The global osteotomy plates market size is estimated to grow at a CAGR of 5.7% from 2024 to 2029.
Osteotomy is a surgical procedure where a part of the bone is cut off and altered to eradicate the uneasiness caused by an overgrowth of the bone in conditions like arthritis. The operation is also performed to correct a crooked or displaced bone due to a traumatic accident or injury. Osteotomy plates are made of surgical-grade titanium and stainless steel and are used in osteotomy surgery to hold the bones together. Osteotomy is a very extensive procedure primarily performed for the hip and knee, and the two most common osteotomies are innominate and femoral osteotomies.
The growing incidence rate of bone-related diseases caused by an unhealthy lifestyle or improper diet propels the osteotomy plates market growth.
Furthermore, the rise of the senior population and, thus, increased road accidents due to this reason have also fueled the market growth. In addition, the high adoption of surgical procedures for safer diagnosis and treatment of bone-related diseases is expected to boost the market growth of the global osteotomy plates market. Besides, the rising healthcare investment and available market opportunities in developing regions, like the Asia Pacific, are expected to provide numerous market growth opportunities for more companies in this market.
Growing cases of arthritis are expected to support the osteotomy plates market growth.
According to CDC statistics, 58.5 million adults in the US (23.7%), or one in four, have arthritis, according to a medical diagnosis. Osteoarthritis affects more than 15 million adults annually, with India contributing 22% to 39% share to the global numbers. The growing need for hip and knee replacement surgeries also promotes the market's growth. According to statistics from NCBI, Complete hip and total knee replacements were more common among people fifty years of age or older (2.34% and 4.55%, respectively). Women were more likely to undergo both treatments than males. Age-related prevalence increased, and total knee replacement rates rose steeper than total hip replacement rates.
The adverse effects associated with using plates, like changes in body structure, are one of the reasons hindering the market growth. In addition, the costly procedural or high cost of osteotomy surgeries is a significant challenge for this market. Some countries' low healthcare standard is also a primary reason people must be aware of these modern techniques, limiting the market growth.
COVID-19 resulted in a lockdown in major countries around the world. Due to less movement of people, there was less vehicle movement and fewer road accidents. This downside in road accidents has hampered the growth of this market. The adversely affected regions have converted major hospitals into COVID-dedicated wards; thus, the priority to treat patients requiring plates has taken a back seat. The research funding has also shifted towards finding a cure for covid 19; new technology for this market may face some delay. Considering the reduced impact of COVID-19 and the growing adoption of new normalization, the global osteotomy plates market is anticipated to showcase a healthy growth rate during the forecast period.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
Segments Covered |
By Material, Application, End-User, Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Arthrex, Inc., OrthoPediatrics Corp., Acumed, LLC, Wright Medical Group N.V., Implantate AG, Johnson & Johnson, Stryker Corporation, Zimmer Biomet, B. Braun Melsungen AG, GROUP FH ORTHO, Amplitude Surgical. |
The polymer osteotomy plate segment is expected to grow reasonably during the forecast period. It is owing to the rising prevalence of osteoporosis and the increasing geriatric population worldwide. In addition, technological advancements in the polymer osteotomy plates segment with reduced complications have increased their popularity and driven market growth.
The hip surgeries segment is expected to grow at a healthy CAGR during the forecast period due to the increasing prevalence of bone-related diseases. As a result, abnormal development in the hip joint in adolescents and young adults is more common.
The clinics segment had the second largest market share in 2024, but the growth rate is expected to be limited due to the limit in technological advancement.
The ambulatory surgical centers segment held a considerable share of the global market in 2024 and is expected to register a healthy growth rate. The increase in quality healthcare will increase the ambulatory services and thus will further capture the market share.
The osteotomy plates market in North America dominated the market in 2024. It is estimated to hold a significant market size over the forecast period due to rising bone-related diseases and increasing surgical procedures for bone-related conditions. In addition, the increase in consumers' buying power has further boosted this region's market share. With healthcare quality increasing and rising awareness among consumers, the region will dominate the market.
In 2024, the European osteotomy plates market had the second-largest market share, and the growth rate is expected to be positive during the forecast period. This is because the quality of healthcare services is rapidly improving in this region, thus boosting market growth. In addition, the increase in the old age population with more bone-related problems was a significant reason for the rise in market growth.
The osteotomy plates market in APAC had the third-largest market share in 2024 and is expected to have the highest growth rate among all other areas. The high population and population growth rate is the primary reason for this market growth rate. In addition, the presence of government organizations aiding bone health management and increasing awareness among the key players to manufacture osteotomy plates drives the market. With time and technological advancement, Asia pacific may soon become the market leader.
The Latin America osteotomy plates market is anticipated to hold a considerable share of the global market during the forecast period.
The osteotomy plates market in MEA is expected to register a moderate CAGR in the coming years.
The notable product manufacturers operating in the global osteotomy plates market profiled in this report are Arthrex, Inc., OrthoPediatrics Corp., Acumed, LLC, Wright Medical Group N.V., Implantate AG, Johnson & Johnson, Stryker Corporation, Zimmer Biomet, B. Braun Melsungen AG, GROUP FH ORTHO and Amplitude Surgical.
Knee Surgery
Frequently Asked Questions
The global osteotomy plates market is expected to grow at a promising growth rate of 5.7% during the forecast period.
Yes, we have studied and included the COVID-19 impact on the global osteotomy plates market in this report.
APAC is anticipated to register domination in the global osteotomy plates market during the forecast period.
Arthrex, Inc., OrthoPediatrics Corp., Acumed, LLC, Wright Medical Group N.V., Implantate AG, Johnson & Johnson, Stryker Corporation, Zimmer Biomet, B. Braun Melsungen AG, GROUP FH ORTHO and Amplitude Surgical are some of the notable players in the osteotomy plates market.
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