Portland, OR, Jan. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global veterinary orthopedic implants market was estimated at $105,224.6 thousand in 2021 and is expected to hit $161,850.5 thousand by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $105,224.6 Thousand |
| Market Size in 2031 | $161,850.5 Thousand |
| CAGR | 4.4% |
| No. of Pages in Report | 223 |
| Segments Covered | Product Type, Application, End-user, and Region. |
| Drivers | Rise in consumer awareness toward veterinary orthopedic implants |
| Advent of advanced surgical techniques to treat the condition | |
| Restraints | Lack of veterinary infrastructure facilities in underdeveloped nations |
| High cost of veterinary orthopedic implants | |
| Opportunities | Increase in R&D works |
Impact of Covid-19 on Veterinary Orthopedic Implants Market-
- Less visits in veterinary clinics and hospitals due to the risk of Covid-19 infection impacted the global veterinary orthopedic implants market negatively, especially during the initial period.
- Also, decrease in demand for orthopedic implants such as screws and plates worsened the scenario even more.
The global veterinary orthopedic implants market is analyzed across product type, application, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By product type, the plates segment held the largest share in 2021, garnering around three-fifths of the global veterinary orthopedic implants market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 4.7% during the forecast period.
By application, the cruciate ligament rupture segment contributed to more than two-fifths of the global veterinary orthopedic implants market share in 2021, and is projected to rule the roost by 2031. The bone fractures segment, on the other hand, would display the fastest CAGR of 5.9% throughout the forecast period. The elbow dysplasia and hip dysplasia segments are also assessed through the study.
By end-user, the veterinary hospitals segment accounted for the highest share in 2021, generating nearly three-fifths of the global veterinary orthopedic implants market revenue. The veterinary clinics segment, however, would portray the fastest CAGR of 5.2% during the forecast period.
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By region, North America held the major share in 2021, garnering more than half of the global veterinary orthopedic implants market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 6.6% from 2022 to 2031. The other provinces assessed through the report include Europe and LAMEA.
The key market players analyzed in the global veterinary orthopedic implants market report include Narang Medical Limited, B. Braun SE (B.Braun Vet Care), BlueSAO, Orthomed, Integra Lifesciences, Arthrex Vet systems, Johnson and Johnson, Vimian Group, Ortho Max Mfg. Co. Pvt. Ltd., and Auxein Medical. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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