Bone-related Disorders Fuel the Growth of Osteotomy Plates Market | Industry Analysis 2023

Osteotomy plates are used during osteotomy surgical procedures. These devices are metal plates that fix a patient's damaged bones caused by osteoarthritis, dysplasia, bone diseases and bone injuries. The main factor that contributes to the growth of the market includes the increase in the incidence rate of bone-related disorders caused by changes in lifestyle and inadequate diet.

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In addition, the increase in the aging of the population, the increase in the incidence of traffic accidents and the increase in preferences for surgical treatments further increase market growth. The global osteotomy plates market was valued at $506 million in 2016 and is expected to reach $678 million by 2023, growing at a CAGR of 4.2% from 2017 to 2023.

However, the high cost of osteotomy procedures and associated complications prevent market growth. It is expected that the increase in health care infrastructure, disposable income and untapped market opportunities in developing regions will provide numerous opportunities for market growth.

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Major Players:

• Arthrex Inc.
• Acumed LLC
• Johnson & Johnson
• GROUP FH ORTHO
• B. Braun Melsungen AG
• Zimmer Biomet
• Stryker Corporation

It is expected that the segment of metal osteotomy plates maintains its dominant position during the period of analysis, due to the increase in the prevalence of osteoporosis, the increase in the geriatric population, the high demand for biocompatible products and the increase in accidents that cause injuries related to bones. In addition, osteotomy plates are crucial for the treatment of bone injuries in patients to correct bone deterioration.

Key Findings of the Osteotomy Plates Market:

•The segment of metal osteotomy plates accounted for around four fifths of the global market for osteotomy plates in 2016

•The segment of polymer osteotomy plates is expected to grow at a CAGR of 7.2% from 2017 to 2023

•The segment of hip surgery accounted for around two fifths of the global osteotomy plate market in 2016

•The European region accounted for approximately one quarter of the global osteotomy plate market in 2016

•Asia-Pacific is expected to grow to the highest CAGR of 6.8%, from 2017 to 2023

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