Veterinary Orthopedic Implants Market- Insights
Veterinary orthopedic implants are the medical device used in the treatment of various bones and joints related disorders and problems in animals including dog, cat, horses, bovine, etc. Some of the most common orthopedic problems in dogs include hip dysplasia, cruciate ligament tears, luxating patellas, and disc disease. Various medical implants including plates, screws, wires, etc. are used in the treatment of such problems.
Launch of novel implants, increasing trend of petting animals, and increasing awareness among people regarding animal health are expected to drive market growth
Launches of novel veterinary orthopedic implants is expected to drive the global veterinary orthopedic implants market growth over the forecast period.
For instance, in February 2019, Orthomed (UK) Ltd launched a medium size Modified Maquet Procedure (MMP) OrthoFoam wedge. The medium sized MMP wedge is 30 mm long and gives an advancement of 7.5 mm, which is appropriate for typical Springers, Staffies, and similar sized dogs.
In June 2018, Veterinary Orthopedic Implants, Inc. launched its new the Elite tibia-plateau-leveling osteotomy (TPLO) plate. This ideal locking TPLO plate is anatomically contoured to match the proximal tibial surface. New Elite TPLO plate is available in different sizes including: 1.5, 2.0, 2.4, 2.7, 3.5S, 3.5, 3.5B, and 3.5 JUMBO.
Furthermore, increasing trend of petting an animal in key regions and high prevalence of orthopedic problems in them is expected rise the demand for orthopedic implants and significantly support global veterinary orthopedic implants market growth.
For instance, according to the National Pet Owners Survey conducted by the American Pet Products Association (APPA) in 2017-2018, over 85 million or 60- 80% of the U.S. families, own a pet.
The global veterinary orthopedic implants market size was valued at US$ 250.9 Mn in 2018, and is expected to witness a CAGR of 7.8% during the forecast period (2018–2026).
Figure 1. Global Veterinary Orthopedic Implants Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Key players are involved in strategic partnership and collaborations to expand their geographical presence
Key players in the market are involved in strategic partnership and collaborations, in order to expand their presence in large geographic area.
For instance, in January 2019, BioMedtrix partnered with Laboratorios Macrimasa-Vet as an exclusive distributor of the Universal Hip (including Micro & Nano Hip), TPLO Curve, and I-Loc IM Fixator in Spain. Laboratorios Macrimasa-Vet will provide sales and service to existing BioMedtrix accounts as well as pursue and support new customers.
Such strategic partnerships by key players to expand access of their products in large areas is expected to increase availability of veterinary orthopedic implants, globally, which is expected to support the market growth.
Figure 2. Global Veterinary Orthopedic Implants Market Share (%) Analysis, By Region, 2026
Source: Coherent Market Insights Analysis (2018)
Low presence of veterinary clinics and hospitals in some rural areas in emerging economies such as Africa, India, and China is expected to be a major restraining factor for growth of the global veterinary orthopedic implants market. This low presence of veterinary clinics and hospitals limits the access to treatment and hence, is expected to negatively affect growth of this market.
Veterinary medical devices are not as strictly regulated as medical devices used for human. In U.S. Pre-market approval is not required and FDA does not require submission of a 510(k), PMA or any pre-market approval for devices used in veterinary medicine.
Key players operating in the global veterinary orthopedic implants market include Kyon Pharma, Inc., Veterinary Orthopaedics., Narang Medical Limited, BioMedtrix, LLC, Orthomed (UK) Ltd, DePuy Synthes (a subsidiary of Johnson & Johnson), Veterinary Instrumentation, Ltd., Veterinary Orthopedic Implants, Medicatechvet, Microsurgery Instruments, Inc., B. Braun Melsungen AG, Königsee Implantate GmbH, Everost Inc., Integra LifeSciences, Intrauma S.p.A., Ortho Max Manufacturing Company Pvt. Ltd., and RITA LEIBINGER MEDICAL GmbH & Co. KG.
Veterinary orthopedic implants are designed to use in the treatment of various orthopedic diseases in animals such as dogs, cats, and horse. There are number veterinary implants available in market for treatment and management of various orthopedic diseases. Some of the common implants includes Total Knee Replacement (TKR) Implants, Total Hip Replacement (THR) Implants, Total Elbow Replacement (TER) Implants, Tibial Tuberosity Advancement (TTA) Implants, Tibial Plateau Leveling Osteotomy (TPLO) Implants, and Advanced Locking Plate System (ALPS).
Launch of novel veterinary orthopedic implants by key players in the market is expected to drive global veterinary orthopedic implants market growth over the forecast period.
For instance, in June 2018, Veterinary Orthopedic Implants, Inc. launched its new the Elite TPLO plate. This ideal locking TPLO plate is anatomically contoured to match the proximal tibial surface. New Elite TPLO plate is available in different sizes including: 1.5, 2.0, 2.4, 2.7, 3.5S, 3.5, 3.5B, and 3.5 JUMBO.
In 2012, Integra LifeSciences Holdings Corp launched its the Integra Miltex Veterinary Orthopedic Implant line, which includes plates, screws, lateral suturing products, and instruments that aid in the repair of torn cruciate ligaments and broken or fractured bones in companion animals.
Furthermore, increasing trend of adopting pets in key regions and high prevalence of orthopedic diseases in them is expected to increase the demand for veterinary orthopedic implants, which creates a conducive environment for global veterinary orthopedic implants market growth over the forecast period.
For instance, according to data published by American Pet Products Association in 2016, around 85.8 million cats and 78 million dogs are owned by people in the U.S. and around 44% of all households in the U. S. have a dog and 35% have a cat.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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