The South & Central America pediatric orthopedic implants market is expected to reach US$ 215.8 million by 2027 from US$ 116.7 million in 2019; it is anticipated to grow at a CAGR of 8.1% during 2019–2027.
The market is growing primarily due to increasing sports injuries and bone deformities among children and rising awareness and adoption of orthopedic solutions and treatments. Factors such as post-surgical complications associated to pediatric orthopedic implants hinder the growth of the market.
Pediatric orthopedic implants are the surgical implants that help in healing bone and spine injuries with deformities among children. Children have growing anatomy and the strength of the skeletal system is less. Medical conditions regarding orthopedics require special equipment to fix the deformation in bone, skeleton, and other dislocation.
Orthopaedic congenital disability is caused due to abnormal development of bone and muscle tissue during fetal development. According to a study published by March of Dimes, the conditions for about 60% of congenital disabilities are unexplained. Various risk factors such as abnormal genes inherited from a parent, missing or abnormal genes caused by a chromosome disorder, consumption of alcohol, smoking cigarette, intake of illicit drugs, certain medications, radiation, and other indications. The orthopedic is among the different defect that has been observed remarkably. The congenital orthopaedic disabilities include congenital disability clubfoot, developmental dysplasia of the hip that causes dislocation in the hip, metatarsus adducts that causes curved foot or in-toeing involving the feet, spine deformities, osteogenesis imperfecta, muscular dystrophy, limb defects, and bone infections.
Moreover, there is considerable increase in sports injuries among children, which is promoting the adoption of pediatric orthopedic implants. The increased incidence of sports injuries caused by growing participation in sports and physical activities in children aged between 10–14 years. Such factors are expected to drive the South & Central America pediatric orthopedic implants market during the forecast period.
Countries in Brazil and Argentina are among the top destinations across the world for surgical procedures owing to the relatively lower cost of treatments than the US. The COVID–19 outbreak has severely impacted the flow of medical services in the region. In addition, the countries are popular for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, and Colombia are hindered by the second wave of the outbreak. Among which, Brazil has registered the highest count of deaths. As of December 2020, more than 460,000 death cases have been reported, which was considered as a sign of second wave. It is expected that the region is likely to impose second lockdown, which would eventually hamper the healthcare industry in the region. Thus, the market in the region is experiencing significant slowdown and is expected to witness the same in the next two to three years.
By type, the hip implants segment accounted for the largest share of the South & Central America pediatric orthopedic implants market in 2019. The growth of the market for this segment is attributed to the growing number of pediatric hip replacement surgery. However, the knee implants segment is likely to register the highest CAGR in the market during the forecast period.
A few of the significant secondary sources referred to while preparing the report on the South & Central America Pediatric Orthopedic Implants market report are the World Health Organization (WHO), and others.