Ortho veterinary implants market to approach $160M in 5 years
by Katie Pfaff
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The global orthopedic veterinary implants market is forecast to reach $159.9 million by 2026, according to a report by market research firm, Global Industry Analysts Inc. The estimate follows on a 2020 value of $115.5 million for the market; the increase to 2026 is expected at a CAGR of 5.7%. Geographically, the US market accounts for 32.79%of the international market in 2021 and was estimated at a value of $38.9 million in the same year.
Growth is expected as the number of pets increases globally as well as expenditure on pets coupled with an increasing number of orthopedic implants which have gained approval or are seeking regulatory approval. At the same time, animal racing as a sport has also increased across the globe, making the potential for a growing number of orthopedic injuries more likely. The market analysis includes companion and service animals, including cats, dogs, and horses.
Within the overall market, veterinary bone plates are projected to capture a 5.9% CAGR and attain a value of $67.1 million by end of the period, while the pins, wires, and staples segment is forecast to be worth $35 million by the same 2026 timeline. The screws segment was revised to a CAGR of 5.4%.
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