According to FutureWise analysis the market for Orthopedic Veterinary Implants in 2023 was US$ 0.29 billion, and is expected to reach US$ 0.47 billion by 2031 at a CAGR of 6.10%.
Orthopedic Veterinary Implants Market is speculated to grow positively during the forecast period. Lack of regulation and FDA approvals thus make the market relatively less governed and booming with opportunities and potential. This has encouraged regional players to foray into the market with new innovations. The swift uptake of less expensive substitutes in the global orthopedic veterinary implants market has had a positive impact on the market.
The rise in the number of pet owners with increasing disposable income is expected to have a direct positive boding on the global orthopedic veterinary implants market. Arthritis is prevalent in dogs and often the treatment involves orthopedic veterinary implants. The rising cases of obesity in pets owing to a sedentary lifestyle and overeating also favours the market’s growth.
North America accounts for major market share in the global orthopedic veterinary implants. In the near future, the Asia Pacific orthopedic veterinary implants are predicted to grow at the highest CAGR.