The report covers forecast and analysis for the veterinary orthopedic implants systems market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the veterinary orthopedic implants market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the veterinary orthopedic implants market on a global level.
As per the report, the global demand for veterinary orthopedic implants market was valued at approximately USD 271.78 million in 2018 and is expected to generate revenue of around USD 455.79 million by end of 2025, growing at a CAGR of around 7.68% between 2019 and 2025.
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The veterinary orthopedic implants market is going to witness an upsurge in its business due to various driving factors; the chief factor being the increased number of companion animals including horses & service animals and pet animals. The rise in the animal racing competitions has also boosted the veterinary orthopedic implants market. Increasing animal healthcare expenditure has chiefly accelerated the veterinary orthopedic implants market. Over a period of time, there have been various advancements in the treatment methodology especially on the type of treatment given for veterinary orthopedic injuries. Increase in the number of veterinary doctors, upsurge in the vigilance about animal health, and the pet adoption rate has boosted the veterinary orthopedic implants market. However, high charges of pet care, the introduction of progressive veterinary orthopedic implants, and lack of veterinary practitioners may restrain the veterinary orthopedic implants market.
The veterinary orthopedic implants market is bifurcated into product type, end users, and regions. Based on product type, the veterinary orthopedic implants market is classified into plates, screws, jigs, pins & wires, etc. The plates segment is further classified into compression plates, L–plates, T–plates, arthrodesis plates, acetabulum plates, bending iron, and others. The compression plates segment is anticipated to dominate the veterinary orthopedic implants market in the forecast period. Based on end user, veterinary orthopedic implants market is segmented into veterinary hospitals, veterinary clinics, and others. The veterinary hospitals segment accounted for the major market share in 2018.
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North America is expected to lead the veterinary orthopedic implants market over the forecast period with a 37% registered in 2018, which is closely followed by Europe. This is due to more number of people opting for companion and pet animals in these regions and more animal healthcare expenditure. The Asia Pacific probably will be experiencing a rapid change in the compound annual growth rate. Latin America and the Middle East and Africa are expected to develop at a considerable pace in the near future.
The key players of veterinary orthopedic implants market include KYON Pharma, Inc., Vet Implants, Everost Inc., Integra LifeSciences, and BioMedtrix, LLC., among others.
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Global Veterinary Orthopedic Implants Market: Product Type Segment Analysis
- Compression Plates
- L – Plates
- T – Plates
- Arthrodesis Plates
- Acetabulum Plates
- Bending Iron
- Pins & Wires
Global Veterinary Orthopedic Implants Market: End-User Segment Analysis
- Veterinary Hospitals
- Veterinary Clinics
Global Veterinary Orthopedic Implants Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific