PUBLISHER: Grand View Research | PRODUCT CODE: 1529834
PUBLISHER: Grand View Research | PRODUCT CODE: 1529834
The global veterinary orthobiologics market size is expected to reach USD 1.24 billion by 2030, registering a CAGR of 8.82% from 2024 to 2030, according to a new report by Grand View Research, Inc. Two crucial factors driving the market growth are the increasing number of clinical trials in orthobiologics and the rising prevalence of orthopedic complications in animals. The industry has experienced a steady rise in clinical trials for novel orthobiologics in treating veterinary orthopedic complications in recent years. For instance, in June 2024, the U.S. FDA approved initiating stem cell clinical trials for dogs & horses. This trial will be conducted by Cornell University Hospital for Animals (CUHA). It will explore the effectiveness of stem cells in treating neurological and musculoskeletal complications in canine & equine species. The study will extract the participants' allogenic adipose or bone marrow-derived mesenchymal stem cells and use them to treat nerve, muscle, and other conditions.
The data gathered from this study will help develop clinical evidence-based products in veterinary regenerative medicine. Furthermore, Cell Therapy Tools initiated another clinical trial in June 2024. In the pre-clinical studies, the company's product, Chrondroshield, the participants' dogs responded well to the therapy, showing improvements in OA without side effects. This latest clinical trial phase aims to recruit more canine participants for further testing. This product uses cytokine and growth factors inside the dog's platelets to trigger a healing response in the affected area and assist in cartilage repair. These ongoing advancements showcase the market's ever-evolving nature, with many growth opportunities. Studies like these help create novel products for treating orthopedic conditions with a thoroughly scrutinized base of evidence, providing the market with substantial growth prospects.
In addition, throughout the globe, orthopedic conditions are becoming increasingly common in animals. For instance, according to a 2024 Plos One published study, multiple researchers collaborated to initiate a "Dog Aging Project" to map out and understand disease patterns in dogs throughout their lives. The project determined that the prevalence of orthopedic conditions, if left untreated, increases as the age of the dogs progresses, i.e., prevalence at age 1 - 1% and prevalence at age 11 & above - 39%. The dogs with higher weight, i.e., more than 30 kgs, were determined to have a higher prevalence of orthopedic conditions (23%), thus establishing a correlation between obesity and orthopedic diseases. Furthermore, according to a 2023 publication in NCBI, the prevalence of Osteoarthritis (OA) in cats was estimated at around 60%. Those diagnosed with OA were reported to be suffering from associated conditions, such as joint pain, joint deformity, lameness, etc. These symptoms were determined to be on the higher side in overweight cats. All these factors collectively point toward the need for appropriate orthobiologics like stem cells, platelet-rich plasma (PRP), and monoclonal antibody (mAb) to treat this rise in orthopedic complications in animals.