Global Veterinary Orthopedic Implants Market to Surpass US$ 457.6 Million by 2026 – Coherent Market Insights

SEATTLE--(BUSINESS WIRE)-- According to Coherent Market Insights, the global veterinary orthopedic implants market was valued at US$ 250.9 million in 2018, and is projected to exhibit a CAGR of 7.8% over the forecast period (2018–2026).

Key Trends and Analysis of the Veterinary Orthopedic Implants Market:

Frequent launch of novel implants by key players in the market is expected to support the global veterinary orthopedic implants market over the forecast period. For instance, In June 2018, Veterinary Orthopedic Implants, Inc., a veterinary medical device company introduced its new the Elite TPLO plate. This ideal locking TPLO plate is anatomically contoured to match the proximal tibial surface. New Elite TPLO plate is available in different sizes including: 1.5, 2.0, 2.4, 2.7, 3.5S, 3.5, 3.5B, and 3.5 JUMBO.

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Furthermore, increasing trend of petting an animal in key regions and high prevalence of orthopedic problems in them is expected increase the demand for its orthopedic implants and significantly support global veterinary orthopedic implants market growth. For instance, according to the National Pet Owners Survey conducted by the American Pet Products Association (APPA) in 2017-2018, over 85 million or 60- 80% of the U.S. families own a pet.

According to the Association for Pet Obesity Prevention, 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016, which may lead to some type of orthopedic disease in them.

Moreover, key players in the market are involved in strategic partnership and collaborations, in order to expand its presence in large geographic area. For instance, in January 2019, BioMedtrix partnered with Laboratorios Macrimasa-Vet as an exclusive distributor of the Universal Hip (including Micro & Nano Hip), TPLO Curve and I-Loc IM Fixator in Spain. Laboratorios Macrimasa-Vet will provide sales and service to existing BioMedtrix accounts as well as pursue and support new customers.

Such strategic partnership by key players to expand access of its products in large areas is expected to increase availability of veterinary orthopedic implants, globally.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/veterinary-orthopedic-implants-market-2668

Key Market Takeaways:

• The market is expected to exhibit a CAGR of 7.8% during the forecast period (2018–2026). This growth is attributed to launch of novel implants, increasing trend of petting animals, and rise in orthopedic disease in them.
• Low presence of veterinary clinics and hospitals in some rural areas in emerging economies such as Africa, India and China is expected to be a major restraining factor for growth of the global veterinary orthopedic implants market
• North America veterinary orthopedic implants market is expected to exhibit significant growth over the forecast period, owing to presence of trained veterinary professionals in the region. According to American Veterinary Medical Foundation (AVMF) statistics, in 2017, over 110,000 veterinary professionals were recorded in the U.S.
• Veterinary medical devices are not as stringy regulated as medical devices used for human. Pre-market approval is not required and U.S. Food and Drug Administration (FDA) does not require submission of a 510(k), PMA or any pre-market approval for devices used in veterinary medicine
• Some of the major players operating in the global veterinary orthopedic implants market include Kyon Pharma, Inc., Veterinary Orthopaedics., Narang Medical Limited, BioMedtrix, LLC, Orthomed (UK) Ltd, DePuy Synthes (a subsidiary of Johnson & Johnson), Veterinary Instrumentation, Ltd., Veterinary Orthopedic Implants, Medicatechvet, Microsurgery Instruments, Inc., B. Braun Melsungen AG, Königsee Implantate GmbH, Everost Inc., Integra LifeSciences, Intrauma S.p.A., Ortho Max Manufacturing Company Pvt. Ltd., and RITA LEIBINGER MEDICAL GmbH & Co. KG

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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