PEDIATRIC ANKLE ORTHOSES MARKET ANALYSIS

Pediatric Ankle Orthoses MarketSize and Trends

The global pediatric ankle orthoses market is estimated to be valued at US$ 269.8 million in 2023 and is expected to exhibit a CAGR of 6.9% during the forecast period (2023-2030).

The necessity and demand for the use of ankle orthoses is growing due to an increase in injuries and trauma requiring surgical procedures, which is anticipated to fuel the expansion of the global market for pediatric ankle orthoses over the forecast period. For instance, in December 2020, according to an article published in the journal of PLoS one, the overall incidence was 1,229 fractures per 100,000 individuals per year with yearly fracture incidence rate of 1.2% in Sweden.

Analysts’ Views on Global pediatric ankle orthoses market:

Global pediatric ankle orthoses market

Figure 1. Global pediatric ankle orthoses market Share (%), by Product Type, 2023

Rising awareness about the benefits of ankle braces

Ankle sprains are one of the most common injuries among athletes, often causing discomfort and time away from the game. Ankle braces are a fortunate answer to this problem. Increasing awareness of ankle braces usage leads to the use of it for prevention of ankle sprains, which is expected to boost growth of the global pediatric ankle orthoses market over the forecast period. For instance, on May 23 2023, according to an article published by the Seniority.in, a holistic health & lifestyle platform, to meet the physical, mental & social wellbeing of senior adults, stated advantages of wearing ankle braces for athletes during sports.

Growing sports participation among children

The participations of children in organizational sports and recreational activities continues to rise. With this increase there is greater emphasis on injury prevention and the use of ankle braces. For instance, in December 2022, according to an article published by Decathlon Sports India, Ankle braces are used in basketball contests to assist prevent ankle sprains and, as a result, to secure your ankles from any injuries that can interfere with the performance. This tends to the growth of use ankle braces for the forecast period.

Figure 2. Global pediatric ankle orthoses market Value (US$ Million), by Region, 2023

Global pediatric ankle orthoses market – Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global pediatric ankle orthoses market over the forecast period. North America is estimated to hold 41.5% of the market share in 2023. The North America pediatric ankle orthoses market is expected to witness significant growth in the coming years, driven by factors such as the increasing prevalence of muscular instability and ankle injuries among the pediatrics. Thus, the rise in pediatric ankle orthoses market growth over the forecast period.

Global pediatric ankle orthoses market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global pediatric ankle orthoses market. COVID-19 has caused a global public health catastrophe that has affected almost every business and industry. The long-term effects are predicted to have an effect on industry growth during the forecasted timeframe. The decline in sales had an effect on major market players, indicating that COVID-19 had a significant effect on the market and restrained its growth. However, throughout the pandemic, orthotics research and development expanded. For instance, in November 2021, according to an article published in the Journal of Function & Disability Journal, there are about 40 million amputees in developing countries, and only 5% of them have access to prosthetic care as reported by the World Health Organization. The professionals' strength is lacking for proper service delivery. The standard need for prosthetics and orthotics delivery is 5 to 10 orthotics and prosthetics clinicians per million population. However, for middle and low-income countries such as India, there is the need for the orthotics and prosthetic care.