30 Jun REPORT: Osteotomy Plates Market to Reach $900.22m by 2030
Rise in the incidence of bone-related diseases caused by improper diet or unhealthy lifestyle and increase in the adoption of surgical procedures for safe diagnosis and treatment of bone-related diseases drive the growth of the global osteotomy plates market. North America accounted for the highest share in 2020, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2030.
Portland, OR, June 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global osteotomy plates marketgenerated $613.15 million in 2020, and is projected to reach $900.22 million by 2030, witnessing a CAGR of 3.9% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in the incidence of bone-related diseases caused by improper diet or unhealthy lifestyle, surge in number of road accidents, and increase in the adoption of surgical procedures for safe diagnosis & treatment of bone-related diseases drive the growth of the global osteotomy plates market. However, high cost of plates and complications associated with osteotomy processes such as infection at the site of surgery, issues of broken screws, inflammation of joint tissues, bleeding in the joints, and blood clotting restrain the market growth. On the other hand, increase in healthcare investment in developing nations, surge in the prevalence of osteoporosis, and technological advancements present new opportunities in the coming years.
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Covid-19 Impact Analysis:
- The number of patient visits to hospitals & clinics for osteotomy procedures reduced considerably during the Covid-19 pandemic. This led to reduction in the overall demand for osteotomy plates. However, the demand is expected to recover post-pandemic.
- In addition, according to the guidelines by the World Health Organization (WHO), only essential procedures were conducted during the pandemic. Many hip and joint reconstructions surgeries that were termed as non-essential were postponed. This also impacted the demand for osteotomy plates.
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The report offers detailed segmentation of the global osteotomy plates market based on material, application, end user, and region.
Based on material, the metal osteotomy plates segment contributed to the highest share in 2020, accounting for more than half of the total market share. However, the metal osteotomy plates segment is projected to witness the highest CAGR of 4.4% from 2021 to 2030.
Based on end user, the hospitals segment accounted for the largest share in 2020, contributed to more than half of the global osteotomy plates market. However, the ambulatory surgical centers (ASCs) segment is estimated to witness the largest CAGR of 6.9% during the forecast period.
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Based on region, North America accounted for the highest share in 2020, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 4.9% during the forecast period.
Leading players of the global osteotomy plates market analyzed in the research include Arthrex Inc., Acumed LLC, Group FH Ortho, Johnson & Johnson, Zimmer Biomet, B. Braun Melsungen Ag, Aap Implantate Ag, Stryker Corporation, Wright Medical Group, and Amplitude Surgical.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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SOURCE: Allied Market Research, Global Newswire, June 29 2022
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