Veterinary Orthopedics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Veterinary Orthopedics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : September, 2022 | Medical Devices

Report Digest

Global Veterinary Orthopedics Market - Snapshot

Rising trend of pet adoption, higher spending on pet’s health and well-being, and increasing prevalence of chronic ailments among domestic animals are some of the key drivers for the global veterinary orthopedics market. For instance, according to a report by the PDSA Animal Well-Being in 2020, around 51 % of the citizen population of the United Kingdom owned a pet. The report projected that the United Kingdom had around 10.9 million pet cats and 10.1 million pet dogs in 2020. Furthermore, rising number of veterinarians as well as increasing adoption of pet insurance are also motivating growth in the global veterinary orthopedics market.

Moreover, rising instances of pet obesity as well as increase in the number of government initiatives promoting pet wellbeing are also aiding in the development of the global veterinary orthopedics market. Increasing demand for premium and effective animal healthcare is also another driver for the global veterinary orthopedics market. Products in the global veterinary orthopedics market aid veterinarians in treating injuries and diseases pertaining to bones, ligaments, joints, and tendons of animals. Rising number of musculoskeletal injuries in pets is driving the demand in the global veterinary orthopedics market.

Rising fame of various animal sports such as horse racing, rodeos, greyhound racing, and certain illegal sports such as dog fighting, cock fighting, and bull fighting is also creating an increased demand for the products and services in the global veterinary orthopedics market. Furthermore, increase in the number of companion or service animals is also driving the demand in the global veterinary orthopedics market. On the other hand, high cost of products as well as surgeries may hamper the growth trajectory of the global veterinary orthopedics market in the next few years.

Global Veterinary Orthopedics Market: Introduction 

The global veterinary orthopedics market is undergoing a phase of significant transition. The increasing population of pets and the rising awareness regarding their healthcare has boosted the global veterinary orthopedics market substantially. The advancements in technologies, together with the improving healthcare infrastructure, are proving to be beneficial for the growth of this market. Going forward, various marketing strategies, adopted by key players to beat the competition, are likely to create new revenue streams in the years to come. 

The research report presents a precise overview of the global veterinary orthopedics market. It takes various aspect of this market, such as the key trends, market dynamics, and segmentation, in consideration, to predict its performance over the period from 2018 to 2028. It also offers an assessment of each of the regional markets for veterinary orthopedics across the world. 

Global Veterinary Orthopedics Market: Notable Developments 

  • Recently, Surgical Holdings introduced two new products, namely, chisels and osteotomes, in order to expand its product portfolio. The veterinary orthopedics market across the world is expected to benefit significantly from these roll-outs in the long run. 

Some of the most prominent competitors operating in the competitive landscape of global veterinary orthopedics market include –

  • B.Braun Vet care GmbH
  • KYON pharma Inc.
  • Veterinary Orthopedic Implants
  • GerMed USA

These players are concentrating on technological advancements in the existing product portfolio. They are also looking forward to involve more in research and development activities for increased frequency of new product launches in order to maintain their position in the worldwide  veterinary orthopedics market. 

Global Veterinary Orthopedics Market: Market Dynamics 

The increase in the trend of pet adoption, together with the rise in the per capita spending capacity in developing economies is projected to reflect positively on the growth of the global veterinary orthopedics market. Furthermore, the augmenting number of veterinary practitioners and the swift technological advancements in orthopedic devices used for the treatment and surgeries of pets are also expected to support the veterinary practitioners market across the world, since the instances for surgeries for pet injuries have increased nowadays. 

In addition to this, the surge in animal hospitals and pet care clinics across the world is projected to drive the demand for veterinary orthopedic devices and practitioners, leading to a high rise in the global veterinary orthopedics market in the long run. 

North America Retains its Leadership 

North America has been leading the global veterinary orthopedics market, thanks to the presence of a large pool of prominent players, especially in the U.S. The regional market is likely to remain dominant over the next few years, primarily due to the rising investments in R&D by leading companies. In addition to this, the augmenting prevalence of osteoarthritis among pet animals is projected to prompt researchers and healthcare professionals to shift their focus toward advanced technologies, which consequently, is anticipated to widen the scope for the growth of veterinary orthopedics in this region. 

The surge in the collective efforts by leading companies to ensure high standards for veterinary orthopedics products and the improvement in their product portfolio are also projected to support the North America veterinary orthopedics market. Among other regional veterinary orthopedics markets, Asia Pacific is predicted to demonstrate a lucrative growth rate over the forthcoming years, thanks to the increasing trend of pet adoption in emerging Asian economies, such as India and South Korea. The rise in R&D activities and the growing awareness regarding pet healthcare in emerging economies are also expected to propel the Asia Pacific veterinary orthopedics market in the near future.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?