The osteotomy plates market is forecasted to be appraised at USD 615.5 million by 2033, up from USD 375.5 million in 2023, advancing at a CAGR of 5.1% during the forecast period.
An osteotomy is a surgical procedure in which a bone is cut to shorten, lengthen, or realign with another bone. Osteotomy plates are used to perform these minimal surgical procedures. Osteotomy can be done for the hip, knee, chin, and jaw to fix an affected portion that impacts the growth of an individual. The surgery is performed to improve several deformities of bone, especially in younger patients, while delaying the advancement of painful conditions such as arthritis.
The market growth is said to propel as. There is a rise in the prevalence of bone-related diseases across the world, promoting the demand for osteotomy plates. Also, the osteotomy plate is used to treat painful bunions caused by the outward displacement of the first toe, which can be rectified by restoring its shape.
Globally the growing cases of bone diseases, osteoarthritis, bone injuries, and dysplasia is on the rise, and this has resulted in the surge of osteotomy procedures; thereby, the demand for osteotomy plates has risen, as well as market key trends and opportunities.
The osteotomy plates are designed for the screws to rest beneath the plate surface. They are available with various angles between the blade and the shaft. Standard osteotomy plates have angles of 90°, 100°, 110°, 120° and 130°. Osteotomy plates are primarily used for intertrochanteric osteotomies in adolescents and small adults. The application of different angled osteotomy plates requires great care and needs precise planning.
The osteotomy plates eliminate the need for intraoperative contouring and minimize soft tissue irritation. Osteotomy plates have tapering ends permitting submuscular plate insertion. The locking screws produce a fixed-angle structure that offers angular stability.
| Attributes | Details |
|---|---|
| Global Osteotomy Plates Market Valuation in 2022 | USD 359 million |
| Estimated Global Market Share in 2023 | USD 375.5 million |
| Forecasted Global Market Size by 2033 | USD 615.5 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 5.1% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 4.1% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Increasing Prevalence of Bone-related Disorders
Bone-related diseases because of unhealthy and sedentary lifestyles coupled with improper diet are anticipated to drive market growth. Osteoporosis is one of the most common causes of fractures. Presently, it has been predicted that over 200 million individuals are suffering from osteoporosis across the world. Therefore, this increase in bone disorders is promoting market growth.
Moreover, the increasing prevalence of osteoarthritis and osteoporosis, rising demand for osteotomy plates to reduce pain and prevent joint replacements, and surging demand for surgical procedures are fueling the market's future trends and a surge of demand for osteotomy plates.
High Investments in the Healthcare Sector
There has been a conscious effort in developing nations to increase investment in the healthcare industry, coupled with growing technological advancements, which are anticipated to give lucrative market opportunities in the upcoming years.
Nitinol Staples
Recent developments in osteotomy plates are projected to promote market growth. A nickel-titanium alloy known as nitinol having shape-memory properties encourages a constant compressive force to fractured surfaces.
Nitinol staples offer benefits that make them a significant implant material. Many key market manufacturers are incorporating Nitinol into their products. For example, Arthrex Inc.’s DynaNite Nitinol Staple for Akin Osteotomy is known to be a state-of-the-art product. Such advancements and advanced technology in osteotomy plates are boosting the market growth.
Multiple Risks Linked
Besides the benefits of osteotomy procedures, there are several risks associated with them, such as issues of broken screws, infection at the site of surgery, bleeding in the joints, joint tissue inflammation, nerve damage, scar formation, lack of full range motion, development of arthritis, and blood clotting can hinder the market growth during the forecast period.
Expensive
Apart from the adverse effects related to the osteotomy plates, osteotomy procedures are expensive, and this factor can restrict the market growth.
| Category | By Application |
|---|---|
| Top Segment | Metal Osteotomy Plates |
| Market Share in Percentage | 98.4% |
| Category | By End User |
|---|---|
| Top Segment | Hospital |
| Market Share in Percentage | 59.4% |
Principal Consultant
Based on application, osteotomy plates are used more in hip surgeries. In 2020, this segment led the market owing to an increasing old-age population who go through age-related issues such as osteoporosis, arthritis, and diabetes.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 37.4% |
| Europe | 27.6% |
Region-wise, North America holds a market share of 35.60%. This region is anticipated to maintain the market position during the forecast period due to the increasing prevalence of osteoarthritis cases and osteoporosis. Furthermore, several people suffer from degenerative diseases, and key market players are also promoting market growth in North America.
