High Tibial Osteotomy Plates Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
High Tibial Osteotomy Plates Market Analysis
The high tibial osteotomy plates market is expected to record a CAGR of 6% during the forecast period.
The COVID-19 pandemic had a major impact on the high tibial osteotomy plates market. Orthopedic procedures were postponed at the beginning of the pandemic as the hospitals and surgeons were advised to postpone or cancel elective procedures, including osteotomy surgeries. In January 2021, the Centers for Medicare and Medicaid Services (CMS) and several organizations, such as the American College of Surgeons (ACS) and the American Society of Anesthesiologists (ASA), recommended the interim cancelation of elective surgical procedures in response to the COVID-19 pandemic. Most of the orthopedic facilities were converted to COVID-19 hospitals and clinics. These factors resulted in a decrease in the number of osteotomy surgeries performed across the world, thereby affecting the demand for high tibial osteotomy plates. However, the market’s growth is stabilizing post-pandemic as the worldwide restrictions have eased down and disease screening services have been resumed.
The market’s growth can be largely attributed to factors such as the increasing incidence rate of musculoskeletal conditions, rising sports-related activities and road injuries, and recent advances in osteotomy plates. These factors are leading to increasing demand for high tibial osteotomy plates.
The increasing incidence rate of musculoskeletal conditions is contributing to the rising number of high tibial osteotomy surgeries. High tibial osteotomy is performed to reshape the tibia and relieve pressure if osteoarthritis has damaged one side of the knee in patients. Thus, patients suffering from musculoskeletal disorders, such as Blount’s disease and knee osteoarthritis, are recommended to undergo high tibial osteotomy surgery. According to the WHO 2021 statistics, an estimated 1.71 billion people suffer from musculoskeletal disorders worldwide. Thus, the increasing musculoskeletal disorders are contributing to the increasing adoption of high-tibial osteotomy procedures, driving the demand for high-tibial osteotomy plates. The prevalence of osteoarthritis increases with age and generally afflicts people over the age of 50. Such numbers indicate that the anticipated rise in cases of arthritis across the world may fuel the demand for high tibial osteotomy plates in healthcare facilities.
Recent advances in osteotomy plates are anticipated to fuel the demand for high-tibial osteotomy plates. Currently preferred surgical procedures involving high tibial osteotomy (HTO) plates have a low overall accuracy, which indicates the growing developments in high-accuracy modern HTO surgeries. Implementing 3D printing technology in manufacturing HTO plates offers high accuracy with superior results. For instance, in 2021, the University of Bath’s Centre for Therapeutic Innovation (CTI), United Kingdom, introduced the world’s first 3D printed high tibial osteotomy device and procedure given for approval for trials in the United Kingdom. It is a personalized early knee osteoarthritis treatment developed by engineers at the University of Bath’s Centre for Therapeutic Innovation (CTI). It uses state-of-the-art 3D metal printing technology to make personalized medical-grade titanium-alloy plates. The Tailored Osteotomy for Knee Alignment (TOKA) treatment improves the operative procedure to realign a patient’s knee, making them comfortable, stable, and better to bear weight than existing generic plates. Such advances are anticipated to boost the demand for high tibial osteotomy plates. Thus, due to the aforementioned factors, the market studied is anticipated to witness significant growth over the forecast period.
However, complications associated with the procedure, such as blood clots, infection, lack of range of motion (ROM), and the high cost of osteotomy surgery, are some factors impeding the market’s growth.
High Tibial Osteotomy Plates Market Trends
This section covers the major market trends shaping the High Tibial Osteotomy Plates Market according to our research experts:
Opening Wedge Osteotomy Segment is anticipated to Witness a Significant Growth
The opening wedge osteotomy segment is anticipated to register significant growth. The technique involves an incision made on the inside of the knee to replace a bone graft into the tibia bone. This graft is made to hold in place with metal plates and screws. It involves an incision inside the knee to place a bone graft into the tibia. It is an established procedure to treat patients suffering from osteoarthritis of the knee in combination with various deformities. Opening wedge osteotomy is preferred for the treatment of miserable misalignment syndrome.
For patients suffering from arthritis, the procedure aims to slow the degeneration process to relieve pain and correct the lower extremity alignment by reducing the effective load. According to the CDC, in October 2021, about 1 in 4 United States adults (23.7%), or about 58.5 million people, have doctor-diagnosed arthritis. According to the Government of Canada, in September 2021, 374,000 (1.2%) Canadians aged 16 years and older live with diagnosed rheumatoid arthritis. Thus, with the estimated increase in arthritis incidence, the number of people suffering from osteoarthritis is also anticipated to increase, augmenting the demand for opening wedge osteotomy.
Elder people are prone to suffer from bone-related deformities. According to the World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as that of children under age 12. Therefore, with the anticipated increase in the population, the adoption of the opening wedge osteotomy technique is anticipated to increase. Thus, due to the aforementioned factors, the market studied is expected to grow significantly over the forecast period.
