As per the current market research conducted by the CMI Team, the North America Veterinary Orthopedic Implants Market size is expected to record a CAGR of 4.7% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 77.7 Million. By 2032, the valuation is anticipated to reach USD 117.9 Million.

North America Veterinary Orthopedic Implants Market: Growth Factors and Dynamics

  • Increasing Pet Ownership Rates: The North America Veterinary Orthopedic Implants market is experiencing growth due to the rising trend of pet ownership in the region. As more individuals consider pets as integral family members, the demand for veterinary orthopedic implants, including joint replacements and fracture fixation devices, has significantly increased.
  • Advancements in Veterinary Medicine: Ongoing advancements in veterinary medicine, particularly in orthopedic procedures and implant technologies, are driving the growth of the market. Innovations such as 3D printing, minimally invasive surgeries, and bioabsorbable implants are contributing to improved treatment outcomes and driving the adoption of orthopedic implants in veterinary practices.
  • Ageing Pet Population: Similar to the human population, the pet population in North America is ageing, leading to an increased incidence of orthopedic conditions such as arthritis and fractures. This demographic shift is bolstering the demand for veterinary orthopedic implants as older pets require more specialized care, including orthopedic interventions to maintain their quality of life.
  • Surge in Sports and Working Animals: The use of animals in various sports and working capacities, such as police dogs, service animals, and competitive animals, has risen. These animals are prone to musculoskeletal injuries, necessitating the use of orthopedic implants for effective treatment and rehabilitation. This trend is further propelling the market growth in North America.
  • Technological Advancements and Research: Ongoing research and development in veterinary orthopedics have led to the introduction of more advanced and efficient implant materials and designs. These technological advancements contribute to better surgical outcomes, reduced recovery times, and increased overall patient satisfaction, thereby boosting the market growth.
  • Insurance Coverage for Veterinary Care: The increasing availability and acceptance of pet insurance coverage in North America play a role in the growth of the veterinary orthopedic implants market. With more pet owners opting for insurance plans that cover orthopedic surgeries and related procedures, the financial barrier to seeking advanced veterinary orthopedic care is lowered, fostering market expansion.

North America Veterinary Orthopedic Implants Market: Partnership and Acquisitions

  • In 2020, BioMedtrix, a veterinary orthopedic implant manufacturer, was acquired by Fidelio Capital. As a financially robust majority owner experienced in animal health investments, Fidelio’s involvement promises to provide both BioMedtrix and KYON (another player in the sector) with increased resources and valuable expertise.
  • In 2020, DePuy Synthes has extended its partnership with the AO Foundation for another five years. This collaboration will focus on providing professional education and developing innovations aimed at enhancing patient outcomes and improving the overall efficiency of care delivery.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 77.7 Million
Projected Market Size in 2032 USD 117.9 Million
Market Size in 2022 USD 74.7 Million
CAGR Growth Rate 4.7% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Product, End User, Animal and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

North America Veterinary Orthopedic Implants Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the North America Veterinary Orthopedic Implants Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Disruption in Supply Chains: The pandemic led to disruptions in global supply chains, impacting the availability of raw materials and components required for the manufacturing of veterinary orthopedic implants. This, in turn, affected the production and distribution of these products in the North American market.
  • Reduced Veterinary Visits: Lockdowns, social distancing measures, and economic uncertainties during the pandemic led to a decline in veterinary visits for non-essential procedures. Pet owners postponed elective surgeries and non-urgent orthopedic interventions, resulting in a temporary downturn in the demand for veterinary orthopedic implants.
  • Financial Strain on Pet Owners: Economic challenges faced by individuals during the pandemic influenced their spending behavior, impacting the willingness and ability of pet owners to invest in costly veterinary procedures. This financial strain contributed to a decrease in the overall demand for veterinary orthopedic implants.
  • Rapid Adoption of Telemedicine: The veterinary industry embraced telemedicine and virtual consultations during the pandemic. This not only helped in providing continued care for animals but also facilitated discussions between veterinarians and pet owners about the necessity of orthopedic interventions. As restrictions ease, a hybrid model of in-person and virtual consultations may continue, ensuring broader accessibility and client engagement.
  • Pent-up Demand for Delayed Procedures: With the easing of restrictions and the reopening of economies, there is likely to be a surge in demand for delayed veterinary procedures, including orthopedic surgeries. As pet owners become more comfortable with the idea of seeking medical care for their animals, the market is expected to rebound with a backlog of postponed orthopedic interventions.
  • Focus on Research and Development: Companies in the veterinary orthopedic implants sector are likely to intensify their research and development efforts to introduce more advanced and cost-effective solutions. Innovations in implant materials, designs, and surgical techniques could stimulate renewed interest among veterinarians and pet owners, driving market growth.
  • Promotion of Preventive Care: Veterinary practices may emphasize preventive care strategies to address orthopedic issues before they escalate, encouraging routine check-ups and early intervention. This proactive approach not only supports the overall health of animals but also ensures a steady demand for orthopedic implants as part of preventive veterinary medicine.

In conclusion, the COVID-19 pandemic has had a mixed impact on the North America Veterinary Orthopedic Implants Market, with some challenges and opportunities arising from the pandemic.

North America Veterinary Orthopedic Implants Market 2023–2032 (By Million)

List of the prominent players in the North America Veterinary Orthopedic Implants Market:

  • DePuy Synthes Vet
  • Braun Vet Care
  • Veterinary Orthopedic Implants Inc.
  • BioMedtrix LLC
  • IMEX Veterinary Inc.
  • KYON Veterinary Surgical Products
  • Securos Surgical
  • Ortho Max Manufacturing Company
  • MWI Animal Health
  • Everost Inc.
  • Intrauma S.p.A.
  • Jorgensen Laboratories
  • Integra LifeSciences Corporation
  • IMV Technologies
  • Arthrex Inc.
  • Others

The North America Veterinary Orthopedic Implants Market is segmented as follows:

By Product

  • Tibial Plateau Levelling Osteotomy
  • Advanced Locking Plate System
  • Total Knee Replacement Implants
  • Others

By End User

  • Hospitals
  • Clinics
  • Others

By Animal

  • Dogs
  • Cats
  • Pigs
  • Sheep
  • Horse
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America