+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
The global Pediatrics Orthotics Market is expected to account for a revenue of 1,356.40 USD Million in 2020 and is expected to grow with a CAGR of 4.14% by 2028.
Download Free Report Sample to learn more about this report.
Driver 1: The rise in the number of children suffering from musculoskeletal abnormalities and the use of Different materials for Pediatric Orthotics is anticipated to Fuel the Global Market Expansion
The global pediatric orthotics market is projected to be driven by the rise in the number of children who are born with or develop any number of musculoskeletal abnormalities such as trauma, fracture, cerebral palsy, Spina Bifida, muscular dystrophy, peripheral neuropathies, and spinal muscular atrophy.
Restraint: Higher costs and limited Availability of Treatment Methods Restrict the Pediatrics Orthotics Market Growth
Custom-made orthotic devices are much more costly, and they have offset the development of the relevant market. Though custom-made orthotic solutions are better than pre-fabricated devices, the latter ones are easily available.
Opportunity: Increasing Research and Development Activities to Propel the Market Growth
The growing government funding and initiatives for various research and development activities by a large number of developed and developing regions for the treatment and management of musculoskeletal abnormalities is a major factor estimated to boost the Pediatrics Orthotics Market growth.
Global Pediatrics Orthotics Market is segmented into By Product Type, By Musculoskeletal Abnormalities, By Distribution Channel And Region. Based on the type, the Pediatrics Orthotics is primarily split into Hip Orthotics, Cervical Orthotics, Cranial orthotics, Spinal orthotics, Lower extremity, and Upper extremity. Among these Upper extremity holds the highest market share of 36% in 2020.
Download Free Report Sample to learn more about this report.
The large number of serious injuries will drive the pediatric orthotics market growth. There are also increasing technological developments and amputations.
Based on the Pediatrics Orthotics Musculoskeletal Abnormalities, the Pediatrics Orthotics market is segmented into several major parts, like Scoliosis, Trauma/Fractures, Cerebral Palsy, Spina Bifida, Hand/Upper, Extremity Conditions, Muscular Dystrophy, Peripheral Neuropathies, Arthrogryposis, Spinal Muscular and Atrophy. Among these Trauma/Fractures holds the highest pediatrics orthotics market share of 33% in 2020.
Based on the Pediatrics Orthotics Distribution Channel, the Pediatrics Orthotics market is segmented into several major parts, like Hospital pharmacies, Online pharmacies, Footwear retailers and Specialized Orthopaedic Centers. Among these Hospital pharmacies holds the highest market share of 40% in 2020. The rise in the prevalence of musculoskeletal abnormalities in pediatrics is the major factor contributing to the growth of the pediatric orthotics market. Hospital pharmacies have rapidly emerged as the preferred distribution channel for the supply of products related to pediatrics. Healthcare providers use the medical supplies from hospital pharmacies for easy access to medicines. This factor is positively influencing the growth of the pediatrics orthotics market. However, shrinking medical reimbursements regarding healthcare insurance in many countries is one of the factors that is impeding the growth of the pediatrics orthotics market.
Based on the region. The Pediatrics Orthotics Market is analyzed across Four geographical regions, namely, North America, Europe, Asia-Pacific and Rest Of The World. Among these North America is expected to hold the highest market share of 34.5% in 2020 and is forecasted to grow with the CAGR of 4.71%. North America is one of the major contributors in the pediatric orthotics market, owing to the rise in musculoskeletal disorders and growing cases of sports-related injuries in the region. Data from the National Center for Injury Prevention and Control, Centre for Disease Control and Prevention (CDC) shows that 22,887,137 patients were estimated who reported to the emergency Department for minor injuries in 2020 in the USA
Download Free Report Sample to learn more about this report.
On the other hand Europe is expected to grow with the highest CAGR of 4.77% in the forecasted years. The high amount of available funding by federal and state governments as well as the favorable reimbursement scenarios also boost the demand for the adoption of orthotics in the European market. Also, the developed healthcare infrastructure, routine healthcare check-ups, and awareness about orthopedic orthoses are expected to drive Pediatrics Orthotics Market growth.
The global Pediatrics Orthotics market is characterized by the presence of many global, regional, and local vendors. The highly competitive market has several players who compete with each other for a large market share. There is very little focused competition. Only two other companies focus on this market and the large orthopedic companies ignore pediatrics, focusing on the adult hip, knee, and spine Pediatrics Orthotics Market. Key Players are Rhino Pediatric Orthopedic Designs, Restorative Care of America, Allard International, Becker Orthopedic, Basko Healthcare.
An analysis of the market developments between 2018 and 2022 revealed that several growth strategies such as New Product Launch, expansion agreements and partnerships, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the Orthotics market. Acquisitions were one of the most commonly used business growth strategies in the Pediatrics Orthotics Market.
· In April 2022, OrthoPediatrics Corp. announced the acquisition of MD Orthopaedics, which will assist the company's expansion into pediatric orthopedic non-surgical treatments for kids and further supports its mission of helping children living with orthopedic conditions.
· In April 2021, Boston Orthotics & Prosthetics announced that they are partnering with the Central Ohio Orthotic & Prosthetic Center (COOP) to provide pediatric orthotic and prosthetic services for patients and families in Central Ohio, including those of Nationwide Children’s Hospital.
· In January 2021, DJO, LLC announced the acquisition of Trilliant Surgical®, a national provider of foot and ankle orthopedic implants.
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2017-2028. For the purpose of this study, Research Layer has segmented the global Pediatrics Orthotics market based on product, phase, and region:
Report Scope
The global Pediatrics Orthotics market is expected to account for a revenue of 1,356.40 USD million in 2020 and is expected to grow with a CAGR of 4.14% by 2028.
North America had the largest share in the global market.
Among all product types Upper extremity holds the highest market share of 36% in 2020.
Among Pediatrics Orthotics Musculoskeletal Abnormalities Trauma/Fractures holds the highest market share of 33% in 2020.
Rhino Pediatric Orthopedic Designs, Restorative Care of America, Allard International, Becker Orthopedic, Basko Healthcare.
Report Code :
RL6514
Published on :
Nov 2022
Request a Free Sample Report
Speak to Analyst