Selbyville, Delaware, Feb. 17, 2021 (GLOBE NEWSWIRE) --
According to latest report “High Tibial Osteotomy (HTO) Plates Market by Technique (Open Wedge Technique, Closed Wedge Technique, Progressive Callus Distraction, Chevron Osteotomy, Dome Technique), Material (Metal {Titanium, Stainless Steel}, Polymer), End-use (Hospitals, Clinics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of high tibial osteotomy plates will cross $267 million by 2027.
Rising geriatric population coupled with increasing bone related disorders in various countries will boost the market growth. According to the Arthritis Foundation report in 2019, more than 200 million women suffer from osteoporosis globally. Also, the report stated that 1 in every 3 postmenopausal women suffer from osteoporosis in U.S. and Europe. Thus, rising geriatric population will be responsible for the major increase in the global number with individuals suffering from such disease. This will rise the product demand, thereby augmenting the market expansion.
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The progressive callus distraction segment in the high tibial osteotomy plates market is estimated to reach USD 36.3 million by 2027. Progressive callus distraction is also referred to as distraction osteogenesis or callostasis. The main aim of callus distraction is to stimulate the proliferation of osteogenic elements by increasing the biosynthetic activity of the cellular components in order to rapidly obtain bony tissue. The callus distraction technique is widely used in ankle, foot and lower leg surgeries. Thus, owing to the above factors, the usage of HTO plates in such surgeries will increase the product demand and drive the segment growth.
The metal segment dominated around 89% of the high tibial osteotomy plates market share in 2020 led by various advantages associated with metals such as stable fixation quality, lower rates of fracture, and flexibility & biocompatibility. This makes metals as preferred and standard choice of material by most of the companies. Furthermore, the metal high tibial osteotomy plates are further bifurcated into titanium and stainless steel. The titanium tibial opening wedge osteotomy plates feature a 4-hole design and are available with either a straight or sloped tooth to change or preserve the native tibia. Also, stainless steel plates are optimal for unique anatomy where customizing fit with multiple bends may be required. These advantages of metals will spur the segment expansion.
The hospital will showcase growth of 5.8% through 2027. Advancement in technology along with availability of high-quality medical equipment as well as skilled orthopedic surgeons will increase the patient preference towards hospital. Also, increase in hospital admission for various treatment and surgeries including knee arthroplasty and osteoarthritis (OA) among others will influence the segment demand. Moreover, government initiatives pertaining to knee surgeries and related procedures will fuel the market value.
Asia Pacific high tibial osteotomy plates market is projected to attain a CAGR of 7.9% till 2027 on account of large population base susceptible to arthritis in countries such as India, China and Japan. For instance, according to the National Health Portal of India, osteoarthritis is one of the most common rheumatological disorders, accounting for about 25% to 30% of the total population. This incidence rate is due to sedentary and aging lifestyle. Thus, rising prevalence of such disease will increase the product demand and propel the regional growth. Additionally, rise in awareness towards HTO procedure and surge in disposable income will foster the market demand.
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A few notable companies operating in the high tibial osteotomy plates market include Arthrex, Inc., Zimmer Biomet, Integra Lifesciences Corporation and Smith & Nephew among others. These industry players are focusing on various business strategies such as acquisitions, business expansion and novel product launches to consolidate their market presence and competition.
Table of Contents (ToC) of the report:
Chapter 3 High Tibial Osteotomy Plates Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By technique
3.4.2 By material
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2019
3.8 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/high-tibial-osteotomy-hto-plates-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.