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Global Veterinary Orthopaedic Implants Market to Reach USD 143 Million by 2026, Aided by the Rising Pet Ownership

According to a new report by EMR titled, ‘Global Veterinary orthopaedic implants Market Report and Forecast 2021-2026’, the global market for veterinary orthopaedic implants reached a value of USD 95 million in 2020. The market is further expected to grow at a CAGR of 7% in the forecast period of 2021-2026 to attain a value of USD 143 million by 2026.

The global market of veterinary orthopaedic implants is significantly aided by the increasing number of pet owners across the globe, as well as the increased awareness and spending on animal welfare. The increasing disposable income of pet owners, rapid urbanisation and the rising penetration of veterinary clinics are further catalysing the market growth. The market is further expected to grow with technological advancements and innovations in the industry. The recent coronavirus pandemic has also challenged the global industry of veterinary orthopaedic implants, with severe market conditions and supply chain disruptions. However, with reducing lockdowns and economies turning back to normal, the veterinary orthopaedic implants industry is likely to grow during the forecast period.

The growing mergers and acquisitions in the industry are expected to enhance the industry growth. In May 2020, Fidelio Capital announced its acquisition of Veterinary Orthopedic Implants, which will be its third acquisition in the veterinary orthopaedic business, having previously acquired BioMedtrix and KYON. These acquisitions are expected to expand the product portfolio of the group, along with enhancing its R&D capabilities. Such developments are expected to encourage innovation within the industry and further propel the market growth.

Market Breakup by Type, Application, End Use, and Region:

  • On the basis of type, the market is segmented into plates (compression plates, L-plates, T-plates, arthrodesis plates, acetabulum plates, bending iron, and others), screws, jigs, pins and wires, and others.
  • By applications, the market is divided into knee replacements, hip replacements, elbow replacement, trauma fixation, and others.
  • The market is segmented on the basis of end uses as veterinary hospitals, veterinary clinics, and others.
  • Region-wise, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for veterinary orthopaedic implants is being aided by the significant increase in numbers of pet owners.
  • The rapid urbanisation and industrialisation, along with enhancing healthcare infrastructure, are also facilitating the market growth.
  • The increasing research and development in the veterinary orthopaedic implants industry is also expected to further catalyse the market growth.
  • The increasing innovations in the industry is expected to further propel the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for veterinary orthopaedic implants for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the type, applications, end uses, and major regions of veterinary orthopaedic implants.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global veterinary orthopaedic implants market include B. Braun Vet Care GmbH, Everost Inc, BioMedtrix LLC, Veterinary Orthopedic Implants Inc., and Kyon AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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