PUBLISHER: Grand View Research | PRODUCT CODE: 1405856
PUBLISHER: Grand View Research | PRODUCT CODE: 1405856
The global veterinary orthopedic medicines market size is anticipated to reach USD 6.37 billion by 2030, registering a CAGR of 8.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing emergence of regenerative medicine and rise in the adoption of viscosupplementation products in veterinary medicine are the major factors contributing to market growth. According to a study conducted by Boehringer Ingelheim and the American Animal Hospital Association (AAHA), in 2022, 1 in 5 dogs i.e., 20% of all dogs experience some joint issue in their lifetime. The majority of animals suffer from Osteoarthritis (OA) because of Developmental Orthopedic Diseases (DODs), with certain breeds more prone to malformed joints than others.
The aim of regenerative medicine in veterinary medicine is to restore normal function to diseased or damaged cells, tissues, etc., including different approaches like cell-based therapies. The use of mesenchymal stromal cells (MSCs), platelet-rich plasma (PRP) & autologous serum products is prominent in this field. Currently, these therapies are used in tendon, ligament, and joint/cartilage treatment in animals like dogs, horses & cats. These treatments are primarily research-based and further concrete clinical reports are under progress. Irrespective of the current use, this branch of veterinary medicine promises effective treatment & management of veterinary diseases.
Current regenerative therapies like MSCs, PRP, etc., fall under the category of drugs. Therefore, FDS regulates them under the category "Cell-based Products"; however, no FDA approval has been given to any of these therapies till now, and the current use falls under FDA investigational exemption. Degenerative Joint Diseases (DJD) and OA cause a rise in friction in the joints. Viscosupplements, such as hyaluronic acid, are intra-articularly injected into the synovial joint of the animal, which further lubricates the joint to reduce friction and assist in smooth movement. Such initiatives are expected to help in the effective management of veterinary orthopedic conditions, thus driving market growth.