The key contributing factor to market growth includes the ever-increasing cases of bone disorders across the globe. Factors such as a change in lifestyle and improper diet, contribute extensively to the increase in the number of patients suffering from bone deformities. Moreover, a significant rise in the demand for biocompatible products is set to propel the market growth in the coming years.
The major companies profiled in the global High Tibial Osteotomy (HTO) Plates Market report include DePuy Synthes (Johnson & Johnson), Arthrex, Inc., Zimmer Biomet, aap Implantate AG, Stryker Corporation, B. Braun Melsungen AG, Smith & Nephew, Wright Medical Group N.V., Acumed, LLC, and Amplitude Surgical. The other players operating in the global high tibial osteotomy (HTO) plates market include TriMed, Inc., Tornier, Inc., Medical & Optical Instruments Australia Pty Ltd, Novastep Inc., Integra LifeSciences Corporation, Securos, BioTek Instruments, Inc., GROUP FH ORTHO, B, and OrthoPediatrics Corp.
The global High Tibial Osteotomy (HTO) Plates Market generated $215 million in 2016 and is expected to reach $269 million by 2023, registering a CAGR of 3.2% from 2017 to 2023. High tibial osteotomy (HTO) is an orthopedic surgical procedure that is being increasingly used for the treatment of knee arthrosis. Research activities concluded that HTO is a potential treatment method for these patients with good long-term results. However, appropriate patient selection as well as precise surgical technique are imperative for maintaining the efficacy of the procedure.
The key contributing factor to the market growth includes the ever-increasing cases of bone disorders across the globe. Factors such as change in lifestyle and improper diet, contribute extensively to the increase in number of patients suffering from bone deformities. Moreover, significant rise in the demand for biocompatible products is set to propel the market growth in the coming years.
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The global HTO plates market is segmented based on material, technique, and region. By material, the market is bifurcated into metals and polymers. Based on technique, it is classified into open wedge technique, closed wedge technique, and other. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on material, the high tibial osteotomy (HTO) plates market is bifurcated into metals and polymers. The metal HTO plates majorly consist of titanium and stainless-steel. The metal segment generated the highest revenue in 2016 and is expected to maintain its dominance throughout the forecast period. Whereas, the polymers material segment is expected to grow at the fastest pace.
Based on technique, the high tibial osteotomy (HTO) plates market is classified into open wedge technique, closed wedge technique, and others. The open wedge technique is the predominant technique used for performing high tibial osteotomy, and hence, generated the highest revenue in 2016. It is expected to remain dominant throughout the forecast period, whereas, closed wedge technique is expected to grow at a rapid pace during the forecast period.
North America leads the global high tibial osteotomy (HTO) plates market, which is majorly attributed to the significant rise in the number of osteoporosis and osteoarthritis cases over the years. Whereas, Asia-Pacific is expected to witness fastest growth during the forecast period.
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Key Findings of the High Tibial Osteotomy (HTO) Plates Market:
- Based on material, the metal segment dominated the high tibial osteotomy (HTO) procedures in 2016 and is expected to remain dominant throughout the analysis period.
- Based on technique, the open wedge technique segment dominated the high tibial osteotomy (HTO) procedures in 2016 and is expected to maintain this dominance throughout the analysis period.
- North America dominated the market, accounting for maximum share of the overall market in 2016.
- Germany was the highest contributor to the European high tibial osteotomy (HTO) plates market in 2016 and is expected to maintain this dominance throughout the forecast period.
Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to its high population base, surge in disposable income, and rise in awareness toward high tibial osteotomy (HTO) techniques available in the market. In addition, Japan is the major contributor to the Asia-Pacific high tibial osteotomy (HTO) plates market throughout the analysis period.
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