Newark, NJ, Oct. 25, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global high tibial osteotomy (HTO) plates market is expected to grow from USD 88.12 million in 2020 and reach USD 144.74 million by 2028, growing at a CAGR of 6.4% during the forecast period 2021-2028.
The high tibial osteotomy (HTO) plates market is witnessing significant growth from the past years. This growth is attributed to varus arthrosis, ACL deficiency, and medial compartment degenerative arthritis, as well as an increase in the number of knee osteoarthritis cases, varus malalignment, an increase in the geriatric population, and a preference for chevron osteotomy and other techniques such as closed wedge technique, progressive callus distraction, and dome technique, among others.
High tibial osteotomy (HTO) is a type of orthopedic surgery. The osteotomy plates prevent soft tissue irritation and eliminate the need for intraoperative contouring. They have tapered ends that enable the insertion of a submuscular plate. Furthermore, the locking screws form a fixed-angle structure that provides angular stability. The goal of HTO is to reduce knee discomfort and postpone knee replacement. The surgery is commonly used to treat knee arthrosis. Dome osteotomy, closing, opening wedge osteotomy, Chevron osteotomy, and progressive callus distraction are among HTO procedures. When choosing effective treatment for patients, the appropriate osteotomy type and correct surgical technique are critical.
The global high tibial osteotomy (HTO) plates market is expected to witness significant growth, owing to increasing rapidly growing geriatric population, increasing incidence and prevalence of bone-related disorders such as osteoarthritis and rheumatoid arthritis, the rising incidence of accidents and sports-related injuries worldwide is likely to fuel additional increase, ongoing research and development activities for the development of ways to reduce the problems associated with the HTO are also expected to generate potential demand during the forecast period. The factors restraining the market growth are surgical problems associated with high tibial osteotomy HTO and an increased desire for alternate treatment techniques.
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The major companies profiled in the report include DePuy Synthes (Johnson & Johnson), Arthrex, Inc., Zimmer Biomet, AAP Implantate AG, Stryker Corporation, B. Braun Melsungen AG, Smith & Nephew, Wright Medical Group N.V., Acumed.
- In October 2019, Zimmer Biomet launched the Stratum Foot Plating System. The screw-and-plate system is designed to heal osteotomies, non-unions, and fractures. This technique enabled the company to diversify its product portfolio and market consumer base.
- In October 2017, Arthrex announced plans to build a cutting-edge surgical device and implant manufacturing facility in North Carolina. The facility was created to encourage innovation and novel products such as high tibial osteotomy plates. This strategy benefited the firm in extending its product line, growing its market share, and reaching new economies.
Open Wedge Technique segment dominated the market and held the largest market share of 26.9% in the year 2020
The global high tibial osteotomy (HTO) plates market is segmented into five sub-segments based on technique. They are Open Wedge Technique, Dome Technique, Closed Wedge Technique, Chevron Osteotomy, Progressive Callus Distraction. The Open Wedge Technique segment dominated the market and held the largest market share of 26.9% in the year 2020. This expansion can be ascribed to an effective treatment for restoring coronal alignment and the proximal tibiofibular joint. The operation requires only a few dissections and a single bone cut, which improves patient recovery and compliance.
The metal segment dominated the market and held the largest market share of 60.25% in the year 2020
The global high tibial osteotomy (HTO) plate market is divided into two sub-segments based on material. They are Metal and Polymer. The metal segment dominated the market and held the largest market share of 60.25% in 2020. This growth is attributed to the presence of research efforts and the availability of items on the market. Metal osteotomy plates are used to keep the bone in the correct position after surgery while it heals.
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Regional Segment of High Tibial Osteotomy (HTO) Plates Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil & the Rest of South America)
- The Middle East and Africa (UAE, South Africa, and the Rest of MEA)
Based on geography, the global high tibial osteotomy (HTO) plates market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share of 26.66% in the year 2020. This growth is assigned to increased bone-related disorders, increased surgical operations for bone-related diseases, and consumer hg power. Growth would be achievable due to marketing analytics technologies and existing companies that have been firmly established in the market since its inception. Furthermore, government organizations, businesses, third-party administrations, and others focus their efforts on developing customer-centric goods, which will contribute to the region's progress. Rising demand, rising money, updated technology, machinery, and programs to raise awareness of the requirement will almost certainly drive the high tibial osteotomy (HTO) plates market to expand significantly. Because of its rapidly rising population, Asia-Pacific will likewise experience tremendous growth. This feature alone explains why the area will dominate the high tibial osteotomy (HTO) plate market share over the forecast period. The region has been urbanized to a greater extent due to gains in GDP per capita and infrastructure development, transforming rural areas into urban areas.
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About the report:
The global high tibial osteotomy (HTO) plates market is analyzed based on value (USD million). All the segments have been examined on a worldwide, regional, as well as the country basis. The study covers the analysis of more than 30 countries for each piece. The report offers a thorough analysis of driving factors, opportunities, restraints, and challenges for gaining crucial insights. The study includes porter's five forces model, raw material analysis, attractiveness analysis, and competitors’ position grid analysis.
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