Veterinary Orthopedic Implants Market to Surpass US$ 457.6 Mn Threshold by 2026

Published On : May 28, 2019

Global Veterinary Orthopedic Implants Market, by Implants Type (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, Advanced Locking Plate System (ALPS), and Trauma Fixations (Plates, Screws, Wires, and Others)), by Animal Type (Dogs, Cats, and Others), by End User (Veterinary Hospitals and Veterinary Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 250.9 Mn in 2018, and is projected to exhibit a CAGR of 7.8% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. Launch of novel implants, increasing trend of petting animals, and increasing awareness among people regarding animal health are expected to support the global veterinary orthopedic implants market growth.

In June 2018, Veterinary Orthopedic Implants, Inc., a veterinary medical device company introduced 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.

Launch of such novel implants in the market is expected to support global veterinary orthopedic implants market growth over the forecast period.

Furthermore, increasing trend of petting animals such as dogs and cats in key region and high obesity rates in dogs and cats is expected to lead to various orthopedic in them.

For instance, according to report by the Pet food Manufacturers Association’s Pet Data Report, 2017, in the U.K., 8.5 million dogs, 8 million cats, 500,000 guinea pigs, and 300,000 horses and ponies were pet owned, with over 29% houses recording two dogs.

According to the Association for Pet Obesity Prevention (APOP), 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016.

Hence, increasing obesity in animals is expected to increase chances of orthopedic diseases in them, which in turn is expected to increase the demand for implants and drive veterinary orthopedic implants market growth.

Browse 31 Market Data Tables and 30 Figures spread through 142 Pages and in-depth TOC on Global Veterinary Orthopedic Implants Market by Implants Type (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, Advanced Locking Plate System (ALPS), and Trauma Fixations (Plates, Screws, Wires, and Others)), by Animal Type (Dogs, Cats, and Others), by End User (Veterinary Hospitals and Veterinary Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2026

To know the latest trends and insights prevalent in the Veterinary Orthopedic Implants market, click the link below:

https://www.coherentmarketinsights.com/market-insight/veterinary-orthopedic-implants-market-2668

Increasing insurance coverage for pets and rising awareness in key regions to maintain pet healthy is expected to support global veterinary orthopedic implants market growth over the forecast period.

For instance, according to North American Pet Health Insurance Association (NAPHIA) reports, in 2015, pet health insurance sector generated premiums of US$ 774 million, which is 17.2% higher than that recorded in 2014. In 2015, 1.6 million pets were insured, which is 12.0% higher than that recorded in 2014

According to the American Pet Products Association (APPA), in 2017, US$ 69.36 billion was spent on pets in the U.S., which is an increment by US$ 40 billion from 2001. The major spending sectors for pet owners are food and vet care, which is US$ 30 billion and US$ 17 billion respectively.

Key Takeaways of the Veterinary Orthopedic Implants Market:

  • The global veterinary orthopedic implants market is expected to exhibit a CAGR of 7.8% during the forecast period (2018 – 2026), owing to launch of novel implants, increasing trend of petting animals, and increasing awareness among people to regarding animal health
  • North America veterinary orthopedic implants market is expected to exhibit significant growth over the forecast period, owing to presence of trained veterinary professionals in the region. According to American Veterinary Medical Foundation (AVMF) statistics, in 2017, over 110,000 veterinary professionals were recorded in the U.S.
  • Low awareness, high price of implants, and low availability of veterinary professionals in some emerging economies such as Africa, India, and China is expected to hinder the global veterinary orthopedic implants market growth over the forecast period.
  • Major 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 Inc., 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

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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