Global Veterinary Orthopedic Implants Market, by Drug Class (Antipsychotics, Antidepressants, Mood Stabilizers, and Anti-anxiety Drugs and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 296.5 Million in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increase in the number of adoption of pets and the increasing number of injuries is expected to drive market growth over the forecast period. For instance, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), seventy percent of U.S. households, or about 90.5 million families, own a pet, and the average accident and illness premium for dogs was US$ 583 a year or US$ 49 a month.
Global Veterinary Orthopedic Implants Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a minor negative impact on the global veterinary orthopedic implants market. For instance, the lockdown led to the disruption of manufacturing and transporting essentials that are required for animals. Furthermore, there is a shortage of animal care staff and availability of the medical care during the COVID-19 period.
Global Bipolar Disorder Treatment Market: Key Developments
In January 2019, OrthoMed, Inc., home of Veterinary Orthopaedics, announced the launch of medium-sized MMP OrthoFoam wedges to facilitate surgical orthopedic procedures.
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Veterinary Orthopedic Implants Market”- Forecast to 2030, Global Bipolar Disorder Treatment Market, by Product and Services (Software, (On-Premises, Web-Based) and Services, (Support & Maintenance, Training & Consulting)), by Infection Type (Surgical Site Infections, Blood Stream Infections, Urinary Tract Infections) by End User (Hospitals, Clinics, Ambulatory Surgical Center, Other (Specialty Center, etc.), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/veterinary-orthopedic-implants-market-2668
Key Takeaways of the Global Veterinary Orthopedic Implants Market:
- The global veterinary orthopedic implants market is expected to exhibit a CAGR of 5.9% during the forecast period due to the increasing prevalence of obesity which is expected to drive the growth of the global veterinary orthopedic implants market over the forecast period. For instance, the obesity epidemic is also affecting pets in developing nations, with 44% of all canines in China being classified as obese.
- Among product type, the tibial plateau leveling osteotomy implants segment is estimated to fastest growing in the global veterinary orthopedic implants market over the forecast period. For instance, in August 2022, according to the article published in the National Center for Biotechnology Information, a study was performed for the long-term outcome of tibial plateau leveling osteotomy using an antimicrobial silver-based coated plate in dogs, in which, tibial plateau leveling osteotomy (TPLO) provided a reliable fixation system for osteotomy healing and the plate did not reduce Surgical site infection (SSI) in this study.
- Among region, Asia Pacific is expected to register the fastest growth over the forecast period due to factors such as an increase in spending on pets, the humanization of pets, and the presence of market players. For instance, in Japan, pets, especially cats and dogs, have a longer lifespan, making them more prone to knee/hip or elbow/shoulder disorders related to old age and trauma. This is expected to contribute to the growth of the market.
- Major players operating in the global veterinary orthopedic implants market include 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.
