Covina, March 21, 2023 (GLOBE NEWSWIRE) -- Demand for high tibial osteotomy plates is expected to increase as a result of recent advancements in osteotomy plates which drives High Tibial Osteotomy (HTO) Plates Market. The overall accuracy of currently recommended surgical procedures employing high tibial osteotomy (HTO) plates is low, indicating the growing development of high accuracy modern HTO surgeries. The use of 3D printing technology in the production of HTO plates leads in great precision and improved results. For instance, in 2021, the Centre for Therapeutic Innovation (CTI) at the University of Bath in the United Kingdom introduced the world's first 3D printed high tibial osteotomy device and method, which was approved for trials in the United Kingdom. It's a tailored early knee osteoarthritis treatment created by engineers at the University of Bath's Centre for Therapeutic Innovation (CTI) that makes personalised medical-grade titanium-alloy plates using state-of-the-art 3D metal printing technology. The TOKA treatment enhances the operating method for realigning a patient's knee, making it more pleasant, stable, and weight-bearing than conventional generic plates. More advancements like these are expected to occur in the future, boosting demand for high tibial osteotomy plates. As a result of the aforementioned factors, the market is expected to increase significantly during the forecast period. igh tibial osteotomy procedure is widely used for the treatment of knee arthrosis. In addition, HTO uses a variety of procedures, including closed wedge, open wedge, and progressive callus distraction. The market rise because to an increasing geriatric population that is prone to different bone-related illnesses. During the projected period, an increase in the incidence and prevalence of arthritis among individuals is expected to drive market growth. High tibial osteotomy is performed to reshape the tibia and also relieve pressure of osteoarthritis has damaged one side of knee. Patients with musculoskeletal diseases such knee osteoarthritis and Blount's disease may benefit from high tibial osteotomy surgery.
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Region Analysis:
The incidence of osteoarthritis and osteoporosis is higher in North America. HTO plates are frequently utilised in the treatment of osteoporosis patients. As a result, the rising frequency of this condition in North American countries is likely to promote market growth for high tibial osteotomy plates throughout the forecast period. Other reasons that are projected to boost the high tibial osteotomy plates market in this region are the low cost of high tibial osteotomy and improvements in health care infrastructure.
Key Development:
- Olympus Corporation announced the acquisition of GROUPE FH ORTHO in November 2020. The acquisition of GROUPE FH ORTHO strengthened the sales channels by expanding the distribution of both Olympus' orthopaedic products and particular products in Japan through GROUPE FH ORTHO's existing distribution networks.
- Smith & Nephew bought Integra LifeSciences Holdings Corporation's extremities orthopaedics business in September 2020. The acquisition bolstered the company's operations by expanding the product pipeline and providing a targeted sales channel.
Scope of the Report:
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for High Tibial Osteotomy (HTO) Plates Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global High Tibial Osteotomy (HTO) Plates Market, By Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Metals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Polymers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global High Tibial Osteotomy (HTO) Plates Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Clinics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
Segmentation:
The global High Tibial Osteotomy (HTO) Plates market accounted for US$ 303.54 million in 2020 and is estimated to be US$ 468.39 million by 2030 and is anticipated to register a CAGR of 4.5%. The Global High Tibial Osteotomy (HTO) Plates Market is segmented by Type, application, and Region.
- By Type, Global High Tibial Osteotomy (HTO) Plates Market is segmented into Metals and Polymers.
- By Application, Global High Tibial Osteotomy (HTO) Plates Market is segmented into Hospitals and Clinics.
- By Region, Global High Tibial Osteotomy (HTO) Plates Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has higher incidence of osteoporosis and osteoarthritis cases.
Competitive Analysis:
- DePuy Synthes (Johnson & Johnson)
- Arthrex
- aap Implantate AG
- Stryker Corporation
- Braun Melsungen AG
- Wright Medical Group N.V.
- Acumed
- TriMed
- Tornier
- Medical & Optical Instruments Australia Pty Ltd.
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What are the challenges faced by the High Tibial Osteotomy (HTO) Plates Market, and how can they be addressed?
The High Tibial Osteotomy (HTO) Plates Market faces several challenges, including:
- Limited awareness among patients and healthcare providers: Lack of awareness about HTO surgery and the benefits of using HTO plates is one of the primary challenges. Education and awareness campaigns can help address this issue.
- High cost: The cost of HTO surgery and the HTO plates is relatively high, which limits its adoption, especially in developing countries. Increased competition among manufacturers can help reduce the cost of HTO plates.
- Technical complexities: HTO surgery is technically challenging, and the success of the surgery depends on several factors, including the patient's anatomy, surgeon's experience, and the type of HTO plate used. Continued training and education of surgeons can help address this issue.
- Limited reimbursement policies: Limited reimbursement policies for HTO surgery and HTO plates can limit their adoption. Efforts should be made to increase the reimbursement rates to encourage more patients to undergo the procedure.
- Alternative treatment options: Alternative treatment options, such as knee replacement surgery, can compete with HTO surgery and limit its adoption. Continued research and development of HTO plates can help improve their efficacy and reduce complications, making them a more attractive option for patients.
What are the key trends and opportunities in the High Tibial Osteotomy (HTO) Plates Market?
Some of the key trends and opportunities in the High Tibial Osteotomy (HTO) Plates Market include:
- Advancements in HTO plate technology: Continuous advancements in HTO plate technology are expected to drive growth in the market. For example, the development of new materials and designs that offer improved stability and reduce the risk of complications.
- Increasing demand for minimally invasive surgeries: There is an increasing demand for minimally invasive surgeries, and HTO plates offer a less invasive alternative to traditional knee replacement surgery. This trend is expected to drive growth in the HTO plates market.
- Growing prevalence of knee osteoarthritis: Knee osteoarthritis is a leading cause of disability worldwide, and the increasing prevalence of this condition is expected to drive demand for HTO surgery and HTO plates.
- Rising healthcare expenditure: As healthcare expenditure continues to rise globally, patients are increasingly willing to spend more on treatments that offer improved outcomes. This trend is expected to drive demand for HTO plates, which can offer improved outcomes compared to alternative treatments.
- Growing adoption of outpatient procedures: As more procedures are performed on an outpatient basis, HTO surgery is becoming a more attractive option for patients. HTO plates can offer improved outcomes and a shorter recovery time, making them a more attractive option for outpatient procedures.
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