Market Size of Global Animal Ortho-Prosthetics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Animal Ortho-Prosthetics Market Analysis
The animal ortho-prosthetics market is projected to register a CAGR of 7.1% during the forecast period.
The COVID-19 pandemic significantly impacted the studied market. The pandemic influenced the pet animals' eating habits, level of exercise, and weight, increasing obesity among the pet population. According to findings from a recent poll by Hill's Pet Nutrition and Kelton Global in June 2021, the number of overweight pets and pet obesity has been on the rise for years pre-pandemic, but COVID-19 exacerbated the issue. As per the survey results, more than 71% of pet professionals, including veterinarians, claimed that the pandemic changed how pets eat. Such instances show that COVID-19 has aggravated the obesity problem by causing behavioral changes among pet animals. As obesity most often contributes to soft tissue damage and osteoarthritis, this trend increased pet obesity management options to curb pet obesity in the upcoming years. Hence, an upsurge in demand for ortho-prosthetics for animals was seen during the pandemic period. Thus, the pandemic considerably impacted the studied market growth and is anticipated to continue its strong hold over the forecast period.
Factors such as technological advancements, the growing number of companion animals, and the increasing prevalence of obesity in pets are expected to propel market growth.
As per the 2022 report published by the PDSA organization, when a survey was conducted among pet owners in the United Kingdom, 60% of pet owners confirmed that they grove some form of human foods to their pets, such as leftovers (26%), cheese (22%) and bread or toast (10%). Most human food is high in fats and sugar, which can contribute to obesity and can potentially lead to an unbalanced diet for pet animals. Similarly, according to an article published in the Veterinary Sciences Journal in May 2022, the prevalence of obesity among cats and dogs was 59.5% and 55.8%, respectively, in the United States. Thus, the increasing obesity in pets is expected to drive market growth.
Furthermore, as per an article published in JACI in July 2022, the prevalence of early-life cat and dog ownership ranged from 12% to 45% and 7% to 47%, respectively. Thus, the increasing rate of ownership of pet animals is expected to accelerate market growth. According to Waldorf Emergency Care data updated in 2022, pets can break their bones for any number of reasons, such as falls, auto accidents, or even fights with other animals. Fractures, both open and closed, are anticipated to fuel the demand for orthotics and prosthetics products for fracture management for animals. Thereby driving the market growth.
Moreover, a significant rise in the adoption of pet animals, including dogs, cats, and even horses, as companions of human beings, has been observed over recent years. The developed economies represent a substantially large share of companion animal ownership, owing to the promising economic condition. For example, the PFMA 2022 update reported that in the year 2021, 17 million (59% of) households in the United Kingdom owned a pet. This high volume of pet owners is more concerned and aware of the safety of their pets. This ultimately creates demand for the availability of animal ortho-prosthetic products available in the market. This is expected to contribute to the overall market growth.
Therefore, the rising adoption and increasing population of animals coupled with obesity among pet animals are expected to contribute to market growth. However, lack of awareness and the high cost of the products is hindering the growth of the market studied.
