The global animal health care market continues to grow at a rapid pace. It is driven in developed countries by improved diagnostic and medical capabilities for companion animals. Demand for medicines, vaccines, medical devices, and related products and services for companion and domestic animals, rising pet ownership, longer life expectation for companion animals, increased number of medical treatment options for animals, and advancement in animal health medicines and vaccines are anticipated to increase expenditure on veterinary orthopedic implants in the near future. According to the Canadian Institute for Health Information, health care expenditure in the U.S. has increased from US$ 23 Bn in 1988 to US$ 51 Bn in 2011. Around 25% of this expenditure was on veterinary care, including vaccines and medicines, while 20% on OTC products and supplies, with the remainder on accessories and food, etc. This trend is being reflected in other countries too, and is projected to drive the global veterinary orthopedic implants market during the forecast period. Increased longevity of pet animals due to improvement in diagnostics, greater emphasis on wellness of pet animals by veterinarians, and enhanced nutrition has expanded the use of veterinary diagnostic and surgical services and products. Pet ownership is increasing in developed and emerging countries, and as a result, expenditure on companion animals is rising globally. Improvement in health care infrastructure, government campaigns, and increase in per capita income have raised awareness among veterinarians and general population regarding the importance of preventive care and sophisticated diagnostic and surgical tools in veterinary. Pet owners are becoming more conscious about proper and timely diagnosis of health conditions of their pets. Such rise in awareness among the population of both developed as well as developing nations is expected to drive the global veterinary orthopedic implants market in the next few years.
The global veterinary orthopedic implants market can be classified on the basis of product type, end-user, and region. On the basis of product type, the market can be divided into plates, screws, jigs, pins & wires, and others. The plates segment can be sub-divided into compression plates, L-plates, T-plates, arthrodesis plates, acetabulum plates, bending iron, and others. Based on end-user, the market can be segmented into veterinary hospitals and veterinary clinics. In terms of region, the global veterinary orthopedic implants market can be categorized into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounts for the dominant share of the global veterinary orthopedic implants market owing to high adoption of veterinary products in the region. North America is also a domicile to many key players, such as, DePuy Synthes (J&J) which further boosts the veterinary orthopedic implants market in this region. In North America, there is a significant population of companion animals, such as, cats and dogs, which has been increasing continuously. Demand for medicines, vaccines, medical and surgical devices, and feed additives is generated mostly from the companion animal segment. Asia Pacific is one of the fastest developing economies in the world. Growing per capita income of the region has increased consumption of animal products, and consequently of livestock production. This, in turn, is fueling the growth of the veterinary orthopedic implants market in the region. Moreover, growing awareness about the well-being of companion as well as livestock animals and rising expenditure on the same are driving the veterinary orthopedic implants market in Asia Pacific. Brazil is one of the five prominent veterinary orthopedic implants markets in the world. The veterinary market in the country has shown sustained growth, mainly due to increase in export of veterinary products as Brazil is a major production center for multinationals, surge in sanitary inspection and criteria required for commercialization, internally or externally, and rise in awareness of livestock farmers about the importance of maintaining healthy herd, with efficient and regular health check-up programs.
Major players operating in the global veterinary orthopedic implants market include DePuy Synthes, MWI Veterinary Supply Co., Rita Leibinger GmbH & Co. KG, GPC Medical Ltd., and B. Braun Vet Care GmbH.
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