Veterinary ortho to reach nearly $170M by 2027
by Katie Pfaff
Market analyst firm, Reportlinker.com, projects the global orthopedic implants in veterinary market will reach $169.9 million by 2027. The increase is from an estimated $5 million value in 2020, and growth at a CAGR of 5.7%.
Orthopedic implants for veterinary use will reach a value of $115 million in 2027 from a value of $37.9 million in 2020. At the time, the US made up 32.8% of market value worldwide. Leading the growth will be bone plates (5.9% CAGR to garner $67.1 million), screws (5.4% CAGR revised due to the pandemic). Orthopedic screws make up about a quarter (25.6%) of the entire worldwide veterinary orthopedic implants market.
At the same time, fixation methods like pins, wires, staples, and segment corners account for less than a quarter. The market share reached 21.4% in 2020. However, the segment is expected to grow by a CAGR of 6% based on increased in North America, Japan, China, and Europe, reaching a combined forecasted value of $27.5 million in 2027. The combined market was estimated at $18.3 million in 2020.
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