According to FutureWise analysis, the Orthopedic Veterinary Implants market in 2023 was US$0.29 billion, and is expected to reach US$0.47 billion by 2031 at a CAGR of 6.10%. The Orthopedic Veterinary Implants market is witnessing significant growth, primarily driven by the increasing incidence of orthopedic conditions in companion animals. The rising popularity of minimally invasive surgical techniques, along with advancements in biocompatible implant materials, is a crucial element contributing to this market expansion. Currently, North America holds a leading position in the Orthopedic Veterinary Implants market, followed by Europe and the Asia-Pacific regions. The market growth is driven by the increasing number of bone fractures and joint disorders in companion animals, along with a rise in pet ownership and expenditures on advanced veterinary care. Additionally, advancements in implant materials and designs, along with the growing adoption of minimally invasive surgical procedures in veterinary orthopedics, are further boosting demand.
Orthopedic Veterinary Implants Market is speculated to grow positively during the forecast period. The lack of regulation and FDA approvals makes the market relatively less governed, booming with opportunities and potential. This has encouraged regional players to foray into the market with innovations. The swift uptake of less expensive substitutes in the global orthopedic veterinary implants market has had a positive impact.
Advanced Manufacturing Technologies: Rita Leibinger GmbH has developed a patient-specific 3D-printed titanium implant called the 3D HIP shelf implant. It is designed for the treatment of canine hip dysplasia, highlighting advancements in biocompatible materials and customization capabilities.
The rise in the number of pet owners with increasing disposable income is expected to have a direct positive impact 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 favour the market’s growth.
North America accounts for ma ajor 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.