(MENAFN- PR Newswire)
NEW YORK, Aug. 9, 2024 /PRNewswire/ -- The global ortho pediatric devices market
size is estimated to grow by USD 1.85 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
8.09%
during the forecast period. Increasing incidence of pediatric orthopedic injuries
is driving market growth,
with a trend towards
global adoption of advanced treatment solutions. However,
high costs associated with orthopedic devices and surgeries
poses a challenge. Key market players include 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, WishBone Medical Inc., and Zimmer Biomet Holdings Inc..
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Technavio has announced its latest market research report titled Global ortho pediatric devices market 2024-2028
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| Ortho Pediatric Devices Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
| Market growth 2024-2028 |
USD 1859.8 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
7.32 |
| Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
| Performing market contribution |
North America at 58% |
| Key countries |
US, Germany, UK, Canada, and China |
| 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, WishBone Medical Inc., and Zimmer Biomet Holdings Inc. |
Market Driver
The ortho pediatric devices market is experiencing significant growth due to the increasing adoption of in-vitro diagnostic devices for managing and testing various conditions, including cancer, cardiovascular diseases, and infectious kidney diseases. Advanced treatment care availability is driving increased adoption rates among healthcare providers. For instance, Siemens' Xprecia Stride Coagulation Analyzer is a handheld device that offers high accuracy in PT/INR tests. The market for specialty testing is projected to outpace routine diagnostic testing, leading laboratories to prefer bulk purchases from trusted partners. Companies focus on customized automation solutions, such as Siemens' Atellica Solution, which offers more than 300 customizable configurations for diagnosing diseases. Additionally, the adoption of point-of-care testing (POCT) is rising due to its efficient workflow process, portability, and timely and rapid diagnosis. These factors collectively contribute to the growth of the global ortho pediatric devices market during the forecast period.
The Ortho Pediatric Devices market is experiencing significant growth due to the increasing prevalence of orthopedic conditions in children, including periprosthetic fractures, scoliosis, congenital deformities, and skeletal deformities. Advanced surgical techniques, such as 3D printing technology for custom-made implants, are gaining popularity in medical settings. Surgeons are using plates, screws, and oral devices for oral repair and extra-oral devices for jaw growth and bite issues. Smart implants, spine devices, and sports medicine equipment are also trending. Patient-centric healthcare is driving the demand for personalized solutions, from oral devices like mouthguards and headgear to rehabilitation equipment in hospitals and clinics. Trauma and deformities, arthritis, and elective surgeries for conditions like cerebral palsy, Down syndrome, and autism spectrum disorder are common indications.
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Market
Challenges
The cost of orthopedic devices and related procedures for orthopedic conditions in pediatric patients is a significant barrier to market growth for
ortho pediatric devices. These expensive devices add to the financial burden for both end-users and patients. Orthopedic equipment costs vary depending on their applications and features. For example, pedicle screw implants cost between USD900 and USD1,000 per screw. Orthopedic surgery expenses include device costs, procedure charges, consultation fees, medications, and consumables. Hip replacement surgery is more expensive than elbow ligament suturing, with an average inpatient cost of USD25,000-USD30,000 and outpatient costs ranging from USD15,000 to USD20,000. Orthopedic surgeon consultation fees are between USD100 and USD500. Post-surgery, patients may require repeated diagnostic tests, such as CT or X-ray scans, which can further increase costs. CT scan costs vary depending on the procedure, with an average of USD750-USD1,300 per orthopedic procedure. The cost of diagnosis can also fluctuate based on healthcare infrastructure. These factors are anticipated to restrict the expansion of the global ortho pediatric devices market during the forecast period.
The Orthopaedic Pediatric Devices market faces unique challenges in catering to the specific needs of pediatric patients with orthopedic disorders. Orthopaedic oncology services and trauma surgery require specialized devices for treating bones and joints in youngsters. Specialized hospitals and orthopedic hospitals play a crucial role in providing advanced care for missing bones, cartilage damage, fractures, spinal conditions, sclerosis, and abnormalities. Manufacturers must address the challenges of creating pediatric orthopedic implants suitable for young patients, including those with shattered bones and bone deformities or dislocations. Rising bone abnormalities due to malnutrition, congenital abnormalities, and oral and extra-oral repair devices demand comfort, ease of use, and effective limb motions. Early diagnosis and physical therapy are essential for successful treatment, necessitating devices for swelling and inflammation reduction.
