The global veterinary orthopedic implants market includes a wide range of implants such as plates, screws, pins/wires, rods, and cages used to treat fractures, bone deformities and other injuries in animals. These implants aid veterinarians in providing stability, proper realignment and fusion of fractured bones during osteosynthesis of fractures to help promote healing. Implants are made from biocompatible materials such as surgical stainless steel, titanium, and plastics that integrate well in the animal body without causing inflammation or rejection. Treatment with orthopedic implants helps restore proper function and mobility in companion animals like dogs and cats.
The global veterinary orthopedic implants market is estimated to be valued at US$ 296.5 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing pet ownership and improved access to veterinary healthcare are driving the demand for veterinary orthopedic implants. According to the American Pet Products Association (APPA), 70% of American households own a pet, which is estimated to be nearly 90 million homes with pets. Growing companion animal care spending reflects the high value owners place in ensuring their pets remain active and mobile. Implant technologies are also advancing, with 3D printing enabling customized implants tailored to an animal’s size and injury type. Biodegradable implants are gaining traction as they eliminate the need for post-operative implant removal surgeries. Nanotechnology incorporated implants aid faster healing by facilitating new bone growth. Increasing collaboration between human orthopedic device makers and veterinary medicine companies is likely to spur innovations in implant designs.
Threat of new entrants: The veterinary orthopedic implants industry has moderate threat of new entrants given the need for large capital investments and established relationships with veterinary practitioners.
Bargaining power of buyers: Veterinary practices and pet owners have moderate bargaining power as buyers since there are several established players manufacturing orthopedic implants.
Bargaining power of suppliers: Implant material and component suppliers face low to moderate bargaining power due to availability of substitutes and dependence of manufacturers on a regular supply chain.
Threat of new substitutes: Threat from new substitutes is low as implants require approvals and alternative therapies have limitations for certain conditions.
Competitive rivalry: The market witnesses high competitive rivalry among the top manufacturers to gain greater market share through innovative product launches and expansion into new regions.
Global Veterinary Orthopedic Implants Market Size is expected to witness high growth. The global veterinary orthopedic implants market is estimated to be valued at US$ 296.5 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
North America is currently the largest as well as the fastest growing regional market owing to rising pet adoption and pet care expenditure in the region. Asia Pacific is also expected to register strong growth propelled by expansion strategies of major global players and rising awareness about pet health insurance. Countries like India and China are emerging as lucrative markets.
Key players: Key players operating in the veterinary orthopedic implants market are B. Braun Vet Care GmbH, BioMedtrix, LLC, IMEX Veterinary, Inc., Innoplant Medizintechnik GmbH, KYON AG, Orthomed (UK) Ltd., BLUESAO Co. Ltd., New Generation Devices (NGD), Johnson & Johnson, MWI Animal Health, AmerisourceBergen Corporation, Platon Japan Co., Ltd., Veterinary Orthopedic Implants, NORER Orthopedic & Dental, OC Oerlikon Management AG, Jindal Medi Surge, Inc., and Mercury Orthopedics and Design, Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it