US Veterinary Orthopedic Implants Market Size Likely to Surpass at a CAGR of 4.4% By 2033

As per the current market research conducted by the CMI Team, the US Veterinary Orthopedic Implants Market size is expected to record a CAGR of 4.4% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 59.4 Million. By 2032, the valuation is anticipated to reach USD 87.5 Million.

US Veterinary Orthopedic Implants Market: Growth Factors and Dynamics

• Advanced Imaging Technologies: The integration of advanced imaging technologies, such as MRI and CT scans, enhances diagnostics and surgical planning. This trend contributes to the precision of orthopedic procedures, encouraging the use of implants for tailored and effective interventions.

• Increased Insurance Coverage: The rise in pet insurance coverage facilitates access to advanced veterinary care, including orthopedic procedures and implants. As more pet owners opt for insurance plans covering orthopedic interventions, the financial barrier to seeking specialized veterinary care is lowered, positively impacting market demand.

• Rising Pet Ownership Rates: The US Veterinary Orthopedic Implants market is driven by an increasing trend in pet ownership. As pets become integral family members, there is a growing demand for advanced orthopedic interventions, including surgeries requiring implants for fractures and joint issues.

• Technological Advancements: Ongoing advancements in veterinary medicine and technology play a crucial role. Innovations in implant materials, surgical techniques, and diagnostic tools enhance the effectiveness of orthopedic procedures, attracting both veterinarians and pet owners.

• Increasing Pet Healthcare Expenditure: Growing awareness of pet health and an increased willingness among pet owners to invest in advanced veterinary care contribute to market expansion. This includes orthopedic surgeries and associated implants, as pet owners seek the best possible medical outcomes for their animals.

• Focus on Regenerative Medicine: There is a growing focus on regenerative medicine within the veterinary orthopedic field. Innovative solutions that promote tissue regeneration and healing, often in conjunction with orthopedic implants, are gaining traction, influencing market dynamics in the US.

• Specialized Sports and Working Animals: The use of animals in sports and working capacities, such as police and service dogs, has risen. These animals are more prone to musculoskeletal injuries, fueling the demand for orthopedic implants to support their physical well-being.

• Aging Pet Population: The aging pet population contributes to market growth. Older pets often experience orthopedic conditions like arthritis, increasing the need for orthopedic implants to maintain their mobility and overall quality of life.

US Veterinary Orthopedic Implants Market: Partnership and Acquisitions

• In 2020, BioMedtrix, a veterinary orthopedic implant manufacturer, has been acquired by Fidelio Capital. As a financially robust majority owner experienced in animal health investments, Fidelio’s involvement promises to provide both BioMedtrix and KYON (another player in the sector) with increased resources and valuable expertise.

• In 2020, DePuy Synthes has extended its partnership with the AO Foundation for another five years. This collaboration will focus on providing professional education and developing innovations aimed at enhancing patient outcomes and improving the overall efficiency of care delivery.

Report Scope

US Veterinary Orthopedic Implants Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the US Veterinary Orthopedic Implants Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Delayed and Reduced Procedures: The pandemic led to delayed and reduced non-urgent veterinary procedures, including orthopedic interventions, as pet owners and veterinarians prioritized essential and emergency care.

• Supply Chain Disruptions: Global supply chain disruptions affected the availability of raw materials and components for orthopedic implants, leading to potential shortages and increased manufacturing costs.

• Financial Strain on Pet Owners: Economic uncertainties during the pandemic resulted in financial strain on pet owners, influencing their willingness to invest in elective procedures like orthopedic surgeries for their pets.

• Pent-up Demand: With the easing of restrictions, there’s a pent-up demand for delayed veterinary procedures, including orthopedic surgeries. As pet owners regain confidence, there’s an anticipated surge in demand for these services.

• Emphasis on Preventive Care: There is a renewed emphasis on preventive veterinary care, encouraging routine check-ups and early intervention for orthopedic issues. This proactive approach helps sustain a steady demand for orthopedic implants.

• Telemedicine Adoption: The integration of telemedicine has become more prevalent, allowing veterinarians to remotely assess and discuss the necessity of orthopedic interventions. This ensures continued care and consultation, even in a post-pandemic landscape.

• Technological Innovations: Ongoing advancements in orthopedic implant technologies, including 3D printing and improved materials, are driving the recovery. Innovations that enhance surgical precision and post-operative outcomes are expected to attract veterinarians and pet owners.

• Financial Assistance Programs: Veterinary practices may introduce financial assistance programs or flexible payment options to alleviate the economic impact on pet owners. This ensures that financial constraints do not hinder access to necessary orthopedic care for pets.

In conclusion, the COVID-19 pandemic has had a mixed impact on the US Veterinary Orthopedic Implants Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the US Veterinary Orthopedic Implants Market:

• DePuy Synthes Vet
• Braun Vet Care
• Veterinary Orthopedic Implants Inc.
• BioMedtrix LLC
• IMEX Veterinary Inc.
• KYON Veterinary Surgical Products
• Securos Surgical
• Ortho Max Manufacturing Company
• MWI Animal Health
• Everost Inc.
• Intrauma S.p.A.
• Jorgensen Laboratories
• Integra LifeSciences Corporation
• IMV Technologies
• Arthrex Inc.
• Others

The US Veterinary Orthopedic Implants Market is segmented as follows:

By Product

• Tibial Plateau Levelling Osteotomy
• Advanced Locking Plate System
• Total Knee Replacement Implants
• Others

By End User

• Hospitals
• Clinics
• Others

By Animal

• Dogs
• Cats
• Pigs
• Sheep
• Horse
• Others