The global osteotomy plates market reached a value of US$ 531.88 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 760.48 Million by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
Osteotomy represents the medical procedure involving the cutting of a bone to shorten or lengthen it. It generally includes hip, knee, jaw, and chin osteotomy to fix a defect that affects the growth of an individual. Osteotomy is used for improving several deformities of bones and joints while delaying the progression of conditions, such as arthritis, and relieving pain. In line with this, it is also utilized for treating bunions caused by the outward displacement of the first toe, which can be rectified by restoring its shape.
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Covid-19 Scenario: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The widespread adoption of surgical procedures for safer diagnosis and treatment of numerous diseases is primarily driving the osteotomy plates market. Additionally, the rising prevalence of sports-related injuries, owing to poor training methods, structural abnormalities, and weakness in tendons, muscles, ligaments, etc., is further catalyzing the market growth.
Besides this, the growing utilization of osteotomy plates to realign the knee of a patient is acting as another significant growth-inducing factor. Moreover, the increasing number of individuals who have musculoskeletal disorders, including fibromyalgia, knee osteoarthritis, Blount’s disease, myositis, etc., and osteoporosis, on account of the deficiency of calcium or vitamin D, is propelling the product demand.
Apart from this, the government bodies across various countries are extensively investing in healthcare infrastructures, which in turn, is anticipated to fuel the osteotomy plates market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
Aap Implantate AG, Acumed LLC (Colson Medical LLC), Amerisourcebergen Corporation, Amplitude Surgical, Arthrex Inc., B. Braun Melsungen AG, Integra LifeSciences, Johnson & Johnson, Medartis AG, OrthoPediatrics Corp., Stryker Corporation, TriMed Inc. and Zimmer Biomet.
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