Global Osteotomy Plates Market- 2020-2027
Global Osteotomy Plates Market is segmented By Material (Polymers, Metals (Titanium, Stainless steel, and others)), By Application (Knee surgery, Hip surgery, and others), By End-user (Hospitals, Clinics, and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027
The Global Osteotomy Plates Market is expected to grow at a high CAGR of 6.3% during the forecasting period (2020-2027).
Osteotomy plates are used to perform a surgical bone operation called osteotomy. The procedure is employed to lengthen or shorten the bone alignments to treat bone disorders like osteoarthritis, dysplasia, bone diseases, and bone injuries. The osteotomy plates eliminates the need for intraoperative contouring and reduces the soft tissue irritation. They have tapered ends which allows submuscular plate insertion. Also, the locking screws creates a fixed angle construct that provides the angular stability.
Source: Data M Intelligence Analysis (2019)
The global osteotomy plates market is driven by an increase in the incidence rate of bone-related disorders, rising geriatric population susceptible to bone diseases, growing preferences for surgical procedures, and the increasing number of road accidents.
The increasing incidence rate of bone-related disorders is expected to boost the market. Bone disorders such as osteoporosis is one of the common causes of fractures. According to the recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. Currently, it has been estimated that more than 200 million people have osteoporosis. Thus, the increasing incidence of bone disorders are driving the market.
The rising geriatric population is expected to boost the market. The aged population is more prone to various physical and psychological, changes leading to age-associated diseases of bone such as arthritis, and osteoporosis. As per Department of Economic and Social Affairs Population Division of United Nations, 2017, the world's population who are 60 years old will double and those of 80 years old will triple during the next 30 years. As per WHO, the number of people of age 65 or older is expected to grow to around 1.5 billion in 2050, with most of the increase in the developing countries. Thus, the increasing geriatric population will upsurge the need for osteotomy procedures, thereby boosting the market growth for osteotomy plates.
The increasing number of road accidents is expected to boost the market. For instance, according to the Annual Global Road Crash Statistics, nearly 1.25 million people die in the road crashes each year, on average, 3,287 deaths a day. Also, an additional 20-50 million are injured or disabled. Road crashes cost around USD 518 billion globally, costing individual countries from 1-2% of their annual GDP. Unless action is taken, road traffic injuries are predicted to become the fifth leading cause of death by 2030. Thus, the increasing number of road accidents, leading to increased cases of bone surgeries are driving the market.
Also, the presence of recent advances in osteotomy plates is expected to boost the market. Nitinol is a nickel-titanium alloy with shape-memory properties, which facilitates maintaining a continuous compressive force to fracture surfaces. The use of Nitinol staples for osteotomy procedures also ensures a good approximation of bone fragments, dynamic compression of fracture surfaces, and reduces incidences of nonunion. These advantages make Nitinol staples a valuable implant material, and several manufacturers are adding it to their portfolio. For instance, DynaNite® Nitinol Staple for Akin Osteotomy of Arthrex is one of a kind. Thus, the presence of recent advancements in the osteotomy plates is driving the market.
However, the high cost of osteotomy procedure and complications associated with osteotomy process are expected to hamper the market. Complications related to osteotomy procedures include nerve damage, bleeding, blood clots, infections, lack of full range motion, scar formation, development of arthritis, and reinjuries to the soft tissue or joint.
By material, the global osteotomy plates market is segmented into metal osteotomy plates and polymer osteotomy plates. The metal osteotomy plates are further segmented into titanium osteotomy plates and stainless steel osteotomy plates.
The metal osteotomy plates segment is expected to boost the market. This is owing to the presence of research activities and the available products in the market. The metal osteotomy plates are used to maintain the correct realignment achieved at surgery while the bone heals. For instance, the NHS Health Research Authority has started a REMATCH study, in 2017, which aimed to compare two different plates named TomoFix and ActivMotion plating systems, currently used in high tibial osteotomy (HTO) surgery (knee realignment). From the findings, they have reported that the ActivMotion plate design is smaller than the Tomofix and is therefore potentially less likely to cause the discomfort related to the plate. It is expected that second operations for plate removal will be less frequent than for the Tomofix plate. Thus, the presence of research activities pertaining to the metal osteotomy plates is driving the market.
The polymer osteotomy plates segment is expected to grow at a high rate over the forecast period. This is owing to the rising prevalence of osteoporosis, increasing geriatric population, and technological advancements in polymer osteotomy plates segment with reduced complications. Also, the high adoption of these plates and the application of marketing strategies by critical vendors fosters the growth of the osteotomy plates market.