Researchers from the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS) and the National Institutes of Health (NIH) are aiming to enhance knee replacement surgery by substituting the weight-bearing surfaces of the knee joint. Every year in the United States, over 300,000 knee replacement procedures are performed, and this number is anticipated to rise by 525 by the year 2030. This factor is leading to aggressive demand for osteotomy plates and thereby promoting the market growth of North America.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 34.1% |
| Germany | 6.4% |
| Japan | 3% |
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Europe is accountable for holding 32.10% of the market. The Europe market is anticipated to grow owing to the prevalence of bone-related diseases because of unhealthy lifestyles and bad diets. Road accident cases are on the rise, and there is more awareness amongst the people in the region is propelling the market future trends in Europe.
Increasing healthcare investments by private organizations and the government to enhance the healthcare infrastructure in this region are anticipated to strengthen the market opportunities. Technological advancements in healthcare segments are experiencing growth, and untouched opportunities in emerging regions are projected to deliver several market opportunities for the market growth of Europe.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 4.2% |
| China | 7% |
| India | 6.7% |
| Australia | 4.5% |
Some key players in the market are Arthrex, Inc., Acumed, DePuy Synthes Companies, TriMed, Inc., Novastep Inc., Stryker Corporation, Johnson & Johnson, B. Braun Melsungen AG, Jorgensen Laboratories, Inc., Zimmer Biomet, Integra LifeSciences Corporation, Jeil Medical Corporation, OrthoPediatrics Corp., and Medartis.
The leading market players adopt numerous strategies such as mergers and acquisitions, product launches, collaborations, and partnerships.
| Sr. No. | 1 |
|---|---|
| Year | May 2022 |
| Key Player | Acumed |
| Strategy Employed | Acumed launched the Ulna Nail 2 System to deliver multiple choices in the treatment of ulna fractures. |
| Sr. No. | 2 |
|---|---|
| Year | 2019 |
| Key Player | Zimmer Biomet |
| Strategy Employed | Zimmer Biomet introduced the Stratum Foot Plating System, which is a plate and screws construct designated for fracture fixation, malunions, osteotomies, fusions of small bones, and non-unions. |
| Sr. No. | 3 |
|---|---|
| Year | June 2022 |
| Key Player | Stryker |
| Strategy Employed | Stryker, one of the global leaders of medical technology companies, launched a 'Free Your Feet' campaign to raise awareness regarding new bunion treatments. This interactive campaign consists of visually creative chalk designs for key metropolitan cities, i.e., Los Angeles, New York, Miami, and Chicago. |
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million or USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Arthrex, Inc.; Acumed; DePuy Synthes Companies; TriMed, Inc.; Novastep Inc.; Johnson & Johnson; B. Braun Melsungen AG; Jorgensen Laboratories, Inc.; Zimmer Biomet; Stryker Corporation; Integra LifeSciences Corporation; Jeil Medical Corporation; OrthoPediatrics Corp.; Medartis |
| Customization & Pricing | Available Upon Request |
The Osteotomy Plates Market CAGR for 2033 is 5.1%.
The market is estimated to reach USD 615.5 million by 2033.
Key players in the Osteotomy Plates Market are developing it by introducing innovative technologies and expanding product portfolios.
The market is estimated to secure a valuation of USD 375.5 million in 2023.
Aap Implantate AG, Arthrex, Inc., and Stryker Corporation are the key Osteotomy Plates Market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Metal 5.2. Titanium 5.3. Stainless Steel 5.4. Polymer 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Hospitals 6.2. Surgical Centres 6.3. Research Centres 6.4. Other 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Knee Surgery 7.2. Hip Surgery 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Arthrex, Inc. 18.2. Acumed 18.3. DePuy Synthes Companies 18.4. TriMed, Inc. 18.5. Novastep Inc. 18.6. Johnson & Johnson 18.7. B. Braun Melsungen AG 18.8. Jorgensen Laboratories, Inc. 18.9. Zimmer Biomet 18.10. Stryker Corporation 18.11. Integra LifeSciences Corporation 18.12. Jeil Medical Corporation 18.13. OrthoPediatrics Corp. 18.14. Medartis 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Healthcare Insights
View Reports
Osteotomy Plates Market
