The High Tibial Osteotomy Plates Market Size is valued at 231.75 Mn in 2023 and is predicted to reach 317.44 Mn by the year 2031 at a 4.12% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing number of bone-related diseases worldwide is a key factor propelling the high tibial osteotomy plates market.
- New technological developments fuel the rising demand for high tibial osteotomy plates.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The high costs associated with HTO surgical risks, rising interest in non-traditional treatments, and other similar issues are anticipated to limit the market's growth.
High tibial osteotomy (HTO) plates are surgical implants that stabilize and support the bones during a high tibial osteotomy treatment. During this surgical surgery, a controlled cut is made in the upper part of the shinbone (tibia) to realign the bones and redistribute the weight-bearing stress in the knee joint. Knee osteoarthritis is a prevalent disorder characterized by knee joint deterioration. The demand for HTO operations and related implants such as HTO plates is predicted to expand as the world population ages and converts more prone to osteoarthritis. Material, design, and manufacturing technique advancements have resulted in the creation of superior HTO plate systems. Technological developments propel market expansion by offering surgeons more effective and efficient treatment alternatives.
However, many elective surgeries, including HTO procedures, were postponed or cancelled during the pandemic to prioritize resources for COVID-19 patients and limit the risk of virus transmission. This resulted in a decrease in patient volume for HTO treatments, lowering demand for HTO plates.
Competitive Landscape:
Some major key players in the High Tibial Osteotomy Plates Market:
- Arthrex, Inc,
- SOFEMED International,
- SBM France,
- Hankiltech Medical Co., Ltd.,
- Intercus,
- Neosteo,
- Amplitude Surgical,
- Newclip Technis,
- Smith & Nephew,
- Olympus Corporation,
- Zimmer Biomet.
- DePuy Synthes (a Johnson & Johnson company)
- Stryker Corporation
- CONMED Corporation
- Wright Medical Group N.V.
Market Segmentation:
The High Tibial Osteotomy Plates Market is segmented on the basis of technique, material, and end-use. As per the Technique, the market is segmented as open wedge technique, closed wedge technique, progressive callus distraction, chevron osteotomy, and dome technique. The material segment includes metals and polymers. By metals, the market is segmented into titanium and stainless steel. The end-user segment includes hospitals, clinics, and others.
Based On Material, The Metal Segment Is Accounted As A Major Contributor In The High Tibial Osteotomy Plates Market
The metal category is expected to hold a major share of the global High Tibial Osteotomy Plates Market in 2024. Metals are the most commonly used and desired materials for the production of HTO plates. These metal plates provide robust fixation, lowering the likelihood of non-union following the HTO operation. Metal plates are also commonly utilized to keep the wedged-open tibia in position while the bone heals. Thus, the use of metal plates in various HTO operations will increase the demand for high tibial osteotomy plates.
The Hospital Segment Showed Growth At A Rapid Rate
The segment Hospital is projected to grow at a rapid rate in the global High Tibial Osteotomy Plates Market. The rising prevalence of osteoarthritis and knee surgery in hospitals will boost business growth. For example, it is estimated that 750,000 arthroscopic procedures are conducted in the United States each year. Furthermore, the existence of innovative medical equipment, trained orthopaedic surgeons, and advanced technology would raise patient preference for hospitals, consequently boosting market projections.
In The Region, The North America High Tibial Osteotomy Plates Market Holds A Significant Revenue Share
The North America High Tibial Osteotomy Plates Market is likely to register the maximum market share in terms of revenue in the near future. This is due to an increase in the number of cases of osteoporosis and osteoarthritis, the use of technologically improved therapies, the presence of major actors, and an increase in healthcare expenditure in the region.
Advanced HTO plate designs, such as patient-specific instrumentation, computer-assisted navigation, and enhanced locking mechanisms, have been introduced in the region. These technical advances promote market expansion and attract domestic as well as foreign manufacturers. However, Asia-Pacific is expected to rise significantly due to its large senior population and rising disposable incomes. Furthermore, the Asia-Pacific high tibial osteotomy plates market is predicted to rise rapidly in India and China.
Recent Developments
- In Feb 2024, Smith+Nephew announced the AETOS Shoulder System's complete commercial availability in the US. The business has also received 510(k) clearance for its usage in total shoulder arthroplasty procedures when combined with ATLASPLAN 3D planning software and patient-specific instruments.
- In Oct 2020, Olympus purchased FH ORTHO, an international orthopaedics company based in France, following the signing of a comprehensive deal between the two companies earlier this summer. Olympus made a firm commitment to increasing its involvement in the area of orthopaedic minimally-invasive surgery, and the acquisition played a significant role in advancing the company's progress towards this objective. The monetary amount of the acquisition was not revealed.
High Tibial Osteotomy Plates Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 231.75 Mn |
|
Revenue Forecast In 2031 |
USD 317.44 Mn |
|
Growth Rate CAGR |
CAGR of 4.07 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Technique, By Material, By End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Arthrex, Inc, SOFEMED International, SBM France, Hankiltech Medical Co., Ltd., Intercus, Neosteo, Amplitude Surgical, Newclip Technis, Smith & Nephew, Olympus Corporation, and Zimmer Biomet, DePuy Synthes (a Johnson & Johnson company), Stryker Corporation, CONMED Corporation, Wright Medical Group N.V. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
