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High Tibial Osteotomy Plates Market Analysis
- Report ID: GMI3958
- Published Date: Mar 2023
- Report Format: PDF
High Tibial Osteotomy Plates Market Analysis
High tibial osteotomy plates market from open-wedge technique segment accounted for business share of 53% in 2022 and is estimated to show significant growth during the forecast timeframe. Open wedge procedure involves few dissections and single bone cutting that increases patient recovery and compliance. This is due to effectiveness and simplicity of the procedure. Therefore, open-wedge technique is an effective procedure for restoring the coronal alignment & proximal tibiofibular joint, thereby fostering the segmental demand. Furthermore, fewer complications and high survival rate of open wedge will further increase the adoption rate, thereby supplementing the market growth during the analysis timeframe.
Based on material, the high tibial osteotomy plates market is divided into metal and polymer. The metal segment is expected to reach USD 322.2 million by 2032 growing at a CAGR of 4.4%. Metals are mostly preferred and standard choice of material for the development of HTO plates. These metal plates provide stable fixation that reduces the risk of non-union after HTO procedure. Additionally, metal plates are widely used to hold the wedged-open tibia in place while the bone heals. Thus, usage of metal plates in various HTO procedures will boost the high tibial osteotomy plates demand.
The end-use segment of high tibial osteotomy plates market is bifurcated into hospitals, clinics and others. The hospitals segment is expected to show steady growth of 3.9% during the analysis period. Increasing prevalence of osteoarthritis and knee surgeries in hospital setting will augment the industry growth. For instance, it is estimated that approximately 750,000 arthroscopic surgeries are performed in the U.S. every year. Moreover, presence of advanced medical equipment, skilled orthopaedic surgeons and advanced technology will further increase the preference of patients towards hospital, thereby fostering the market forecasts.
North America dominated the global high tibial osteotomy plates market with USD 101.2 million in 2022 and is anticipated to show steady growth during the forthcoming years. High growth rate is owing to the presence of well-established healthcare infrastructure and major market players in the region. Moreover, high prevalence of osteoarthritis in the region and a high number of arthroscopic surgeries will spur the demand for high tibial osteotomy plates.
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High Tibial Osteotomy Plates Market Scope
