Global Osteotomy Plates Market to Reach US$ 933.8 Million by 2032, Impelled by Increasing Incidences of Road Accidents

According to the latest report by IMARC Group, titled "Osteotomy Plates Market Report by Material (Metal Osteotomy Plates, Polymer Osteotomy Plates), Application (Knee Surgery, Hip Surgery, and Others), End User (Hospitals, Clinics, Ambulatory Surgical Centers), and Region 2024-2032," the global osteotomy plates market reached a value of US$ 600.7 Million in 2023. Osteotomy plates are medical orthopedic devices widely used to reposition broken or fractured bones surgically. They are used to fix bones in their correct anatomical position by cutting and reshaping them. They are usually manufactured from stainless steel, titanium, or cobalt-chrome alloy and are designed to be implanted into the bones. Additionally, they are composed of two main components, namely the plate and the screws, wherein the plate is designed to fit the shape of the bone and serves as an anchor for the screws, which are used to hold the bone in its corrected position. They are used to fix bones that have been broken or fractured due to trauma. They also correct congenital deformities, including bowlegs, knock knees, and scoliosis. The plates aid in realigning bones after the removal of bone tumors or other bone lesions. They are typically placed on the bone's outer surface and held in place with screws. On the other hand, the screws are tightened to compress the bone and hold it in the desired position. In some cases, the screws may be removed after the bone has healed, while others may remain in place permanently. As a result, osteotomy plates are gaining widespread prominence across the globe as they are easily available in various shapes and sizes and can be custom-made to fit a particular bone type.

Global Osteotomy Plates Market Trends:

The rising number of surgical procedures performed by surgeons majorly drives the global market. This can be attributed to the growing incidences of osteoporosis on account of loss of tissue, calcium deficiency, and vitamin D deficiency. Due to the increasing geriatric population, there has been a considerable rise in the demand for osteotomy plates to help treat age-related conditions, including osteoarthritis and osteoporosis. Along with this, the increasing popularity of high-impact sports is leading to a rising prevalence of sports-related injuries, which is impacting the demand for osteotomy plates to help treat these injuries. In addition, the rising incidences of musculoskeletal disorders, such as Blount’s disease and knee osteoarthritis among the masses, are also positively influencing the market. Furthermore, continuous technological advancements in the field of orthopedics to develop more efficient and effective osteotomy plates are creating a positive market outlook. Some of the other factors driving the market include the escalating investment in healthcare infrastructure and significant growth in medical tourism. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 933.8 Million by 2032, exhibiting a CAGR of 4.9% during 2024-2032.

Market Summary:

• On the basis of the material, the market has been segmented into metal osteotomy plates (titanium osteotomy and stainless steel osteotomy plates), and polymer osteotomy plates.
• Based on the application, the market has been classified into knee, hip, and other surgeries.
• On the basis of the end user, the market has been segregated into hospitals, clinics, and ambulatory surgical centers.
• Based on the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
• 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 the 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.

Report Scope:

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