Global Veterinary Joint Replacement Implants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Veterinary Joint Replacement Implants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Joint replacement is a surgical procedure in which parts of an arthritic or damaged joint are removed and replaced with a metal, plastic, or ceramic device called a prosthesis. This kind of prosthesis is called veterinary joint replacement implants, which can help animals resume normal and healthy exercise.

Market Overview:

The latest research study on the global Veterinary Joint Replacement Implants market finds that the global Veterinary Joint Replacement Implants market reached a value of USD 13.86 million in 2022. It’s expected that the market will achieve USD 18.84 million by 2028, exhibiting a CAGR of 5.25% during the forecast period.

Growth Drivers

Pet industry is developing well. With the change of modern lifestyle, more and more people choose to buy pets to accompany them. In 2020, the United States spent $103.6 billion on pets, of which about $42 billion was spent on pet food and snacks; $22.1 billion for supplies, living animals and over-the-counter drugs; $31.4 billion for veterinary care and products; And $8.1 billion in other pet-related services. It is estimated that US$ 109.6 billion will be spent on pets in 2021. The healthy development of the whole pet industry brings opportunities to the veterinary joint replacement implants industry.

In addition, due to the increasing trend of companion animals, the number of veterinary hospitals is also increasing. With the further expansion of the market, veterinary hospitals are equipped with more up-to-date equipment and skilled veterinarians, encouraging animal owners to visit these medical institutions. In addition, the larger veterinary hospitals have enough funds to obtain the latest technology, which can shorten the operation time and make the operation process painless for small animals. These factors contributed to the popularity of veterinary hospitals. This also promotes the increasing rate of pet visits, and indirectly promotes the development of veterinary joint replacement implants industry.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

BioMedtrix is one of the major players operating in the Veterinary Joint Replacement Implants market, holding a share of 31.65% in 2021.

BioMedtrix was founded in 1989 with the objective of designing, developing, and manufacturing state-of-the-art veterinary orthopedic implants. BioMedtrix continuing mission is to provide quality in all aspects of product development, manufacturing, and customer service.

INNOPLANT Medizintechnik develops and manufactures veterinary implant systems for total hip replacement, TTA surgery, total knee replacement and DPO/TPO in dogs.

Segmentation Overview:

Among different product types, Hip Replacement segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Dog segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Veterinary Joint Replacement Implants market covered in Chapter 3:

Bluesao
INNOPLANT Medizintechnik
KYON
BioMedtrix
B. Braun Vet Care

In Chapter 4 and Chapter 14.2, on the basis of types, the Veterinary Joint Replacement Implants market from 2018 to 2029 is primarily split into:

Knee Replacement
Hip Replacement
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Veterinary Joint Replacement Implants market from 2018 to 2029 covers:

Dog
Cat
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)