Veterinary Orthopedics Market Size, Share & Trends Analysis Report By Application (TPLO, TTA), By Animal Type (Canine, Feline), By Product (Implants, Instruments), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Orthopedics Market Size & Trends

The global veterinary orthopedics market size was estimated at USD 568.80 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.46% from 2024 to 2030. Some of the key factors accounting for market growth include increasing pet expenditure, orthopedic diseases in pets, technological advancements, initiatives by key companies, and uptake of pet insurance.As per a study published in April 2023 in the International Journal of Molecular Sciences, hybrid implants with silver nanoparticle layer fabricated via the sol-gel technology and a dip coating application technique increased the functionality of commercially available implant materials for veterinary application.

The growing trend of pet humanization and increasing spending on pet healthcare have led to a rise in the number of orthopedic procedures for animals. Pet owners are more willing to invest in surgical interventions to enhance the quality of life for their pets. The willingness to spend on pet surgery is further supported by the increasing pet insurance coverage as it lessens the financial burden on pet parents. MetLife Pet Insurance, for instance, offers accident coverage almost as soon as the pet is enrolled in the insurance policy. Moreover, several orthopedic conditions (e.g. hip & elbow dysplasia, fractures, tendon or ligament injuries, patella luxation, and osteoarthritis) are covered if the illness is not pre-existing or if there is a policy exclusion and depending on the selected policy coverage.

The COVID-19 pandemic led to a slowdown in the market due to movement restrictions, reduced veterinary visits, and delayed or canceled elective veterinary orthopedic surgeries. In March 2020, Harmony Veterinary Center in Colorado U.S. for instance, suspended all veterinary elective procedures.The surgery volume across the globe recovered gradually as lockdown protocols were eased in several countries and many public health bodies released guidelines to support the resumption of veterinary surgeries.For instance, the Seven Hills Veterinary Hospital updated its protocols effective June 2021 and reported an increase in the volume of appointments/telephone calls/urgent care and emergency services including surgeries.

Market Concentration & Characteristics

Market growth stage is medium while the pace of market growth is accelerating. Moreover, the market is characterized by medium to high degree of innovation with about medium threat of product substitutes. The market is also characterized by a notable number of merger & acquisition activities and has a low to medium impact of regulations. Market dynamics vary across regions, influenced by factors such as the level of pet adoption, veterinary infrastructure, and economic conditions.

Advancements in veterinary medicine, including orthopedic procedures, contribute to market expansion.The market encompasses a wide range of orthopedic implants, including plates, screws, pins, joint implants, and others. Manufacturers develop specialized products for different types of animals, considering variations in size and anatomy. Ongoing technological developments in materials and design contribute to the improvement of implant quality and efficacy. This is expected to contribute to the market growth in the coming years.

According to Banfield Pet Hospital’s 2020 report on Veterinary Emerging Topics, pet obesity in the U.S. has become an epidemic. of the 1.9 million adult dogs examined at the hospital, 51% were reported to be overweight. Banfield Pet Hospital has observed this upward trend in pet obesity since 2007. The hospital reports that every 1 out of 3 cats and dogs were overweight. Obesity leads to comorbid conditions, such as osteoarthritis, which often require surgical interventions. For instance, as per the same source, arthritis/DJD, ligament/tendon conditions, and hip/pelvis conditions were the most common osteoarthritis conditions affecting dogs and cats. This is estimated to propel the need for orthopedic surgeries in pets.

The rising trend of pet ownership, especially in developed regions, boosts the demand for veterinary orthopedic procedures, implants, and instruments. Pet owners are increasingly willing to invest in advanced medical treatments for their animals.The growth of specialized veterinary clinics and hospitals, equipped with advanced diagnostic and surgical facilities, also positively impact the demand for orthopedic implants and instruments.These facilities are better equipped to handle complex orthopedic procedures.

End-use Insights

By End Use, veterinary hospitals & clinics segment led the market in 2023 with a largest revenue share of 90.01%. Others segment comprising veterinary research centers and academic institutes is estimated to grow at the fastest CAGR in the forecast period. Veterinary hospitals and clinics serve as centralized facilities for comprehensive veterinary care. These establishments are equipped with the necessary infrastructure and expertise to handle a wide range of veterinary medical interventions.

Hospitals and clinics also report the largest footfall of patients making these a preferred choice of care for pet parents. Furthermore, the growing need to increase clinic revenue is expected to propel the segment in the near future. By expanding service lines to include orthopedic surgeries, clinics can access new revenue streams, increasing weekly revenue by about USD 40,000 to 80,000, as estimated by Vimian.

Regional Insights

North America dominated the market with a revenue share of 53% in 2023. This can be attributed to the presence of key companies, high expenditure on pets & penetration of pet insurance, and rising awareness about orthopedic diseases. For instance, as per North American Pet Health Insurance Association (NAPHIA), about 3.8 million dogs and 0.9 million cats were insured in 2022. This number is anticipated to witness the lucrative market growth during the forecast period.

