Global Veterinary Orthopedics Market by Application (Total Elbow Replacement, TTA, Lateral Fixation, Total Hip Replacement, Total Knee Replacement, TPLO) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global veterinary orthopedics market was valued at USD 491.6 Million in 2020. It is expected to grow at an 8.3% compound annual growth rate (CAGR), between 2021 and 2028. The growth is expected to be accelerated by pet adoption, pet spending, chronic diseases, increased veterinarians and pet insurance. According to the 2020 PDSA Animal Wellbeing Report (PAW), 51% of U.K. residents owned a pet. The report also estimated that the U.K.'s cat and dog population was approximately 10.1 million and 10.9 millions, respectively.

Due to the COVID-19 pandemic, there was a slowdown on the market. There were reduced veterinary visits and delays in elective veterinary orthopedic surgery. Harmony Veterinary Center, Colorado U.S., suspended all veterinary elective procedures and surgeries in March 2020. An April 2020 survey conducted by the American Veterinary Medical Association, (AVMA), found that 98% of respondents reported limiting client contact because of the outbreak. About two-thirds of those surveyed had delayed or deferred some procedures. As lockdown protocols were relaxed in many countries, and guidelines issued by public health agencies to encourage resumption veterinary surgery, the global volume of surgeries recovered slowly. The Seven Hills Veterinary Hospital for example, updated its protocols effective June 2021 and reported an increase in the volume of appointments/telephone calls/urgent care and emergency services including surgeries. Although elective surgery has declined due to the COVID-19 pandemic, it is expected that this number will rebound in the coming years.

Banfield Pet Hospital's 2020 Report on Veterinary Emerging Topics states that pet obesity has become a major problem in the United States. 51% of the 1.9 million adult dogs that were examined at the hospital were overweight. Banfield Pet Hospital has seen an increase in pet obesity since 2007. According to the hospital, every 3rd cat and dog was overweight. Obesity can lead to comorbidities, such as osteoarthritis. These conditions often require surgery. According to Banfield Pet Hospital, arthritis/DJD and ligament/tendon conditions were the most common conditions that cause osteoarthritis in dogs and cats. This resulted in an increase in orthopedic surgery in canine pets.

According to NAPHIA, there was a 21% rise in pet insurance in the region in 2019, according to the North American Pet Health Insurance Association. NAPHIA reported that the sector continued to grow even though there were COVID-related issues in 2020. These factors will continue to drive the region's growth during the forecast period.

According to Pet Fair Asia's 2019 Chinese Pet Industry Report, Chinese urbanites spent approximately USD 28.8 trillion on their pets, mainly cats and dogs. Although China's pet insurance market is still in its infancy, it is expected to expand rapidly, making pet care and treatment more affordable. These factors will drive China's market.

Product Insights

In 2020, the implants segment was the dominant market. It accounted for over 55.0% of the total revenue. Further, the implants segment can be divided into plates, screws, or other. The plates segment includes compression plates, arthrodesis and acetabulum plate. According to scil, the most common procedures that require veterinary ortho implants are cruciate ligament repair and traumas.

Over the forecast period, instrument sales are expected to grow significantly. According to veterinarian surgeons, small animal surgeries require highly specialized surgical instruments that can provide precision and accuracy. These instruments include bone filers, bone files, or bone rasps.

Application Insights

TTA was the dominant segment of the market, accounting for more than 19.0% of the total revenue share in 2020. This is due to the associated benefits, such as less post-operative pain, complications and a quicker recovery period. There are three types of applications: total knee replacement, total ankle replacement, total hip replacement, and total elbow replacement.

The forecast period will see steady growth in total knee replacement and TPLO segments, due to an increase of canine orthopedic surgeries. In 2016, the American Veterinary Medical Association surveyed Veterinary Orthopedic Society members. According to the survey, VOS members prefered the TPLO method for treating CCL ruptures in dogs weighing over 15 kgs.

End-use Insights

Hospitals and clinics dominated the market, accounting for over 80.0% of the total revenue in 2020. Clinics and hospitals have the highest footfall and are better equipped for orthopedic procedures and surgery. This segment holds the largest share. This segment is a favorite choice for pet owners due to its ability to perform post-surgical procedures and diagnostic tests. It is expected that this segment will drive the growth of the veterinary orthosis market during the forecast period.

Others include ambulatory care units and veterinary research centres. It is expected to grow at an impressive rate over the forecast period. This can be attributed both to increased R&D investments as well as funding for the development of therapeutically advanced surgical techniques.

Regional Insights

North America was the dominant market, accounting for 31.6% of the total revenue in 2020. Due to pet obesity, the market for veterinary orthotics is expected to grow during the forecast period. The 2018 results of the Association for Pet Obesity Prevention, U.S., showed that 59.5% of cats were obese and 55.8% were dogs. In 2015, 58% and 54% respectively were obese. Obesity can make pets more vulnerable to severe conditions such as joint and hip problems, fracture of the Cranial Cruciate Ligament (CCL), etc. The presence of large players and a well-established healthcare infrastructure are other factors that drive the North American market for veterinary orthotics.

The fastest growing market in Asia Pacific for veterinary orthotics is predicted to be the Asia Pacific. This is due to factors like pet spending, humanization, and the presence market players. Japan's pets, particularly cats and dogs, have a longer lifespan, which makes them more vulnerable to injuries such as arthritis and pain in the knee/hip and elbow/shoulder. This will drive Japan's market for veterinary orthotics.

Market Share Insights & Key Companies

These key players are focused upon increasing market share through various strategic initiatives, including collaborations, distribution partnership, mergers and acquisitions, product development, and product development. Fidelio Capital acquired Veterinary Orthopedic Implants in October 2019. It later became part Movora Company. Fidelio Capital acquired BioMedtrix LLC in October 2019, and it was made part of Movora Company in March 2020. The following are some of the most prominent players in the veterinary orthosis market:

• B. Braun Melsungen AG

• Implants for Veterinary Orthopedics

• Kyon AG

• STERIS

• Integra LifeSciences Corporation

• Ortho Max Manufacturing Company Pvt. Ltd.

• BioMedtrix, LLC

• Surgical Holdings Veterinary

• GerVetUSA

Up Market Research published a new report titled “Veterinary Orthopedics Market research report which is segmented by Application (Total Elbow Replacement, TTA, Lateral Fixation, Total Hip Replacement, Total Knee Replacement, TPLO), By Players/Companies B Braun Melsungen AG, Integra LifeSciences Corporation, STERIS, BioMedtrix LLC, Kyon AG, Veterinary Orthopedic Implants, Surgical Holdings Veterinary, GerVetUSA, Ortho Max Manufacturing Company Pvt Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Veterinary Orthopedics Market Report Segments:

The market is segmented by Application (Total Elbow Replacement, TTA, Lateral Fixation, Total Hip Replacement, Total Knee Replacement, TPLO).

Veterinary Orthopedics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Veterinary Orthopedics Market

Overview of the regional outlook of the Veterinary Orthopedics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Veterinary Orthopedics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Veterinary Orthopedics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Total Elbow Replacement

                2. TTA

                3. Lateral Fixation

                4. Total Hip Replacement

                5. Total Knee Replacement

                6. TPLO

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Veterinary Orthopedics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Veterinary Orthopedics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.