Arthroplasty devices for hips and knees must ensure minimal deep vein thrombosis and surgical site infections risks, while implant failures and cement complications require continuous innovation. Overall, the market requires devices that cater to the unique needs of pediatric patients, ensuring comfort, mobility, and effective treatment for various orthopedic disorders.
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Segment Overview
This ortho pediatric devices market report extensively covers market segmentation by
Application
1.1 Hospitals
1.2 Clinics
1.3 Others
Product
2.1 Trauma and deformities
2.2 Smart implants
2.3 Spine
2.4 Sports medicine
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1 Hospitals-
The global ortho pediatric devices market is expected to expand due to the rising number of hospitals, particularly specialty ones, offering orthopedic treatments. These hospitals, equipped with advanced medical infrastructure, purchase high-quality devices and consumables in large quantities. The increasing prevalence of orthopedic disorders among children and associated risk factors will fuel hospital segment growth. Technological innovations, such as external fixators and small extraphyseal plates for treating limb deformities, enhance the reliability of ortho pediatric devices, boosting demand. Additionally, factors like increasing hospital admissions, the use of minimally invasive therapies, and the availability of certified healthcare professionals will contribute to market growth. Furthermore, R&D activities and healthcare infrastructure expansion are anticipated to bolster market expansion.
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Learn and explore more about Technavio's in-depth research reports
The global Orthopedic Implants market is experiencing robust growth, driven by the rising prevalence of orthopedic disorders and advancements in implant technology. The market is segmented by product type, including knee, hip, and spinal implants, and by end-user, such as hospitals and orthopedic clinics. North America and Europe dominate the market due to the high adoption of advanced medical technologies. Key players like Zimmer Biomet, Stryker, and DePuy Synthes are leading innovation, focusing on minimally invasive procedures and biocompatible materials to enhance patient outcomes.
Research Analysis
The Ortho Pediatric Devices Market caters to the unique needs of children with orthopedic conditions, encompassing trauma and deformities, spine issues, sports medicine, and more. Smart implants, incorporating advanced technology, are revolutionizing pediatric orthopedic care. Devices for knee osteoarthritis and arthritis, braces, splints, and pediatric orthopedic implants address bones and joint concerns. Missing bones, cartilage damage, fractures, spinal conditions like scoliosis and scoliosis, and congenital deformities are common indications. Surgical techniques, including 3D printing technology, enable custom-made implants and prosthetics tailored to individual patients. Surgeons utilize these tools to improve patient-centric healthcare, addressing various orthopedic conditions, from fractures to complex spinal abnormalities. Hospitals and clinics remain key providers of these essential services.
Market Research Overview
The Ortho Pediatric Devices Market caters to the unique needs of young patients with orthopedic conditions, encompassing trauma and deformities, spine, sports medicine, and more. Smart implants, braces, splints, casts, and oral devices are among the solutions offered. Pediatric patients with cerebral palsy, Down syndrome, autism spectrum disorder, and other congenital abnormalities, as well as those requiring elective surgery or orthopedic oncology services, benefit from these devices. Bones and joints, including missing bones, cartilage, and fractures, are common concerns. Spinal conditions such as scoliosis and scoliosis abnormalities, as well as abnormalities resulting from shattered bones, are addressed through surgical implants and specialized hospitals. Early diagnosis, physical therapy, arthroplasty, and surgical techniques are essential components of care. Innovations like 3D printing technology and custom-made implants and prosthetics cater to patient-centric healthcare. Surgeons utilize plates, screws, oral devices, extra-oral devices, oral repair devices, and orthodontic conditions to address bite issues and jaw growth. Comfort, walking, limb motions, swelling, inflammation, and preventing complications like deep vein thrombosis and surgical site infections are key considerations.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Product
Trauma And Deformities
Smart Implants
Spine
Sports Medicine
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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