Asia Pacific region is anticipated to grow the fastest CAGR at a rate of about 9.54% in the forecast period. As economies in the Asia Pacific region continue to grow, there has been a corresponding increase in disposable income and a shift towards urban lifestyles. This has led to a rise in pet ownership, including dogs and cats.Awareness regarding pet health and the availability of advanced veterinary treatments, including orthopedic surgeries, has been increasing in the Asia Pacific region thus contributing to the regional growth. As pet owners become more informed about the options for treating orthopedic conditions in animals, it is expected to propel demand for orthopedic implants and instruments.

Application Insights

By application, the TPLO segment dominated the market with a share of about 29% in 2023. TPLO is one of the most commonly performed orthopedic procedures in dogs and contributes to the high share of the segment. It is also associated with favorable surgical outcomes, including reduced postoperative complications and improved long-term joint stability. In 2022, Vimian, a key market player launched a new range of TPLO/knee joint plates, thus expanding the company’s product portfolio and contributing to the segment share.

The other applications segment comprising corrective osteotomies, tightrope, and tibial tuberosity transposition is projected to grow at the fastest CAGR of 9.14% over the forecast period. Securos Surgical (part of AmerisourceBergen) offers a range of orthopedic implants and instruments for osteotomies and tibial tuberosity transposition. The growing availability of products and emergence of new orthopedic procedures is expected to fuel the segment growth from 2024 to 2030.

Product Insights

In terms of products, the implants segment led the market in 2023 with the largest revenue share of 55.19%. Ongoing advancements in veterinary medicine, including surgical techniques and implant technologies, drive the adoption of implants. Improved surgical procedures and more advanced implant materials enhance outcomes, encouraging veterinarians & pet owners to opt for orthopedic solutions. Vimian implants, for instance, are HyProtect coated, which facilitates reduction of infection risk for 90 days post-surgery.

Furthermore, advancement in 3D implant technology and availability of such products is expected to continue fueling the segment growth over the forecast period.In December 2022, Movora- Vimian's MedTech segment reported the completion of the first successful surgeries with 3D-printed orthopedic implants. The company is a pioneer in bringing 3D printing to the veterinary field and prints hip, ankle, and elbow titanium alloy implants for companion animals.

Animal Type Insights

By animal type, canine segment led the market in 2023 with the largest revenue share of 71.48%. Dogs are among the most popular pets globally, and the trend of pet ownership, particularly of dogs, has been on the rise. As per American Veterinary Medical Association (AVMA) & internal GVR estimates, dog population in the U.S. was estimated as 92.5 million in 2023. By 2030, this number is projected to cross 110 million. Moreover, larger breeds are prone to orthopedic issues such as hip dysplasia and joint problems, thus contributing to a higher demand for orthopedic implants.

Feline segment is projected to register the fastest CAGR during 2024 to 2030 owing to increasing prevalence of orthopedic disorders, prevalence of risk factors such as obesity, and improving diagnostic rates. According to the Association for Pet Obesity Prevention, an estimated 61% of cats and 59% of dogs were estimated to be overweight/obese in 2022. This indicates a notable pet population at risk of developing orthopedic disorders including patellar luxation, arthritis, and joint degeneration.

Key Companies & Market Share Insights

The market is significantly competitive due to the presence of several small and large companies. These market players offer a wide portfolio of orthopedic implants and instruments spanning across target species and segments. Furthermore, market players implement various strategic initiatives, such as mergers & acquisitions, regional expansion, partnerships & collaborations, to support their growth objectives. The market is also witnessing consolidation driven by a key company-Vimian. On the other hand, multinational companies such as B. Braun Melsungen AG and Johnson & Johnson have significant resources, facilities, and expertise in both human and veterinary sectors. This contributes to a notable share of these players in the market.

Recent Developments

• In June 2023, Vimian acquired New Generation Devices to expand its offerings in veterinary orthopedic implants

• In December 2022, Vimian’s Movora announced the successful completion of one of the first orthopedic surgeries with 3D-printed implants in dogs and horses

• In October 2021, Vimian entered the Canadian veterinary medical devices market by launching full-service offerings in orthopedic implants in Canada

Veterinary Orthopedics Market Report Scope

Global Veterinary Orthopedics Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global Veterinary Orthopedics market report based on application, animal type, product, end-use and region.

• Application Outlook (Revenue in USD Million, 2018 - 2030)

  • TPLO

  • TTA

  • Joint Replacement

  • Trauma

  • Other Applications

• Product Outlook (Revenue in USD Million, 2018 - 2030)

  • Implants

  • Plates

    • TPLO Plates

    • TTA Plates

    • Specialty Plates

    • Trauma Plates

    • Other Plates

  • Other Implants

  • Instruments

• Animal Type Outlook (Revenue in USD Million; 2018 - 2030)

  • Canine

  • Feline

  • Other Animals

• End Use Outlook (Revenue in USD Million; 2018 - 2030)

  • Veterinary Hospitals & Clinics

  • Other End-use

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

  • U.S.

  • Canada

  • Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Denmark

  • Norway

  • Sweden

  • Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Latin America

  • Brazil

  • Mexico

  • Middle East & Africa

  • South Africa

  • Saudi Arabia