Veterinary Orthopedics Market to Witness a Strong Growth During 2021– 2028Posted by Ryan Shaw on September 24th, 2021 The global Veterinary Orthopedics Market size is anticipated to reach USD 930.1 million by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 8.3% from 2021 to 2028. The growing pet population, the prevalence of pet obesity and arthritis, which may require orthopedic surgery, are expected to drive the market. Moreover, increasing technological advancements in veterinary devices is another driver expected to contribute to the market growth. According to the American Pet Products Association (APPA), about 84.9 million American homes (67% of U.S. households) owned a pet in 2019. This number is significantly greater than 2017 statistics wherein nearly 60.2 million U.S. households had at least one pet dog. In 2019, Americans spent USD 95.7 billion on pets, which was USD 5.2 billion more than the expenditure in 2018. The rise in the number of pet owners and, subsequently, expenditure on pets, is boosting the animal health industry, including veterinary orthopedics. Owners are concerned about their pets and, hence, the demand for efficient treatment is rising. This trend is expected to continue, thus, fueling market growth during the forecast period. According to Association for Pet Obesity Prevention (APOP), 56% of dogs and 60% of cats were overweight or obese in the U.S., in 2018. Obesity increases pressure on joints and bones. According to APPA, nearly 20.8 million dogs in the U.S. had undergone orthopedic surgeries in 2016. The most common orthopedic surgeries carried out on canines were femoral head osteotomy, bones fracture repair, cruciate ligament repair, and medial patellar luxation. The prevalence of osteoarthritis in animals is increasing because of obesity, which is boosting demand for veterinary orthopedic devices and surgeries. According to Kingsbrook Animal Hospital, 20% of all dogs-regardless of age-in the U.S. had osteoarthritis in 2017. The COVID-19 pandemic significantly impacted the market, as the number of elective surgeries went down due to lockdown and quarantine measures. However, the market is anticipated to be driven by the resumption of elective surgeries. In March 2020, the Harmony Veterinary Center in compliance with government guidelines, suspended all its elective procedures, surgeries, and dentistry services during the COVID-19 outbreak. However, this does not change the underlying need for these procedures and the market is expected to grow significantly as surgeries return to pre-COVID numbers. Related Press Release@ Veterinary Orthopedics Market Report Veterinary Orthopedics Market Report Highlights
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