Major players in the veterinary orthopedic implants market are KYON Pharma Inc. , Veterinary Orthopedic Implants Inc. , BioMedtrix, LLC, IMEX Veterinary Inc. , Orthomed (UK) Ltd, Securos Surgical, B. Braun Vet Care, Bluesao and DePuy Synthes Vet.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Orthopedic Implants Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151530/?utm_source=GNW
The global veterinary orthopedic implants market is expected to grow from $0.09 billion in 2020 to $0.1 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.14 billion in 2025 at a CAGR of 9%.
The veterinary orthopedic implants market consists of sales of veterinary orthopedic implants and related services.Veterinary orthopedic implants are used by veterinary surgeons for bone fixation surgeries, treating bone fractures in animals and are usually made of metals like pure commercial titanium (Ti) or titanium alloys, stainless steel, cobalt-chromium (Co-Cr) alloys.
The orthopedic implants are also used as a support structure for healing fractures and reconstructive surgeries. Orthopedic implants include screws, plates, pins and wires which are used in the surgeries performed on animals.
The veterinary orthopaedic implants market covered in this report is segmented by product type into advanced locking plate system, tibial plateau leveling osteotomy implants, tibial tuberosity advancement implants, total elbow replacement, total hip replacement, total knee replacement, trauma fixations. It is also segmented by animal into dog, cat, others and by end-user into veterinary hospitals, veterinary clinics, veterinary surgical centers.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of orthopaedic surgery inhibits the growth of veterinary orthopaedic implants market.The surgery cost includes the equipment, X-ray, and consumables among others, which many of the households cannot afford.
For instance, in the USA, a typical examination of the problem costs around $400 and the cost of orthopaedic surgery ranges from $1,500 to $4,000. Thus, the high cost of orthopaedic surgery restricts the growth of the veterinary orthopaedic market.
In 2019, Infiniti Medical, a USA based designer and distributor of medical devices for the veterinary market, acquired Orthomed Ltd. for an amount undisclosed. Through the acquisition, Infiniti Medical aims to expand its product portfolio by adding products and services from Orthomed. Orthomed Ltd is a UK based provider of orthopedic products and systems in veterinary industry.
The increase in the incidence of obesity and arthritis increases the demand for veterinary orthopedic implants market.Obesity is a condition where the weight of the pet affects the pet’s health to a point where it results in weakening of bones, whereas arthritis in pets results in loss of strength in bones.
Obesity and arthritis may also result in fractures and other bone-joint related issues and both the conditions result in adversely affecting the overall health of the pet, consequently leading to shorten lifespan.Thus, the increase incidents of obesity and arthritis increase the demand for veterinary orthopedic implants.
According to Banfield Pet Hospital’s report on 2.5 million dogs and 500,000 cats treated in the USA, the number of osteoarthritis (OA) cases increased 66% in dogs and 150% in cats. The report also inferred that 52% of dogs and 41% of cats with OA are also overweight or obese. Thus, the increase in health conditions affecting the bones of pets such as obesity and arthritis positively affect the growth of the veterinary orthopedic market.
The companies in veterinary orthopaedic implants market are investing in 3D printing technique for creating veterinary orthopaedic implants. 3D printing in veterinary orthopaedics market is being used for creating printed bone models, surgical guides and titanium implants. The use of 3D printing reduces the surgical time, cost and removes the engineering complexities in orthopaedic procedures. Following the trend, many dogs with bone deformities have been treated by Langford Veterinary Services, a UK based provider of veterinary services, through its collaboration with CBM. The collaboration enabled CBM to create 3D printed models of animal implants using titanium Ti6AI4V EL material. The MRI or CT scans are sent from Langford Veterinary Services in Bristol to CBM who then produces 3D printed models using Arcam EBM Q10plus machine. CBM is a U.K based company focused on advanced research, product development, and batch manufacturing facility. Thus, the use of 3D printing is one of the latest trends in veterinary orthopaedic implants market and will contribute to the growth of the market.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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