Veterinary Prosthetics & Orthotics Market Size, Share & Trends Analysis Report By Product Type (Prosthetics And Orthotics), By Animal Type (Canine, Feline, Others), By Technique (Molding And 3D Printing) By Region, And Segment Forecasts, 2022 - 2030

Veterinary Prosthetics & Orthotics Market Growth & Trends

The global veterinary prosthetics & orthotics market size is anticipated to reach USD 68.6 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a significant CAGR of 8.9% from 2022 to 2030. Some of the drivers attributing to the market growth include rising pet dog ownership, the number of veterinary surgeries across the globe, initiatives by key companies, and orthopedic disorders in pet dogs. For injured animals, the use of orthoses (braces) and prostheses is becoming more widespread. Any medical device that is fastened to the body to provision, position, immobilize, prevent or correct deformity, help weak muscles, or increase function is referred to as an orthosis. Prosthetics are also medical devices that are used to replace a missing or severed leg section.

The COVID-19 pandemic led to a decrease in revenue for market players in the veterinary prosthetics & orthotics market. This was due to cancellation or delay in elective surgical procedures during 2020. Other challenges faced by key companies included logistical bottlenecks and dampened demand. The market, however, recovered gradually to pre-COVID numbers during 2021. In addition, the COVID-19 pandemic has catalyzed pet ownership according to findings of the Pet Food Manufacturers Association (PFMA), U.K. This is expected to contribute to market growth. The findings of the two surveys conducted in 2020 by the PFMA during the COVID-19 crisis confirmed a surge in pet ownership in the U.K. Around 3.2 million households or 11% of people brought home a pet since the start of the pandemic.

The market is predicted to rise due to factors such as the increased prevalence of obesity and the growing pet population. According to the American Pet Products Association's (APPA) 2019-2020 National Pet Owners Survey, 67% of households, or about 85 million families, in the U.S. have a pet. Furthermore, there has been a large increase in the worldwide animal population, which is expected to push the market studied in the future. According to the Department of Environment, Food and Rural Affairs' Farming Statistics 2018, the U.K. had 9.6 million cattle and calves in 2018. According to data provided by the United States Department of Agriculture, there were approximately 7.9 million cows and calves in Mexico in 2019, up from 7.7 million in 2018.

Other factors expected to fuel market expansion include increased spending on companion animals, increased availability of therapeutic choices for animals, and increased awareness in the region. Expanding adoption of companion animals and increased awareness of animal prostheses in countries like Spain, Germany, and Canada have enormous growth potential during the predicted period.

Veterinary Prosthetics & Orthotics Market Report Highlights

• The veterinary prosthetics & orthotics market was valued at USD 32.3 million in 2021 and is expected to grow at a CAGR of 8.9% during the forecast period
• The rising prevalence and incidence of sports injuries and trauma in pet dogs is one of the key contributing factors to market growth
• The canine segment held the largest share of the market by product type in 2021. The key factors driving market expansion are technological advancements in prostheses and increased adoption rates
• In December 2020, L'il Back Bracer launched a new dog back orthotic called the Haute L'il Back Bracer which drives the market growth
• The technique segment was dominated by 3D printing in 2021 owing to the growing use of 3D printing
• 3D printing represented the largest share of the market in 2021 by technique