Animal Ortho-Prosthetics Market: Introduction
- Animal orthopedic prosthetic is an artificial device that helps to replace lost or missing body parts due to a disease, trauma, or congenital conditions. The type of orthopedic prostheses needed by the animal is decided according to the personal functional needs and appearance.
- The main objective of animal ortho-prosthetics is to provide comfort, reduce pain, support injury, and correct shape of a particular body part. These products help in aiding rehabilitation from disjunction, fractures, or any other serious accidental injuries.
Key Drivers and Restraints of Global Animal Ortho-Prosthetics Market
- Demand for products and services for companion animals, rising pet ownership, long life expectation for companion animals, increased number of medical treatment options for companion animals, and advancements in animal health medicines are anticipated to increase expenditure on companion animals
- According to the Canadian Institute for Health Information, health care expenditure in the U.S. has increased from US$ 23 Bn in 1988 to an estimated US$ 51 Bn in 2011. Veterinary care accounted for around 25% of this expenditure, including vaccines and medicines, while 20% of the expenditure was incurred on OTC products and supplies, with the remainder on accessories, food, etc. This trend is being reflected in other countries too, and is projected to drive the global animal ortho-prosthetics market during the forecast period.
- Increased longevity of pet animals due to improvements in diagnostics, emphasis on wellness and prevention by veterinarians, and enhanced nutrition has expanded the use of veterinary services, including animal ortho-prosthetics. Pet ownership is growing in developed and emerging markets, and as a result, expenditure on companion animals is rising globally.
- The animal ortho-prosthetics market is technology driven. Introduction of new technologies in the market increases the demand for ortho-prosthetics products due to their improved efficiency and outcomes. However, high pricing of these new products limits the market growth, especially in developing regions.
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Prosthetics Segment to Lead Global Market
- The global animal ortho-prosthetics market can be segmented based on product type, animal type, and end-user
- Based on product type, the global animal ortho-prosthetics market can be divided into braces, prosthetics, and others. The prosthetics segment is expected to witness significant growth during the forecast period due to increasing adoption and affordability of prosthetics. The introduction of technologically advanced products, such as custom-made orthotic braces and pelvic & thoracic prosthetics, which cater to an animal’s individual needs, is expected to drive the global ortho-prosthetics market during the forecast period.
- In terms of animal type, the global animal ortho-prosthetics market can be classified into companion animals and livestock animals. Based on end-user, the market can be categorized into veterinary hospitals & clinics, rehabilitation centers, and veterinary prosthetic clinics.
North America to Lead Global Animal Ortho-Prosthetics Market
- The global animal ortho-prosthetics market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a significant market for animal ortho-prosthetics due to substantial focus on animal health care and high adoption of veterinary products. There are several key players in the region, which further boosts the market in the region.
- High adoption of veterinary products for the well-being of rapidly growing livestock animal population in the region makes it one of the most lucrative markets for animal ortho-prosthetics
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Key Players Operating in Global Animal Ortho-Prosthetics Market
Leading players in the global animal ortho-prosthetics market are:
- Animal Ortho Care
- Appletree Orthotic Services Ltd
- B. Braun Vet Care GmbH
- GPC Medical Ltd
- MWI Veterinary Supply Co.
Global Animal Ortho-Prosthetics Market: Research Scope
Global Animal Ortho-Prosthetics Market, by Product Type
Global Animal Ortho-Prosthetics Market, by Animal Type
- Companion Animals
- Livestock Animals
Global Animal Ortho-Prosthetics Market, by End-user
- Veterinary Hospitals & Clinics
- Rehabilitation Centers
- Veterinary Prosthetic Clinics
Global Animal Ortho-Prosthetics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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