(MENAFN- America News Hour) Research Nester published a report titled
“Veterinary Orthotics-Prosthetics Market: Global Demand Analysis & Opportunity Outlook 2033”
which delivers detailed overview of the global veterinary orthotics-prosthetics market in terms of market segmentation by product type, animal type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global veterinary orthotics-prosthetics market to grow with a CAGR of ~10% over the forecast period, i.e., 2022 – 2033. The market is segmented by animal type into canine, feline, and others. Amongst these, the canine segment is anticipated to grow at the highest rate during the forecast period backed by the increasing spending on pets, owners concern to provide best healthcare medication to their pets, and global upsurge in pet ownership.
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The global veterinary orthotics-prosthetics market is projected to extensively grow owing to the rise in pet adoption, followed by the spiking count of livestock as cumulative number of livestock needs good healthcare, and medical treatment. Besides this, obesity problems in animals, and globally escalating pet insurance are some of the major factors anticipated to drive the growth of the market in the forecast period.
Geographically, the global veterinary orthotics-prosthetics market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is estimated to witness significant growth over the forecast period owing to the upsurge in the use of veterinary goods, escalating pet adoption, rising availability to animal treatment methods, and increasing disposable income in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Worldwide Escalation in Pet Adoption to Drive the Market Growth
It is observed that the number of households owning pets is expected to reach 17.6 million by the end of 2022.
Pet adoption is quickly becoming the preferred method for getting a new pet. A pet brings happiness and calmness of mind and even help us to overcome from anxiety. By adoption, an owner provides a happy and healthy life to the concerned animal. Since the early stages of the pandemic, there has been a surge in global interest in pet adoption. Now pet owners are more proactive for their pet's good health and fitness. If a pet meets an accident or get injured, then there are several veterinary orthotics-prosthetics products that help them to remain active and bear weight quickly. In this way the rising count of pet adoption is fueling up the global veterinary orthotics-prosthetics market growth.
However, deficit of skilled veterinary personnel, shortage of support from government and NGOs, and deficit of alertness regarding the availability of veterinary orthotics-prosthetics are expected to operate as key restraint to the growth of the global veterinary orthotics-prosthetics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global veterinary orthotics-prosthetics market which includes company profiling of Movora, B. Braun Vet Care GmbH, Handicappedpets, Inc., Anchor Orthotics & Prosthetics, Animal Ortho Care (AOC), K-9 Orthotics & Prosthetics Inc., OrthoPets LLC., Doggon Wheels, J.G. McGinness Prosthetics & Orthotics, Inc., Petsthetics LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global veterinary orthotics-prosthetics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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