High Tibial Osteotomy Plates Market size worth over $267mn by 2027

High Tibial Osteotomy (HTO) Plates Market size is set to surpass USD 267 million by 2027, according to a new research report by Global Market Insights, Inc.
 

Increasing bone-related disorders such as arthritis, fractures and bursitis among others will foster the high tibial osteotomy plates market growth. For instance, osteoarthritis affects 7% of the global population, accounting for more than 500 million people. This will increase the product demand and will spur the market expansion. However, the market has witnessed significant dip in 2020 owing to the overall decrease in the number of high tibial osteotomy procedures. The decline in the procedures is attributed to the COVID-19 pandemic as various healthcare settings underwent re-structuring and re-prioritized the surgeries to be performed. As high tibial osteotomy procedure is not a critical or life-saving procedure, it was postponed or cancelled, and the patients were advised to manage pain via medication. Thus, the COVID-19 outbreak has shown negative impact on the market. However, with the number of infections decreasing, the surgeries are likely to return to pre-COVID levels, thus ensuring the steady market normalization.  

 

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High tibial osteotomy plates market is poised to grow exponentially led by rising number of accidents and sports related injuries. Osteoarthritis and road traffic injuries are considered as a significant and critical public health issue in the U.S. According to World Health Organization (WHO) estimates, approximately 35 million people suffer from non-fatal injuries every year. The report also stated that nearly 4.4 million people are injured and seek for immediate medical attention in U.S. Similarly, as per the Sports Injury Statistics by Johns Hopkins Medicine, around 30 million teens and children participate in some form of organized sports in U.S. and more than 3.5 million suffer from injuries every year. These injuries require osteotomy plates in the procedures for quick healing and prevention of subsequent injuries. Thus, growing cases of road accidents will drive the adoption of osteotomy plates that will further accelerate the industry growth of high tibial osteotomy plates.
 

Increasing complications associated with HTO procedure will negatively impact the market value

The most common complications of HTO procedure include arthrofibrosis, valgus or varus overcorrection, extension loss and non-union injury. Moreover, knee reconstructive procedures may also increase this complication rate by prolonging the operative time and making the rehabilitative process more difficult. For instance, the major complication such as intra-articular fracture and severe pain over the buttress plates occurs at a rate of 5% to 8% after the surgery. Thus, widespread use has brought about a series of unique complications that may hamper the market revenue. The open wedge and closed wedge technique associated with HTO procedures has a series of moderate frequency of complications that may hamper the market demand.
 

Closed wedge osteotomy technique is one of the most widely used technique for varus and valgus deformities that will boost the segment growth

Closed wedge technique segment held 19.8% of the high tibial osteotomy plates market share in 2020 impelled by various advantages associated with the technique. Closed wedge osteotomy achieves more accurate correction for both varus and valgus deformities in the management of isolated medial or lateral compartment gonarthrosis. This improves patient functions and reduces pain at a much faster pace.
 

Browse key industry insights spread across 115 pages with 201 market data tables & 16 figures & charts from the report,High Tibial Osteotomy Plates Market Size By Technique (Open Wedge Technique, Closed Wedge Technique, Progressive Callus Distraction, Chevron Osteotomy, Dome Technique), By Material (Metal {Titanium, Stainless Steel}, Polymer), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/high-tibial-osteotomy-hto-plates-market
 

Various advantages associated with polymer-based material will enhance the market growth

Polymer segment in the high tibial osteotomy plates market accounted for USD 7.7 million in 2020 and is expected to showcase 5.4% growth rate till 2027. Polymer based material offers advantages such as reduced stress-shielding effect and no interference with a radiological evaluation due to their radiolucent properties. Also, polymer material in osteotomy plates could degrade spontaneously after healing of the fractured bone.
 

Shortened stay and early mobilization of patients in clinics will influence the segment expansion

The high tibial osteotomy plates market for clinics end-use segment was valued at USD 13.6 million in 2020 and is projected to reach USD 54.5 million by 2027 propelled by increasing geriatric pool that are prone various bone-related disorders. Additionally, various advantages associated with the clinics such as shortened stay and early mobilization of patients will further foster the segment revenue over the coming years. Presence of skilled professionals and low cost of treatment procedures in the clinics are few of the other factors that will upsurge the segment value.
 

Rising bone disease burden among geriatric population in European region will increase the adoption of HTO plates

Europe high tibial osteotomy plates market is predicted to attain a CAGR of 6.4% through 2027 on account of growing geriatric population base that is prone to various bone related disease including osteoarthritis. According to the World Health Organization (WHO) report, by 2050 people aged over 60 years will account for more than 20% of the total European population. Among those 20%, an estimated 15% will suffer from symptomatic osteoarthritis. Thus, growing disease burden across the European region will increase the demand of HTO plates and spur the market growth in the near future. Furthermore, low cost of osteotomy procedures and increasing preference of plates in osteoarthritis surgeries will further create the growth opportunity for the market.
 

Companies undertake inorganic growth strategies to strengthen their business portfolio and revenue

The eminent companies operating in the high tibial osteotomy plates market include Zimmer Biomet, Smith & Nephew, Integra Lifesciences, and Arthrex, among others. These industry leaders focus on strategies such as innovative product development & launches, mergers & acquisitions and collaboration to garner more revenue and sustain market competition.
 

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