Pune, India., June 09, 2021 (GLOBE NEWSWIRE) — Pediatric Orthopedic Implant Market: Key Insights
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 market size for Pediatric Orthopedic Implants is projected to grow from $1,604.92 Million . in 2019 to US$3,479.79 million in 2027; it is expected to grow at a CAGR of 10.2% in 2020-2027. The report highlights trends prevailing in the global market, and drivers and restraints affecting the market growth.
Pediatric Orthopedic Implants Market: Competitive Landscape and Key Developments:
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 top companies operating in the global orthopedic implant market for children. The leading market players continuously focus on unlocking existing business opportunities by expanding and diversifying their market presence and acquiring a new customer base.
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In January 2021, OrthoPediatrics Corp. launched. its first sterile packaged implants for the Pediatric Nailing Platform FEMUR (PNPFEMUR).
In August 2020, Wishbone medical, Inc. acquired. the assets of Back 2 Basics Direct and Orbbö Surgical. These are two privately held medical device companies focused on the research, development and commercialization of sterile packaged implants and surgical instruments for spinal fusion.
Congenital orthopedic disability is caused by the abnormal development of bone and muscle tissue during fetal development. According to a study published by March of Dimes, the conditions in ~60% of congenital disabilities are unexplained. Genes inherited from parent or parents, missing or abnormal genes caused by a chromosome abnormality, alcohol consumption and cigarette smoking, ingestion of illegal drugs or certain medications, and radiation exposure are some of the major factors that contribute to the development of these congenital orthopedic disabilities. . The congenital orthopedic disabilities include congenital club foot disability, developmental dysplasia of the hip causing dislocation in the hips, metatarsal adducts causing arched foot or in-toeing involving the feet, spinal deformities, osteogenesis imperfecta, muscular dystrophy, limb defects, and bone infections.
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Treatments for orthopedic conditions are constantly evolving with technological advances in healthcare, and patients are educated from time to time. There is a wide range of products on the market such as braces, braces and implants to facilitate orthopedic treatment. These products help reduce pain, aid in limb movement, and reduce swelling and inflammation, improving walking comfort and allowing patients to move and walk independently. However, these products are mainly used in developed and upper-middle-income countries. Foundations such as the International Organizations create awareness about the use of orthopedic braces and promote the use of prosthetics and orthoses (ISPO). This organization helps people with limb amputations or those with limb and spine injuries. Therefore, the function of the prosthetic and orthotic industry improved worldwide.
Pediatric Orthopedic Implants Market Segmented Overview:
Based on type, the pediatric orthopedic implant market is segmented into hip implants, knee implants, spine implants, craniomaxillofacial implants, dental implants, and others. The hip implant 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 conditions or injuries. In terms of application, the trauma and deformity segment accounted for more than 30% of the global pediatric orthopedic implant market in 2019. In terms of the end user, the hospital segment is expected to hold a large market share during the forecast period.
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