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The global ortho-pediatric devices market size is estimated to grow by USD 1,661.08 million at a CAGR of 7.76% between 2022 and 2027.
In the upcoming years, soft tissue repair products will become more prevalent in emerging nations in Asia and ROW. There are plenty of opportunities for growth in countries such as China, India, and Brazil within the global orthopedic soft tissue repair devices market. This is due to the markets in these nations being characterized by a significant patent base for target indications, growing health awareness, increasing healthcare expenditure, growing medical tourism, and quickly developing healthcare infrastructure. The rise of medical tourism in nations like India, Singapore, and Malaysia has taken place over the last few decades. This is because medical procedures in these developing nations are much less expensive than in developed nations such as the US, Germany, France, and the UK. Additionally, the factors contributing to the rise of health tourists who travel to those countries for treatment are the availability of good, well-equipped operating rooms and the presence of trained surgeons across Private Hospital Chains.
Technavio has segmented the market into Application, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges.
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Hospitals
The market share growth by the hospitals segment will be significant during the forecast period. The increasing number of public and private specialty hospitals providing orthopedic-related treatments will influence the growth of the hospital segment in this global ortho pediatric devices market during the forecast period. In order to obtain high-quality health products and supplies in bulk, large hospitals have advanced healthcare infrastructure.
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The hospitals segment was valued at USD 1,303.43 million in 2017. Several technological advances and innovations like using external fixator technology and using small extraphysical plates for treating limb deformities are increasing the reliability of ortho pediatric devices, thereby increasing their demand in healthcare facilities. Moreover, the growth of the global orthogeriatric Devices market is expected to be boosted by increased research and development activities.
Trauma and deformities
Trauma and deformity procedures involve placing metal plates and screws outside the bone or long nails inside the canal of the bone, known as flexible and rigid intramedullary nails, for stabilizing fractures. These procedures include osteotomies (surgical bone-cutting) and metal implants to correct angular bone deformities or limb length discrepancies. Innovative products help to improve surgery accuracy, maintain the stability of outcomes, and increase surgeon confidence in achieving high standards of care for patients. The vendors are focused on the expansion of their product portfolio and further diversification into a number of categories of the global orthopedic device market, such as active growing implants for early-onset scoliosis, limb length discrepancies, and other orthopedic trauma and deformity applications. Such technological advances and the expansion of the product portfolio for other applications are likely to drive the growth of this segment during the forecast period. Vendors are focusing on developing and launching innovative products specifically for pediatric patients.
Smart implants
This segment includes smart implants, which are the new generation of adjustable implant systems. Vendors are focusing on the development of new technologies, such as smart orthopedic implants, that can provide real-time feedback to physicians or patients regarding the performance of the implant. It is possible for physicians to identify poor bone growth, infection, and subsidence or dislocation of an implant by using smart orthopedic implants. These surgical implants can be used in the treatment of orthopedic disorders such as knee arthroplasty, hip arthroplasty, spinal fusion, fractures, and joint other orthopedic conditions. The growing R&D activities across the world for smart implants are likely to drive the growth of this segment during the forecast period. Various vendors are investing in the development of smart implants. However, the high potential offered by smart implants in the treatment of orthopedic conditions will propel R&D activities, which will drive the growth of this segment during the forecast period.
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North America is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.
The ortho pediatric devices market in North America will grow at a moderate rate during the forecast period. The growth of this market is underpinned by factors such as a growing incidence of injuries in children, product launches, and government and non-profit organizations' initiatives aimed at creating awareness and providing effective medical therapy and insurance coverage for pediatric patients. The growing number of products offered by key vendors in the region is likely to drive market growth during the forecast period.
The outbreak of COVID-19 in 2020 significantly declined the demand for ortho pediatric devices in North America. However, the lockdowns were lifted in the second half of 2020 owing to large-scale vaccination drives across North America. This led to the resumption of operations in clinics and hospitals that offer orthopedic surgeries and treatment since the first half of 2021, which increased the demand for ortho pediatric devices.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Arthrex Inc. - The company offers ortho pediatric devices namely TightRope implants.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The favorable reimbursement scenario for spinal implants is driving growth in the ortho pediatric devices market. The increased demand for spinal implants ortho pediatrics will be driven by a favorable reimbursement scenario, which will, in turn, drive market growth. Various reforms, such as the Affordable Care Act (Obamacare) in the US healthcare system, provide medical insurance coverage for more people. It enabled the best treatment of spinal implants to be given to patients with back pain.
Countries such as Japan, Australia, and China have structured nationalizing policies for the minimally invasive interventional spine. The Japanese government has also started giving reimbursement coverage for spinal implants. It is estimated that Asia's adoption rates will be driven by a favorable reimbursement scenario, together with an aging population. Therefore, increasing reimbursements in key regions worldwide will drive the growth of the ortho-pediatric devices market during the forecast period.
The global adoption of advanced treatment solutions is a primary trend in the ortho pediatric devices market. Using and adopting in-vitro diagnostics to manage and test for cancer, CVD, and infectious kidney diseases with immunoassay and molecular diagnostic devices are increasing. Increased adoption rates among healthcare professionals are also facilitated by the availability of advanced treatment options.
However, the growing demand for diagnostics requires companies to invest in the provision of tailor-made automation solutions with a view to meeting patients' needs. The adoption of point-of-care testing (POCT) is rising globally due to its efficient workflow process and advantages, such as the ability to be performed at the bedside, portability, and timely and rapid diagnosis. Thus, the increasing adoption of in-vitro diagnostics for improved treatment care will drive the growth rate of the global ortho pediatric devices market during the forecast period.
The high costs associated with orthopedic devices and surgeries are a major challenge faced by the ortho pediatric devices market. In particular, the growth of this market is hindered by higher costs linked to ortho pediatric devices and related procedures. Such expensive orthopedic devices can increase the cost burden on end-users as well as patients. Ortho pediatric equipment is used to diagnose and treat various orthopedic conditions in pediatric patients. The costs of these facilities are dependent on their application and features.
The cost of orthopedic surgery includes the cost of orthopedic devices, procedure charges, consultation fees, medicines, and consumable costs, which contribute to the overall cost of a procedure to the patients. In relation to procedures, the costs of orthopedic surgery are different. In addition, patients' costs may increase as a result of repeat tests. Moreover, the cost of diagnosis can vary depending on the healthcare infrastructure. Therefore, Such factors are expected to limit the global ortho-pediatric devices market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Ortho pediatric Devices Market Customer Landscape
The ortho-pediatric devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Ortho pediatric Devices Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.76% |
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Market growth 2023-2027 |
USD 1,661.08 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.71 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 52% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Apex Ortho and Surgical, Arthrex Inc., Auxein Medical Inc., Johnson and Johnson Services Inc., Madison Ortho, Medtronic Plc, Merete GmbH, Mighty Oak Medical, Narang Medical Ltd., Nuvasive Inc., Orthofix Medical Inc., OrthoPediatrics Corp., Smith and Nephew plc, Stryker Corp., Total Joint Orthopedics Inc., Treace Medical Concepts Inc., Trendlines Group Ltd., TST Tibbi Aletler San. Ve Tic. Ltd. Sti., WishBone Medical Inc., and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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