The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Veterinary Orthopedic Medicine Global Market Report 2024, the veterinary orthopedic medicine market is expected to show promising growth in the forecast period.

The veterinary orthopedic medicine market has seen significant growth in recent years and is poised for further expansion. Here’s an overview of the market trends, drivers, and future projections.

Market Growth and Projections

• Current Market Size: The market reached $3.38 billion in 2023.
• 2024 Forecast: Expected to grow to $3.69 billion, with a compound annual growth rate (CAGR) of 9.0%.
• Future Outlook: Anticipated to expand to $5.26 billion by 2028, reflecting a CAGR of 9.3%.

Key Growth Drivers:

• Regenerative Medicine: Innovations in regenerative treatments are enhancing therapeutic options.
• Telemedicine Integration: The adoption of telemedicine is improving access to veterinary care.
• Specialist Growth: An increasing number of veterinary orthopedic specialists is boosting market growth.
• Visco-supplementation Adoption: The rising use of visco-supplementation products is supporting market expansion.
• Animal Health Awareness: Greater awareness about pet health is driving demand.

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Factors Influencing Market Expansion
Rising Incidence of Pet Orthopedic Diseases

• Disease Prevalence: Conditions like osteoarthritis are increasingly common in pets, with significant impacts on their quality of life.
• Contributing Factors: Breed predispositions, obesity, and environmental factors such as poor diet and exercise contribute to rising disease rates.
• Market Impact: Increased prevalence drives demand for veterinary orthopedic treatments to manage pain and restore mobility.

Advancements in Orthopedic Care

• Innovative Solutions: Companies are developing anatomically shaped casts designed to enhance comfort and healing for pets.
• Example: In November 2021, OrthoPets Veterinary launched biodegradable anatomically shaped casts, improving care standards by reducing pressure sores and offering better support for fractures.

Major Players and Acquisitions
Leading Companies

• Key Market Players: AmerisourceBergen Corporation, Johnson & Johnson, Zoetis Inc., Elanco Animal Health, Integra Lifesciences, and others.
• Recent Developments: In December 2021, Movora acquired IMEX Veterinary Inc., expanding its portfolio in veterinary orthopedic products.

Market Segmentation

• By Product: Biologics, viscosupplements, Pharmaceuticals.
• By Animal Type: Canine, Feline, Equine, Cattle, Swine, Other.
• By Application: Osteoarthritis, Degenerative Joint Disease, Joint Inflammation or Pain, Other.
• By End-use: Veterinary Hospitals, Veterinary Clinics, Other End Users.

Regional Insights

• North America: Dominated the market in 2023, with strong growth expected to continue in the region.

Conclusion
The veterinary orthopedic medicine market is set for robust growth driven by advancements in treatment technologies, rising disease prevalence, and increasing pet ownership. With a focus on innovation and an expanding range of products and services, the market presents significant opportunities for growth and development in the coming years.

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