The high tibial osteotomy plates market is expected to register a CAGR of more than 6% over the forecast period.
The emergence of the COVID-19 pandemic across the globe has had a major impact on the high tibial osteotomy plates market. The orthopedic procedures were postponed at the beginning of the pandemic as the hospitals and surgeons were advised to postpone or cancel the elective procedures, including osteotomy surgeries. In April 2020, 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 interim cancelation of elective surgical procedures in response to the COVID-19 pandemic. In addition, 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 globe, thereby impacting the demand for high tibial osteotomy plates.
The studied market growth can be largely attributed to the factors such as the increasing incidence rate of musculoskeletal conditions, rising number of sports-related activities and road injuries as well as recent advances in osteotomy plates. These factors are leading to increasing demand for high tibial osteotomy plates.
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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. As per the 2021 statistics by the World Health Organization (WHO), an estimated number of 1.71 billion people suffer from musculoskeletal disorders worldwide. Thus, the increasing musculoskeletal disorders is contributing to the increasing the adoption of high tibial osteotomy procedures that is increasing the demand for high tibial osteotomy plates. In addition, the prevalence of osteoarthritis increases with age and generally afflicts people over the age of 50. As per the 2019 statistics by the Arthritis Foundation, with increasing aging population, by 2050, about 130 million people will suffer from osteoarthritis worldwide, out of which, 40 million will be severely disabled by the disease. Such numbers indicate that the anticipated increase in number of people suffering from osteoarthritis worldwide will fuel the demand for high tibial osteotomy plates in healthcare facilities.
Also, 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 that indicates the growing developments in high accuracy modern HTO surgeries. Implementation of 3D printing technology in the manufacturing of HTO plates offers high accuracy with superior results. For instance, 2021, the University of Bath’s Centre for Therapeutic Innovation (CTI), United Kingdom, has 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) that 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. More such advances are anticipated to take place in future that will boost the demand for high tibial osteotomy plates market growth. Thus, in view of the aforementioned factors, the market is anticipated to witness significant growth over the forecast period.
High Tibial Osteotomy Plates Market
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