Osteotomy Plates Market

The global Osteotomy Plates Market Size was valued at $613.15 million in 2020 and is projected to reach $900.22 million by 2030, growing at a CAGR of 3.9% from 2021 to 2030. An osteotomy plate is used to perform a surgical bone operation known as osteotomy. This procedure is employed to lengthen or shorten the bone alignments to treat bone disorders, including osteoarthritis, dysplasia, bone diseases, and bone injuries. Osteotomy is any surgery that cuts and reshapes the bones. This procedure is used to repair a damaged joint. There are many types of osteotomies, which are used to treat various orthopedic conditions and injuries.

The overall impact of COVID-19 remains negative on the osteotomy plates market, owing to a decline in the number of patient visits in hospitals & clinics for osteotomy procedures, which, in turn, declines the demand for osteotomy plates products. For instance, the World Health Organization (WHO) issued guidelines suggesting providing emergency services to patients who require urgent attention and postponing non-essential procedures, such ad hip, and knee replacement surgery if not urgent, which declined the demand for osteotomy plate products in the market

An increase in the incidence rate of bone-related diseases caused by improper diet or unhealthy lifestyle is the major factor that drives the Osteotomy Plates Market Growth. In addition, an increase in the number of road accidents, a rise in the geriatric population, and a surge in the adoption of surgical procedures for safer diagnosis and treatment of bone-related diseases boost the market growth. Furthermore, a rise in the incidences of osteoporosis & osteoarthritis, growth in demand for surgical procedures, and an increase in demand for osteotomy plates to minimize the pain & avoid joint replacements fuel the market growth. However high cost of plates and complications associated with osteotomy processes, such as infection at the site of surgery, issues of broken screws, inflammation of joint tissues, bleeding in the joints, and blood clotting can hamper the growth of the Osteotomy Plates Industry in upcoming years.

Moreover, an increase in healthcare investment in developing nations, a rise in the prevalence of osteoporosis, an increase in the geriatric population, and technological advancements are expected to provide lucrative Osteotomy Plates Market Opportunity in upcoming years.

The Osteotomy Plates Industry is segmented on the basis of material, application, end-user, and region. Depending on the material, it is divided into metal osteotomy plates (titanium osteotomy plates and stainless steel osteotomy plates) and polymer osteotomy plates. By application, it is classified into hip surgery, knee surgery, and other applications. According to end-user, it is categorized into hospitals, clinics, and ambulatory surgical centers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global Osteotomy Plates by Material

Depending on the material, the metal osteotomy plates segment dominated the market in 2020 and is expected to dominate during the forecast period, owing to a rise in the incidence of osteoporosis and osteoarthritis, growth in demand for surgical procedures, and an increase in demand for osteotomy plates to minimize the pain and prevent joint replacements.

 

Global Osteotomy Plates review by Application

On the basis of application, the hip surgery segment that dominated the market in 2020 is expected to dominate during the forecast period, owing to an increase in the geriatric population who suffer from old-age ailments, such as arthritis, osteoporosis, and diabetes.

 

Global Osteotomy Plates by End User

By end-user hospital segment dominates the market in 2020 is expected to dominate during the forecast period, owing to the majority of knee replacement surgeries conducted in hospitals, due to the availability of advanced technologies and trained professionals in these healthcare settings.

 

Osteotomy Plates by Region

Region-wise, North America has largest Osteotomy Plates Market Share in 2020 and is expected to be dominant during the forecast period, owing to a rise in the number of osteoporosis and osteoarthritis cases, an increase in presence of major market players, and growth in the prevalence of people suffering from degenerative diseases. In the U.S., every year, more than 300,000 knee replacement procedures are performed and the number is expected to increase by 525, in 2030. In addition, researchers of the National Institutes of Health (NIH) and the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS) focus on improving knee replacement surgery by replacing the weight-bearing surfaces of the knee joint. This factor and the high prevalence of osteoarthritis are the key factors that drive the market growth. However, Asia-pacific is expected to register the highest CAGR from 2021 to 2030, owing to an increase in geriatric population, rise in incidences of road accidents, growth in sport-related injuries, and a surge in the development of healthcare infrastructure.

The major companies profiled in this report include Arthrex INC, Acumed LLC, Johnson & Johnson, Group FH Ortho, B. Braun Melsungen Ag, Zimmer Biomet, Stryker Corporation, Aap Implantate Ag, Wright Medical Group, and Amplitude Surgical. 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the osteotomy plates market analysis from 2020 to 2030 to identify the prevailing osteotomy plates market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the osteotomy plates market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global osteotomy plates market trends, key players, market segments, application areas, and market growth strategies.

 Osteotomy Plates Market Report Highlights