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(Health-NewsWire.Net, September 23, 2019 )
Market Overview
Osteotomy plates are used to perform a surgical bone operation called osteotomy. The procedure is employed to lengthen or shorten the bone alignments to treat bone disorders like osteoarthritis, dysplasia, bone diseases, and bone injuries. The osteotomy plates eliminates the need for intraoperative contouring and reduces the soft tissue irritation. They have tapered ends which allows submuscular plate insertion. Also, the locking screws creates a fixed angle construct that provides the angular stability.
Market Dynamics
The osteotomy plates market is driven by an increase in the incidence rate of bone-related disorders, rising geriatric population susceptible to bone diseases, growing preferences for surgical procedures, and the increasing number of road accidents.
The increasing incidence rate of bone-related disorders is expected to boost the market. Bone disorders such as osteoporosis is one of the common causes of fractures. According to the recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. Currently, it has been estimated that more than 200 million people have osteoporosis. Thus, the increasing incidence of bone disorders are driving the market.
The rising geriatric population is expected to boost the market. The aged population is more prone to various physical and psychological, changes leading to age-associated diseases of bone such as arthritis, and osteoporosis. As per Department of Economic and Social Affairs Population Division of United Nations, 2017, the world's population who are 60 years old will double and those of 80 years old will triple during the next 30 years. As per WHO, the number of people of age 65 or older is expected to grow to around 1.5 billion in 2050, with most of the increase in the developing countries. Thus, the increasing geriatric population will upsurge the need for osteotomy procedures, thereby boosting the market growth for osteotomy plates.
The increasing number of road accidents is expected to boost the market. For instance, according to the Annual Global Road Crash Statistics, nearly 1.25 million people die in the road crashes each year, on average, 3,287 deaths a day. Also, an additional 20-50 million are injured or disabled. Road crashes cost around USD 518 billion globally, costing individual countries from 1-2% of their annual GDP. Unless action is taken, road traffic injuries are predicted to become the fifth leading cause of death by 2030. Thus, the increasing number of road accidents, leading to increased cases of bone surgeries are driving the market.
However, the high cost of osteotomy procedure and complications associated with osteotomy process are expected to hamper the market. Complications related to osteotomy procedures include nerve damage, bleeding, blood clots, infections, lack of full range motion, scar formation, development of arthritis, and reinjuries to the soft tissue or joint.
Segment Analysis:
By material, the global osteotomy plates market is segmented into metal osteotomy plates and polymer osteotomy plates.
The metal osteotomy plates are further segmented into
Titanium osteotomy plates
Stainless-steel osteotomy plates.
By application, the global osteotomy plates market is segmented into knee surgery, hip surgery, and other applications.
The knee surgery segment, based on technique
Technique, is further segmented into
Dome technique
Chevron osteotomy
Closed wedge technique
Open wedge technique
Others.
The knee surgery segment is expected to boost the market, owing to the increased adoption of High tibial osteotomy procedures. Increasing prevalence of the orthopedic conditions driven by various factors like age, road accidents, and inheritance is the major driving factor for high tibial osteotomy (HTO) plates worldwide. 3D printing technology is rapidly growing as an attractive option for coupling with HTO, to attain superior results post-surgery with an additional benefit of high accuracy. Thus, the increasing adoption of high tibial osteotomy procedures and the technological advancements in osteotomy is driving the market.
Hip surgeries segment is expected to boost the market. This is owing to the increasing prevalence of bone-related diseases and the use of osteotomy procedures in hip surgeries. Abnormal development in the hip joint in the adolescents and the young adults is more common. The condition may lead to hip dysplasia and hip impingement and usually requires surgery to correct the problem. For instance, according to an article posted in Birmingham Medical News in 2018, periacetabular osteotomy for hip dysplasia is expected to prevent the joint replacement. Thus, the increasing adoption of osteotomy in hip surgeries is driving the market.
Geographical Analysis
By Geography, the market is segmented into:
North America
Europe
South America
Asia Pacific
The Middle East and Africa.
Competitive Landscape
The key players operating in the global osteotomy plates market are
Arthrex, Inc.
Acumed, LLC
Johnson & Johnson
FH Orthopedics
Others.
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