Veterinary Orthopedic Implants Market is Estimated to Witness High Growth Owing to Rising Incidences of Bone Fractures in Companion Animals

Veterinary Orthopedic Implants Market


 Veterinary orthopedic implants are medical devices used by veterinarians to repair fractures and stabilize bone structure. These implants include bone plates, screws, rods and pins made of stainless steel and titanium alloys. Growing pet care awareness in terms of dietary supplements, insurance and routine checkups has led to increasing demand for orthopedic procedures and associated devices for pets. According to recent studies, around 85% of smaller breed dogs and 76% of cats above 1 year of age suffer from chronic joint pain which is a key driver for demand of these implants.

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 Opportunity:
Rising incidences of bone fractures in companion animals represents a major market opportunity. With increasing longevity of pets due to better healthcare and nutrition, the risks of fractures, especially in ageing pets that are more active and heavier, is expected to increase substantially. As per the American Veterinary Medical Association, around 25% of dogs are obese and overweight which increases chances of skeletal issues. Moreover, growing pet insurance penetration is encouraging owners to opt for surgical intervention rather than alternatives like cage rest in case of bone injury. This is positively impacting the uptake of veterinary orthopedic implants over the forecast period. Novel product launches including 3D printed personalized implants catering to various fracture patterns and sizes of companion animals will further support the market growth.

Porter’s Analysis
Threat of new entrants: The veterinary orthopedic implants market requires considerable investments in R&D for innovation and compliance with strict veterinary medical device regulations which poses a barrier to entry for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate since there are established global key players dominating the market and providing quality orthopedic implants at competitive prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate since there are many suppliers of raw materials and components required for manufacturing orthopedic implants.

Threat of new substitutes: There is a low threat from new substitutes since orthopedic implants provide effective treatment compared to other alternatives and veterinarians are familiar with implant procedures.

Competitive rivalry: The market is highly competitive due to presence of global key players.

SWOT Analysis

Strengths: Growing pet population and pet care expenditure are driving demand for effective surgical procedures using implants. Advanced biomaterials and 3D printing technologies enable customized implants.

Weaknesses: High costs associated with implant procedures can limit their accessibility. Requirement of specialized surgical skills by veterinarians for implantation.

Opportunities: Untapped potential in developing regions will provide growth opportunities. Development of bioabsorbable implants that do not require removal post healing.

Threats: Stringent regulatory approvals and manufacturing standards increase compliance costs. Post-surgery complications can impact brand image.

Key Takeaways

Global Veterinary Orthopedic Implants Market Size is expected to witness high growth over the forecast period driven by rising animal adoption, increasing spending on pet care and advancement of implant technologies.

Regional analysis: North America dominates the global market with the highest number of pet owners and expenditures on veterinary care in countries like the United States. Growth is anticipated to be fastest in Asia Pacific region with rising pet adoption and increasing awareness about pet health in large economies of China and India.

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. The major global players are focusing on new product launches and geographical expansion to solidify their presence. 

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