Traditional opening wedge HTO performed with the metal plates has several limitations, like obscuration of detail on magnetic resonance imaging, hardware irritation, and complexity of revision surgery. Recently, an all-polyetheretherketone (PEEK) HTO implant was launched, named Arthrex PEEKPower™ HTO Plate in 2017. It is the first multi-directional angle stable HTO plate made of carbon-reinforced PEEK and provides an outstanding biomechanical property, excellent biocompatibility, and an anatomically adopted design. The radiolucent material properties of the plate ensure a clear view of the osteotomy. Also, the PEEKPower, HTO System supports the surgeons to gain a safe and successful operation to achieve an appropriate realignment and the pain reduction for the patient. Thus, the growing number of product launches to meet the increasing demand for the rising incidence of bone-related diseases is driving the market.
Source: DataM Intelligence Analysis (2019)
By application, the global osteotomy plates market is segmented into knee surgery, hip surgery, and other applications. The knee surgery segment, based on technique, is further segmented into dome technique, chevron osteotomy, closed wedge technique, open wedge technique, and others.
The knee surgery segment is expected to boost the market, owing to the increased adoption of High tibial osteotomy procedures. Increasing prevalence of the orthopedic conditions driven by various factors like age, road accidents, and inheritance is the major driving factor for high tibial osteotomy (HTO) plates worldwide. 3D printing technology is rapidly growing as an attractive option for coupling with HTO, to attain superior results post-surgery with an additional benefit of high accuracy. Thus, the increasing adoption of high tibial osteotomy procedures and the technological advancements in osteotomy is driving the market.
Hip surgeries segment is expected to boost the market. This is owing to the increasing prevalence of bone-related diseases and the use of osteotomy procedures in hip surgeries. Abnormal development in the hip joint in the adolescents and the young adults is more common. The condition may lead to hip dysplasia and hip impingement and usually requires surgery to correct the problem. For instance, according to an article posted in Birmingham Medical News in 2018, periacetabular osteotomy for hip dysplasia is expected to prevent the joint replacement. Thus, the increasing adoption of osteotomy in hip surgeries is driving the market.
North America is dominating the global osteotomy plates market in 2018 and estimated to hold significant market size over the forecast period (2020-2027) owing to due to the rising bone-related diseases, increasing cases of surgical procedures for bone-related diseases and high buying power of consumers.
The rising incidence of bone-related diseases is expected to boost the market. For instance, according to the CDC, in the US, 23% of all adults, about 54 million people, have arthritis. Also, it is a leading cause of disability. The annual direct medical costs are approximately 81 billion in the US. Also, by 2040, an estimated 78 million US adults aged 18 years or older are projected to have doctor-diagnosed arthritis. Thus, the increasing incidence of bone-related diseases is driving the market.
The presence of government organizations aiding in bone-related disease management is expected to boost the market. For instance, Osteoporosis advocacy in the US, led by the National Osteoporosis Foundation (NOF), is the nation's leading health organization dedicated to osteoporosis and bone health. NOF delivers information and resources to help the patients and health professionals, fosters the understanding of osteoporosis risk factors and the prevention and treatment options, drives quality and patient access to care, and works to advance medical research. Also, BoneSource, a NOF's professional program, promotes excellence in the clinical care for all the healthcare professionals involved in the diagnosis, prevention, and treatment of osteoporosis. Thus, the presence of government organizations aiding in bone health management, leading to increasing awareness among the key players to manufacture osteotomy plates is driving the market.
Source: Data M Intelligence Analysis (2019)
The key players operating in the global osteotomy plates market are Arthrex, Inc., Acumed, LLC, Johnson & Johnson, FH Orthopedics, B. Braun Melsungen AG, Zimmer Biomet, Stryker Corporation, Wright Medical Group N.V., OrthoPediatrics Corp., and Amplitude Surgical.
The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the osteotomy plates market globally. For instance,
In 2019, Zimmer Biomet launched the Stratum Foot Plating System, a plate and screws construct indicated for the fixation of fractures, osteotomies, malunions, non-unions, and fusions of small bones and small bone segments, particularly in osteopenic bone.
In 2018, FDA cleared Centric Medical’s Foot and Ankle Plating System. The system is indicated for use in the stabilization and fixation of fractures or osteotomies, intra and extra-articular fractures, and multifragmentary fractures, joint fusions, and the reconstruction of the bones of small bones of the feet, toes, and ankles including the talus, distal tibia, and calcaneus.
In August 2017, Zimmer Biomet Holdings Inc. announced the official launch of its Vitality+ and Vital Spinal Fixation Systems in the US at the 2017 North American Spine Society (NASS) Annual Meeting. Vitality+ PSO is used for the optimal pedicle subtraction osteotomy and vertebral column resection procedures.
In 2017, Materialise launched the 3D-Printed, patient-specific osteotomy guides for children of seven years, to help the orthopedic surgeons understand and execute even the most complex cases.
On January 4, 2017, OrthoPediatrics Corp. launched the Distal Femoral Osteotomy System (DFOS). The system includes implants to treat several distal femoral conditions, including flexion contracture, which is common in patients with Cerebral Palsy. Also, the system can be used to correct varus and valgus knee deformities.
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