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 Overview:

Veterinary orthopedic implants are medical devices that are implanted during orthopedic surgeries to replace or repair damaged or broken bones in pets. Some common veterinary orthopedic implants include plates, pins, rods, wires, screws, and prostheses. These implants help in reshaping the bone, stabilizing fractures, supporting joint replacements, and restoring mobility to injured joints and limbs. The increasing incidence of orthopedic injuries in pets due to accidents and age-related degeneration has been fueling the demand for effective veterinary orthopedic implants.

Market key trends:

One of the key trends in the veterinary orthopedic implants market is the introduction of 3D printed and customized implants. 3D printing enables creating patient-specific implants that perfectly match the anatomy of the pet. This improves implant placement accuracy and reduces the risks of stress shielding and implant loosening. Moreover, advancements in materials used for fabricating implants are also gaining traction. Implants made from titanium and its alloys are gaining popularity owing to their high biocompatibility and corrosion resistance. Researchers are also exploring the use of artificial bone composites and biodegradable polymers for making implants that can degrade and get replaced by natural bone over time. Advancements in design and materials are expected to offer more effective and longer-lasting implants solutions.

Porter’s Analysis:

• Threat of new entrants: Veterinary orthopedic implants require high capital investments and long research and development cycles. Regulatory compliance is also stringent.
• Bargaining power of buyers: Presence of many suppliers provides options to buyers but specialized nature of products limits impact of individual buyers.
• Bargaining power of suppliers: Raw material suppliers have limited influence due to availability of substitutes and fragmented nature of industry.
• Threat of new substitutes: Limited product substitutes exist for orthopedic implants. Innovation helps maintain brand loyalty.
• Competitive rivalry: Industry fragmented with many global and regional players. Price competition exists due to lack of differentiation.

Key Takeaways:

The Global Veterinary Orthopedic Implants Market Demand is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing pet adoption and rising owners’ willingness to spend on veterinary care.

Regional analysis: North America dominates the global market due to high pet care expenditures and supportive regulations. Asia Pacific is expected to witness fastest growth owing to increasing pet humanization, rising disposable incomes and growth in veterinary healthcare infrastructure.

Key players operating in the Veterinary Orthopedic Implants 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.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it