Market Research Report
Ortho Pediatric Devices Market by Product and Geography - Forecast and Analysis 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||914195|
|Published||Content info||150 Pages
Delivery time: 1-2 business days
|Ortho Pediatric Devices Market by Product and Geography - Forecast and Analysis 2019-2023|
|Published: October 7, 2019||Content info: 150 Pages||
Technavio's ortho pediatric devices market analysis considers sales from trauma and deformities, spine, sports medicine, and smart implants products. Our study also finds the sales of ortho pediatric devices in Asia, Europe, North America, and ROW. In 2018, the trauma and deformities segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as a strong pipeline of products and the launch of innovative products by vendors will play a significant role in the trauma and deformities segment to maintain its market position. Also, our global ortho pediatric devices market report looks at factors such as increasing incidence of pediatric orthopedic injuries, product launches, and increasing M&A activities. However, high costs associated with orthopedic devices and surgeries, product recalls, and stringent regulations related to orthopedic devices may hamper the growth of the ortho pediatric devices industry over the forecast period.
To expand their product portfolios as well as strengthen their business, vendors in the ortho pediatric devices market are increasingly adopting inorganic business strategies such as M&As. Several established vendors are acquiring smaller companies to expand their markets in new regions. Such acquisitions have led to the introduction of several technological advances in ortho pediatric devices. Thus, increasing M&A activities will lead to the expansion of the global ortho pediatric devices market at a CAGR of over 6% during the forecast period.
The development of medical devices for pediatric patients lags behind the development of medical devices for adults. Hence, government organizations and regulatory agencies across the world are supporting the development of safe and effective pediatric medical devices. For instance. in 2009, the US FDA launched the PDC Grants Program to facilitate the R&D of innovative pediatric medical devices through the funding of non-profit consortia. In September 2018, the US FDA announced that it had awarded five grants of USD 6 million per year over the next five years to PDC. Key vendors and venture capitals from private sectors are also investing in startup companies that are developing innovative orthopedic devices for pediatric applications. Such increasing investments and funding is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global ortho pediatric devices market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global ortho pediatric devices market is moderately fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ortho pediatric devices manufacturers, that include Arthrex Inc., Johnson & Johnson Services Inc., NuVasive Inc., Orthofix Holdings Inc., OrthoPediatrics Corp., Pega Medical Inc., Smith & Nephew Plc, Stryker Corp., WishBone Medical Inc., Zimmer Biomet Holdings Inc.
Also, the ortho pediatric devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.