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The global veterinary orthopedics market size was USD 475.2 Million in 2022 and is expected to register a rapid revenue CAGR of 9 % during the forecast period.

NEW YORK CITY, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The Veterinary Orthopedics Market is predicted to grow rapidly with a revenue CAGR of 9% during the forecast period, after reaching a market size of USD 475.2 Million in 2022. The market's revenue growth is driven by various factors such as the increasing prevalence of orthopedic diseases in animals, the rising adoption of pets, and the need for veterinary services.

Orthopedic diseases are becoming more common in animals due to factors such as aging, hereditary susceptibility, and lifestyle changes. This has led to a growing demand for veterinary orthopedic goods and services, including joint replacement surgeries, implants, and braces. The increasing focus on animal welfare and access to advanced diagnostic and treatment options are also contributing to market revenue growth. The availability of cutting-edge imaging techniques like CT and MRI has made it possible to diagnose and treat orthopedic disorders in animals more accurately, while the development of less invasive surgical methods and premium implants and surgical tools is further driving market growth.

The demand for specialist veterinary orthopedic services like sports medicine and rehabilitation, as well as the increasing use of regenerative medicine therapies such as stem cell and PRP therapy, is also driving market revenue growth. However, the high cost of veterinary orthopedic procedures and products is a major factor that could hinder market revenue growth.

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Additionally, the lack of trained veterinary personnel and the limited awareness of veterinary orthopedics among pet owners in underdeveloped nations are other factors that could slow down the market's revenue growth.

Segments Covered in the Report –

The global veterinary orthopedics market can be categorized by product outlook, application outlook, and end-use outlook.

The product outlook is divided into instruments, implants, plates, screws, and others. The instruments segment includes tools like drills, saws, and forceps used in orthopedic surgeries. The implants segment comprises products like joint replacements, bone plates, and screws. The plates sub-segment includes compression plates, arthrodesis plates, and acetabulum plates. Lastly, the screws sub-segment includes lag screws, cortical screws, and cancellous screws.

The application outlook is divided into various categories, including total knee replacement, total hip replacement, total elbow replacement, trauma fixation, TPLO (Tibial Plateau Leveling Osteotomy), TTA (Tibial Tuberosity Advancement), lateral fixation, and others. Total knee replacement, total hip replacement, and total elbow replacement are joint replacement surgeries commonly performed in veterinary orthopedics. Trauma fixation involves repairing broken bones, while TPLO and TTA are surgical procedures used to treat cranial cruciate ligament injuries in dogs. Lateral fixation is used to treat fractures in long bones, while the "others" category includes various other orthopedic surgeries.

The end-use outlook is divided into hospitals and clinics and others. Hospitals and clinics comprise veterinary hospitals, private clinics, and other medical facilities that offer veterinary orthopedic surgeries. The "others" category includes various other facilities like animal shelters, pet rehabilitation centers, and research laboratories.

Overall, these categorizations help provide a comprehensive understanding of the global veterinary orthopedics market, its products, applications, and end-users.

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Strategic development:

The veterinary orthopedics market has been experiencing significant strategic developments in recent years. Below are some of the key trends and developments in the market:

Technological advancements: The veterinary orthopedics market has witnessed significant technological advancements in recent years, including the development of advanced diagnostic and imaging techniques like CT and MRI scans. Additionally, the market has seen the introduction of advanced surgical tools and implants, which have enabled minimally invasive surgeries and improved surgical outcomes.
Increasing focus on regenerative medicine: The use of regenerative medicine techniques like stem cell therapy and Platelet-Rich Plasma (PRP) therapy is gaining popularity in the veterinary orthopedics industry. These techniques provide a non-invasive and efficient therapeutic alternative for orthopedic disorders in animals.

Rising demand for specialist veterinary orthopedic services: The demand for specialist veterinary orthopedic services like sports medicine and rehabilitation is increasing. This trend is driven by pet owners' desire to provide the best care for their animals and the increasing availability of specialist veterinary clinics.
Growing prevalence of orthopedic diseases in animals: The increasing prevalence of orthopedic diseases in animals, such as fractures, joint injuries, and musculoskeletal illnesses, is a key driver of the veterinary orthopedics market. This trend is expected to continue as animals continue to age and lifestyles change.

Increasing pet adoption rates: The rising adoption of pets, particularly in developing countries, is expected to drive market growth. As more people adopt pets, the demand for veterinary orthopedic goods and services is expected to increase.
Strategic collaborations and partnerships: Market players are increasingly entering into strategic collaborations and partnerships to expand their market presence and product portfolio. This trend is expected to continue as market players seek to gain a competitive advantage in the market.

Competitive Landscape:

The global veterinary orthopedics market is dominated by a handful of major players who collectively hold a significant share of the market. These companies are implementing a variety of strategies to strengthen their position in the market, including mergers and acquisitions, strategic partnerships, and product development.

Some of the major players in the global veterinary orthopedics market include DePuy Synthes, Orthomed UK, Zoetis Inc., Merck & Co., Inc., Virbac, Bayer AG, Boehringer Ingelheim International GmbH, Vetoquinol SA, Heska Corporation, and Idexx Laboratories, Inc. These companies have a strong presence in the market and offer a range of veterinary orthopedic products and services.

DePuy Synthes, a subsidiary of Johnson & Johnson, is a major player in the global veterinary orthopedics market. The company offers a wide range of products, including implants, instruments, and power tools for veterinary orthopedic procedures. Similarly, Zoetis Inc., a leading animal health company, offers a range of orthopedic products, including implants, plates, and screws.

In addition to established players, the global veterinary orthopedics market is also witnessing the entry of new players. These companies are focusing on product innovation and developing new, more effective products to gain a foothold in the market. However, competition in the market is expected to remain intense, with established players continuing to dominate the market.

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Overall, the global veterinary orthopedics market is expected to witness robust growth in the coming years, driven by the increasing demand for veterinary orthopedic goods and services, rising awareness about animal welfare, and the development of new diagnostic and treatment alternatives.

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