North America is Anticipated to Register a Significant Growth in High Tibial Osteotomy Plates Market
The contribution of the North American segment to the high tibial osteotomy plate market's growth is expected to be high during the forecast period. The major factors contributing to the growth of the market in the region are increasing incidences of bone-related disorders and developed healthcare infrastructure.
According to the article published by the Frontiers in Physiology in July 2022, musculoskeletal disorders are one of the most commonly reported medical conditions and are the leading cause of disability in the United States, as they account for more than half of chronic conditions in people over age 50. The increasing incidence of road accidents leading to amputations is also anticipated to propel the market's growth over the forecast period. For instance, according to the data published by the National Highway Traffic Safety Administration in the United States, in May 2022, traffic fatalities witnessed an increase of 10.5% in 2021 from the previous year. It also reported that fatalities on urban roads increased from 57.0% in the previous year to 62.0% in March 2021, a 5.0% increase. Hence, such factors are expected to increase the demand for high tibial osteotomy, driving the market's growth over the forecast period.
The increasing number of road injuries and a significant increase in sports-related activities is leading to an increase in the number of people undergoing high tibial osteotomy procedures in the region. These factors are fuelling the demand for high tibial osteotomy plates in healthcare facilities in North America. Technologically advanced infrastructure and increasing research and development in the region are also anticipated to propel the demand for high tibial osteotomy plates.
Hence, due to the above-mentioned factors, the market studied in the United States is expected to witness significant growth over the forecast period.
High Tibial Osteotomy Plates Industry Overview
The high tibial osteotomy plates market is nearly consolidated with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are Johnson & Johnson, Arthrex Inc., Smith & Nephew, B. Braun Melsungen AG, and Stryker Corporation.
High Tibial Osteotomy Plates Market Leaders
Arthrex, Inc.
Smith & Nephew
B. Braun Melsungen AG
Johnson & Johnson
Stryker Corporation
*Disclaimer: Major Players sorted in no particular order
High Tibial Osteotomy Plates Market News
- In November 2020, Olympus Corporation acquired GROUPE FH ORTHO. The acquisition of GROUPE FH ORTHO strengthened the sales channels by expanding the distribution of both Olympus’ orthopedic products via GROUPE FH ORTHO’s existing distribution channels and specific products in Japan.
- In September 2020, Smith & Nephew acquired Integra LifeSciences Holdings Corporation’s extremity orthopedics business. The acquisition strengthened the company’s business by expanding the product pipeline with a focused sales channel.
High Tibial Osteotomy Plates Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence Rate of Musculoskeletal Conditions
4.2.2 Rising Number of Sports-Related Activities
4.2.3 Recent Advances in Osteotomy Plates
4.3 Market Restraints
4.3.1 High Cost Associated with Osteotomy Surgery
4.3.2 Complications Associated with the Procedure
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Material
5.1.1 Metal
5.1.2 Polymer
5.2 By Technique
5.2.1 Opening Wedge Osteotomy
5.2.2 Closing Wedge Osteotomy
5.2.3 Other Techniques
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Johnson & Johnson
6.1.2 Arthrex Inc.
6.1.3 Zimmer Biomet
6.1.4 Stryker Corporation
6.1.5 Smith & Nephew
6.1.6 AMPLITUDE
6.1.7 Integra LifeSciences
6.1.8 B. Braun Melsungen AG
6.1.9 INTERCUS GmbH
6.1.10 NEOSTEO
6.1.11 Acumed
6.1.12 Novastep Inc.
6.1.13 NEWCLIP TECHNICS
6.1.14 SBM France
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
High Tibial Osteotomy Plates Industry Segmentation
As per the scope of the report, a high tibial osteotomy can be defined as a surgical procedure performed to correct angular deformities of the knee, such as varus and valgus deformities associated with osteoarthritis. It involves the incorporation of osteotomy plates in the lower limbs and is widely used in the treatment of knee arthrosis and other disorders.
The high tibial osteotomy plates market is segmented by material (metal and polymer), technique (opening wedge osteotomy, closing wedge osteotomy, and techniques), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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| Opening Wedge Osteotomy | |
| Closing Wedge Osteotomy | |
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High Tibial Osteotomy Plates Market Research FAQs
What is the current High Tibial Osteotomy Plates Market size?
The High Tibial Osteotomy Plates Market is projected to register a CAGR of 6% during the forecast period (2023-2028).
Who are the key players in High Tibial Osteotomy Plates Market?
Arthrex, Inc., Smith & Nephew, B. Braun Melsungen AG, Johnson & Johnson and Stryker Corporation are the major companies operating in the High Tibial Osteotomy Plates Market.
Which is the fastest growing region in High Tibial Osteotomy Plates Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in High Tibial Osteotomy Plates Market?
In 2023, the North America accounts for the largest market share in the High Tibial Osteotomy Plates Market.
High Tibial Osteotomy Plates Industry Report
Statistics for the 2023 High Tibial Osteotomy Plates market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. High Tibial Osteotomy Plates analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
