U.S. Veterinary Orthopedic Medicine Market Size, Share & Growth Analysis Report, 2030

 U.S. Veterinary Orthopedic Medicine Market Growth & Trends

The U.S. veterinary orthopedic medicine market size is expected to reach USD 814.51 million by 2030, registering a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing pet population, adoption of pet insurance, rising prevalence of diseases among animals, and advancements in veterinary medicine.

For instance, in October 2023, the FDA approved Librela (bedinvetmab injection), making it the first monoclonal antibody for treating osteoarthritis-related pain in dogs. In addition, in April 2022, American Regent Animal Health, a division of American Regent, Inc., received FDA approval to extend the shelf life of Adequan Canine and Adequan i.m. The expiration date for both products was increased from 24 months to 36 months from the date of manufacture.

Key players in the veterinary orthopedic medicine market are engaging in strategic initiatives like product launches, collaborations, and acquisitions to make their market presence more prominent, impelling market growth. In September 2022, Zoetis acquired Jurox, a private animal health company specializing in veterinary medicines for livestock and companion animals. The deal, finalized in August 2021, included Jurox's operations in Australia and regional offices in the U.S., Canada, and the UK. Such initiatives are anticipated to drive market growth.

For instance, in October 2023, Athersys, Inc. (ATHX), a cell therapy and regenerative medicine company, entered into a licensing agreement with Ardent Animal Health. With this move, Athersys, known for its work with MultiStem (invimestrocel) in critical care, entered the field of animal health. This collaboration with Ardent, a veterinary biotech firm specializing in regenerative medicine and cancer therapies for animals, highlights Athersys’ commitment to advancing veterinary care.    

Some key impacts of the pandemic and respective lockdowns on the market include dampened growth, decreased sales, supply chain disruptions, and operational challenges. However, the pandemic also propelled concerns over animal health and welfare, strengthened the pet parent and animal bond, and increased pet adoption. Moreover, the market witnessed an improved medicalization rate, pet expenditure, and adoption of pet insurance.

Increasing pet humanization and improved diagnostic rates were other positive impacts of the COVID-19 pandemic on the veterinary sector. In 2021, the market recorded increased demand and sale of veterinary medicines, including orthopedic medicines. In 2022, other macroeconomic uncertainties, such as global recession and cost inflation, adversely impacted the business. However, as the underlying market drivers remain unchanged owing to an increasing prevalence of orthopedic disorders in dogs and horses, the market is estimated to grow notably over the forecast period.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/us-veterinary-orthopedic-medicine-market-report

U.S. Veterinary Orthopedic Medicine Market Report Highlights

  • Based on product, pharmaceuticals segment dominated the market, accounting for a share of 46.72% in 2023. Pharmaceutical treatments for orthopedic diseases in pets, such as Non-steroidal Anti-inflammatory Drugs (NSAIDs) and pain relievers, have been widely used and established as effective treatments for managing pain and inflammation. On the other hand, the viscosupplements segment is anticipated to grow at the fastest CAGR of 8.23% during the forecast period
  • Based on animal type, the market is segmented into dogs and horses. The dogs segment dominated the market, accounting for a share of 51.98% in 2023. It is also anticipated to grow at the fastest CAGR of 7.80% in the coming decade
  • Based on application, the osteoarthritis segment accounted for the largest share of 60.65% of the market in 2023. The other segment is expected to grow at the fastest CAGR of 9.39% over the forecast period
  • Based on route of administration, the market is segmented into injectable, oral, and others (e.g., topical). The injectable segment dominated the market, accounting for a share of 60.40% in 2023. The others (e.g., topical) segment is anticipated to grow at the fastest CAGR of 8.22% in the coming decade
  • On the basis of end-use, veterinary clinics & hospitals segment accounted for the largest share of 53.59% of the market in 2023. The other segment is expected to grow at the fastest CAGR of 8.68% over the forecast period

U.S. Veterinary Orthopedic Medicine Market Segmentation

Grand View Research has segmented the U.S. veterinary orthopedic medicine market based on product, animal type, application, route of administration, and end-use:

U.S. Veterinary Orthopedic Medicine Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Biologics
    • Stem Cells
    • Platelet-Rich Plasma (PRP)
    • Other Biologics
  • Viscosupplements
  • Pharmaceuticals
    • Steroids
    • NSAIDS
    • Others

U.S. Veterinary Orthopedic Medicine Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Dogs
    • Small Breeds
    • Medium Breeds
    • Large Breeds
  • Horses

U.S. Veterinary Orthopedic Medicine Application Outlook (Revenue, USD Million; 2018 - 2030)

  • Osteoarthritis
  • Degenerative Joint Disease
  • Others

U.S. Veterinary Orthopedic Medicine Route Of Administration Outlook (Revenue, USD Million, 2018 - 2030)

  • Injectable
    • Intra-Muscular
    • Intra-Articular
    • Others
  • Oral
  • Others

U.S. Veterinary Orthopedic Medicine End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Hospitals & Clinics
  • At-home
  • Others

List of Key Players in the U.S. Veterinary Orthopedic Medicine Market

  • Zoetis Services LLC
  • Ardent Animal Health, LLC
  • Enso Discoveries
  • VetStem, Inc.
  • Contura Vet
  • PetVivo Holdings, Inc.
  • T-Cyte Therepeutics
  • Boehringer Ingelheim International GmbH
  • Arthrex, Inc.
  • MEDREGO LLC
  • Nucleus ProVets
  • Daiichi Sankyo Company, Limited 
  • Bimeda U.S.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/us-veterinary-orthopedic-medicine-market-report



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