Pediatric Orthopedic Implants Market worth $8.5 Billion by 2030 – Exclusive Report by The Insight Partners
Global pediatric orthopedic implants market is growing at a CAGR of 10.5% from 2022 to 2030.
Pune, India, Sept. 22, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Pediatric Orthopedic Implants Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Hip Implants, Spine Implants, Knee Implants, Dental Implants, Craniomaxillofacial Implants, and Others), Application (Trauma and Deformities, Broken Bones, Bone and Joint Infections, Spinal Deformities, and Others), End User (Hospitals, Pediatric Clinics, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America),” the pediatric orthopedic implants market size is expected to reach $8.50 billion by 2030 from $3.81 billion in 2022; it is estimated to record a CAGR of 10.5% from 2022 to 2030.
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Use of Resorbable Implants and Increasing Access to Pediatric Orthopedic Treatment to Fuel Market Growth:
An increase in awareness regarding technologically advanced products, mainly through digital marketing channels, propels the demand for high-quality medical treatments for orthopedic defects in the pediatric population, subsequently contributing to the adoption of orthopedic implants designed for children. The most commonly used implants are polymer- and ceramic-based ones. Nowadays, biodegradable, i.e., resorbable implants are preferably used due to their beneficial properties. An anterior cruciate ligament (ACL) reconstruction and ankle fractures are the most commonly observed indications that are treated using resorbable implants. Using these implants eliminates the need for implant removal operations, which often lead to prolonged and costly hospital stays; long hospital stays are not considered a convenient option while treating pediatric patients.
Global Pediatric Orthopedic Implants Market: Competitive Landscape and Key Developments
Johnson & Johnson, Arthrex Inc., Stryker Corp, OrthoPediatrics Corp, WishBone Medical Inc., Samay Surgical Pvt Ltd., Vast Ortho Pvt Ltd., Merete GmbH, and Suhradam Ortho are among the key companies operating in the pediatric orthopedic implants market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of market presence, and acquisition of new customer bases for tapping prevailing business opportunities.
In January 2023, Arthrex received US Food and Drug Administration (FDA) clearance for its ACL TightRope implant for its use in the treatment of pediatric indications. The implant is used in the surgical treatment of orthopedic injuries, and it is the first and only fixation device cleared for ACL injuries in pediatric cases.
In June 2022, OrthoPediatrics Corp. entered into an agreement to acquire Pega Medical, including its Fassier-Duval Telescopic Intramedullary System designed for patients suffering from bone deformities such as osteogenesis imperfecta. Their product offerings include novel technologies to treat some most unique conditions in pediatric orthopedics.
North America holds the largest share of the pediatric orthopedic implants market, with the US, Canada, and Mexico being the major contributors to the market growth in this region. The market growth in North America is attributed to the increasing cases of birth deformities and the rising implementation of growth strategies by key market players operating in this region. In addition, the growing health expenditures in major countries would drive market growth in the region during the forecast period. The US has a large number of clinics providing advanced surgical services, wherein the number of orthopedic surgeries performed is increasing notably. The World Health Organization (WHO) states road traffic injuries as the 8th leading cause of death among pediatric individuals. According to the Centers for Disease Control and Prevention (CDC), ~9.2 million children in the US are admitted to the emergency department for the treatment of accidental injuries such as falls and road traffic. The increasing number of traumatic injuries and road accidents, and the rising prevalence of congenital or acquired deformities of the face, along with technological advancements in plastic surgery procedures, contribute to the pediatric orthopedic implants market in the US. In the country, falls are the leading cause of emergency department visits paid to seek treatments for child injuries. According to a study titled “The Burst of Musculoskeletal Cancer in the US,” traumatic injuries are the leading cause of death among children and adolescents in the US, causing 20,000 deaths annually.
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Global Pediatric Orthopedic Implants Market: Segmentation Overview
Based on type, the pediatric orthopedic implants market is segmented into hip implants, spine implants, knee implants, dental implants, craniomaxillofacial implants, and others. The hip implants segment held the largest market share in 2022. Inflammation, hip fracture, and natural wear-and-tear are common reasons for hip replacement surgeries. Orthopedic hip implants are frequently used in pediatric patients to treat traumatic injuries and developmental hip dysplasia. Total hip replacement in the pediatric population requires a broad array of additional considerations because of the age and functional demands of these patients. Hip implants are commonly used during the treatment of patients diagnosed with hip dysplasia. In the US, 1 in 1,000 babies is born with hip dysplasia annually. Thus, the increasing incidence of hip dysplasia is anticipated to drive the pediatric orthopedic implants market for the hip implants segment. However, total hip arthroscopy is rarely recommended in children, which limits the use of hip implant products and hinders the market growth to some extent.
Based on application, the pediatric orthopedic implants market is segmented into trauma and deformities, broken bones, bone and joint infections, spinal deformities, and others. The trauma & deformities segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022-2030. The line of treatment of pediatric orthopedic trauma and deformities is evolving worldwide due to congenital diseases, developmental disorders, or acquired problems. Nonprofit organizations are taking initiatives to improve clinical outcomes and improve the management of orthopedic trauma in children. For instance, Children’s Hospital Colorado works closely with a multidisciplinary team appointed at the Orthopedics Institute, including orthopedic surgeons, rehabilitation providers, plastic surgery providers, and infectious disease specialists, to provide comprehensive care and ensure the best possible outcome for children. Moreover, congenital deformities involving the skeleton represent a major healthcare burden in Europe and other countries. According to the European Platform on Rare Disease Registration, the prevalence of skeletal dysplasia was 2 cases per 10,000 births in 2021 in Europe.
Based on end user, the pediatric orthopedic implants market is segmented into hospitals, pediatric clinics, and others. The hospitals segment held the largest market share in 2022; it is anticipated to register the highest CAGR of 10.9% during 2022-2030. Medical staff at hospitals offers convenient services and the best care to patients to restore and maintain good public health. Moreover, public and private hospitals are taking initiatives to improve and expand clinical services through partnerships and collaborations. In November 2022, NCH Healthcare System partnered with the Hospital for Special Surgery based in New York. In March 2021, CarePoint Health (a continuous provider of healthcare) collaborated with Rothman Orthopaedic Institute (a world leader in the field of orthopedics serving communities in Pennsylvania) to establish a comprehensive orthopedic services institute at Hoboken University Medical Center and Christ Hospital in Jersey City. This collaboration helps develop and enhance a broad array of high-quality orthopedic programs for medical, surgical, and related issues.
Go through further research published by The Insight Partners:
Orthopedic Devices Market – Global Analysis and Forecast to 2030
Orthopedic Bone Cement Market – Global Analysis and Forecast to 2030
Orthopedic Reamers Market – Global Analysis and Forecast to 2030
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