SEATTLE, April 20, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global pediatric ankle orthoses market is estimated to be valued at US$ 222.1 million in 2020 and is expected to exhibit a CAGR of 6.8% during the forecast period (2020-2027).
Key trends in the market include the rising government initiatives, technological advancements, and product launches by market players.
The increasing number of product approvals from regulatory agencies, and product launches are expected to propel the market growth. For instance, in July 2017, Ottobock Healthcare announced the launch of three orthotic products such as WalkOn Reaction Junior ankle foot orthosis, X-ible flexure joints, and the SNAPstop plantar flexion stop for the children. The products are available in the U.S. and Canada.
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Launch of new centers and hospitals for offering orthotic services is expected to drive the growth of the pediatric ankle orthoses market during the forecast period. For instance, in November 2019, KK Women's and Children's Hospital (KKH) launched paediatric orthotic centre to offer orthotic services for pediatric patients suffering from spine and lower limb conditions. The new centre has an in-house workshop which is operated by prosthetists and orthotists to create customized orthoses.
Various government bodies are focusing on initiatives to increase access to prosthetics and orthoses. Such initiatives are expected to drive the adoption of orthoses and prosthetics and facilitate the market growth during the forecast period. For instance, in 2016, the Department of Health in U.K. announced funding for children’s prosthetics. Similarly, in 2018, the Department of Health and Social Care, U.K. announced a US$ 1.9 million investment so that would allow more children with disabilities to benefit from the latest prosthetics.
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Key Market Takeaways:
- The pediatric ankle orthoses market is expected to exhibit a CAGR of 6.8% during the forecast period (2020-2027) owing to the rising government initiative, launch of orthotic centers, technological advancements, and product launches by market players.
- Key players operating in the global pediatric ankle orthoses market are Orthomerica, Restorative Care of America (RCAI), ING Source, Inc., DJO, LLC, Ottobock, Ortho Europe, Invent Medical, Boston Orthotics & Prosthetics, Allard USA Inc., Surestep, and Trulife
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Market Segmentation:
- Global Pediatric Ankle Orthoses Market, By Product Type:
- Elastic Ankle Braces
- Light Support
- Moderate Support
- Extra Support
- Others
- Global Pediatric Ankle Orthoses Market, By Application:
- Plantar Fasciitis
- Flatfoot
- Ankle Sprain
- Others
- Global Pediatric Ankle Orthoses Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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