Pediatric Orthopedic Implants Market to Top $3.47B by 2027

According to the latest study on “Pediatric Orthopedic Implants Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography,” the pediatric orthopedic implants market size is projected to grow from $1.6 billion in 2019 to $3.47 billion by 2027; it is expected to expand at a compound annual growth rate (CAGR) of 10.2 percent through 2027, according to The Insight Partners. The report highlights trends prevailing in the global market, and drivers and restraints pertaining to the market growth.
 
Johnson and Johnson Services, Pega Medical, Arthrex Inc., Stryker Corporation, OrthoPediatrics Corp., Wishbone Medical Inc., Samay Surgical, Vast Ortho, Merete GmbH, and Suhradam Ortho are among the key companies operating in the global pediatric orthopedic implants market. The leading market players are continuously focusing on tapping prevailing business opportunities through the expansion and diversification of their market presence as well as through the acquisition of new customer base.
 
In January 2021, OrthoPediatrics Corp. launched its first sterile-packed implants for the Pediatric Nailing Platform FEMUR (PNPFEMUR). In August 2020, Wishbone Medical acquired the assets of Back 2 Basics Direct and Orbbö Surgical. These are two privately-held medical device companies focused on research, development, and commercialization of sterile packaged implants and surgical instruments for spinal fusion.
 
Congenital orthopedic disability is caused due to the abnormal development of bones and muscle tissues during fetal development. According to a study published by March of Dimes, the conditions in ~60 percent of congenital disabilities are unexplained. Genes inherited from parent or parents, missing or abnormal genes caused by a chromosome disorder, consumption of alcohol and smoking cigarettes, intake of illicit drugs or certain medications, and exposure to radiations are among the key factors contributing to the development of these congenital orthopedic disabilities. The congenital orthopedic disabilities include congenital disability clubfoot, developmental dysplasia of the hip that causes dislocation in hips, metatarsus adducts that causes curved foot or in-toeing involving the feet, spine deformities, osteogenesis imperfecta, muscular dystrophy, limb defects, and bone infections.
 
Treatments for orthopedic disorders are continually evolving with technological advancements in the healthcare sector, and the patients are being educated from time to time. A wide range of products, such as braces, supports, and implants are available in the market to facilitate orthopedic treatments. These products help reduce pain, assist in limb movements, and lower swelling and inflammation, thereby aiding comfort while walking as well as allowing patients to move and walk independently. However, these products are majorly adopted in developed and upper-middle-income countries. Foundations such as the International organizations  create awareness regarding the use of orthopedic braces and promote the use of prosthetics and orthotics (ISPO). This organization assists people with limb amputations or people with injuries to their limbs and spine. Therefore, enhanced function the prosthetics and orthotics sector worldwide.. 

Based on type, the pediatric orthopedic implants market is segmented into hip implants, knee implants, spine implants, craniomaxillofacial implants, dental implants, and others. The hip implants segment is expected to register a high CAGR in the market during the forecast period. Hip implants are medical devices intended to restore mobility and relieve pain associated with arthritis and other hip diseases or injuries. In terms of application, the trauma and deformity segment accounted for more than 30 percent of global pediatric orthopedic implants market in 2019. In terms of end user, the hospital segment is anticipated to hold a major market share during the forecast period.