The global veterinary orthopedics market is experiencing a significant upswing, the market is projected to reach US$ 618.2 Million by 2022, with projections indicating a valuation of US$ 1.5 billion by 2032. This impressive growth trajectory is fueled by a rising demand for advanced veterinary healthcare solutions worldwide.
Surge in Demand for Advanced Veterinary Care:
A recent market analysis reveals a remarkable compound annual growth rate (CAGR) of approximately 9.4% anticipated for the veterinary orthopedics market between 2022 and 2032. This growth is attributed to several key factors, including:
- Increased Focus on Animal Welfare: Pet owners are placing greater emphasis on their companions’ well-being, driving demand for sophisticated veterinary treatments.
- Technological Advancements: Breakthroughs in veterinary orthopedic procedures, the integration of regenerative medicine, and advancements in diagnostic tools are propelling the market forward.
- Growing Prevalence of Orthopedic Conditions in Animals: Factors like obesity and participation in pet sports can contribute to a rise in orthopedic issues among animals.
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Commitment to Better Animal Care:
“The expanding Veterinary Orthopedics market reflects not only the evolving veterinary landscape but also a commitment to ensuring a better quality of life for animals,” says a spokesperson from Future Market Insights. This sentiment underscores the growing awareness surrounding animal healthcare and the increasing adoption of pets.
Additional Growth Drivers:
Other key drivers influencing market growth include:
- A surge in pet insurance coverage, making specialized treatments more accessible.
- Strategic collaborations within the veterinary industry.
- An unwavering emphasis on delivering effective and compassionate care to animals.
The dynamic nature of the Veterinary Orthopedics market, fueled by innovation and a dedication to animal well-being, paints an optimistic picture for the future of animal healthcare.
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Key Companies Profiled:
- B. Braun Melsungen AG
- Veterinary Orthopedic Implants
- Kyon AG
- STERIS
- Integra LifeSciences Corporation
- Ortho Max Manufacturing Company Pvt. Ltd.
- BioMedtrix, LLC
- Surgical Holdings Veterinary
- GerVetUSA
Market Segments Covered In Veterinary Orthopedics Industry Analysis:
By Product Type:
- Instrument
- Implants
By Application:
- Total Knee Replacement
- Total Hip Replacement
- Total Elbow Replacement
- Trauma Fixation
- TPLO
- TTA
- Lateral Fixation
- Other Applications
By End-Use:
- Hospitals & Clinics
- Other End-uses
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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