implants include plates, screws, pins/wires and rods used widely in fracture repair procedures of bones. Surging pet adoption and rising expenditure on pet healthcare have augmented demand for veterinary orthopedic implants globally.

The global veterinary orthopedic implants market is estimated to be valued at US$ 341.57 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the veterinary orthopedic implants are IBM Corporation, Hewlett Packard Enterprise, Infosys Limited, Wipro Limited, Capgemini SE, Cognizant Technology Solutions Corporation, TATA Consultancy Services Limited, Deloitte Touche Tohmatsu Limited, Accenture plc, PAREXEL International Corporation, PwC International Limited, IQVIA Holdings Inc., Tata Technologies Limited, Computer Sciences Corporation (CSC), Eurofins Scientific SE. These players are focusing on new product launches and strategic collaborations to gain a competitive edge in the market.

The surge in animal adoption during the pandemic has opened up opportunities for market players to tap into untapped regions. Moreover, growing awareness about animal health and increasing incidence of orthopedic conditions will drive the demand for veterinary orthopedic implants globally.

North America dominates The Veterinary Orthopedic Implants Market owing to high pet care expenditure and availability of advanced veterinary healthcare facilities. However, Asia Pacific is expected to witness highest growth during the forecast period with India and China emerging as highly lucrative markets. This can be attributed to rising pet adoption, growing pet healthcare industry and increasing per capita animal health expenditure in the region.

Market Drivers
Increasing pet adoption - Surging pet adoption during the pandemic has led to rise in demand for advanced veterinary care including orthopedic surgeries and implants. According to the APPA, the US pet industry grew by 5% in 2020, indicating rising trend of pet adoption worldwide.

Growing prevalence of diseases - Healthcare burden of orthopedic diseases and conditions like osteoarthritis, bone fractures, etc. is rising among pets worldwide necessitating the use of orthopedic implants. This drives the overall market growth.

Market Restrains
High costs associated - Veterinary orthopedic procedures and implants are often costly for pet owners. This limits their widespread adoption in developing countries with budget constraints.

Lack of skilled veterinarians - Although orthopedic veterinary specialty is evolving, shortage of large animal orthopedic specialists still exists in some regions limiting the market penetration.


Segment Analysis
This veterinary orthopedic implants market is dominated by Internal fixations sub segment. This is because majority of orthopedic surgeries in animals require internal fixations like plates, screws, nails etc. to fix bone fractures and other injuries. Plates are dominating product type within internal fixations as they provide rigid stability and allow early mobilization of pets post fracture. Factors like rising pet adoption, increasing pet healthcare expenditure and growing number of specialty orthopedic veterinarians are driving the demand for plates within internal fixations.

Exoskeletons sub segment is also growing notably in dogs requiring mobility assistance due to aging or mobility related diseases. This is offering new growth opportunities within external fixations. Advancement in development of patient-specific implants with 3D printing will further aid the segment growth over coming years.

Regional Analysis
North America region currently holds maximum share in veterinary orthopedic implants market owing to high rate of pet ownership, advanced healthcare facilities and rising per capita animal healthcare expenditure in countries like United States and Canada. Europe is second largest regional market driven by growing number of veterinary specialists and rising awareness aboutanimal welfare. Asia Pacific region is fastest growing market for veterinary orthopedic implants attributed to increasing pet adoption, expanding pet healthcareindustry and growing number of veterinary practitioners in countries like India, China and other Southeast Asian countries. Latin America and Middle East & Africa also offer lucrative growth opportunities for players in veterinary orthopedic implants market due to improvement in animal healthcare facilities and services in recent past.

 

Get more insights on Veterinary Orthopedic Implants Market