LONDON--(BUSINESS WIRE)--The global osteotomy plates market 2018-2022 is expected to post a CAGR of close to 5% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing prevalence of bone-related disorders. There is an increase in the prevalence of bone-related disorders such as osteoarthritis and osteoporosis. Osteoporosis is one of the common causes of fractures. Osteoporosis causes more than millions of fractures annually. As per the 2018 CDC report, women aged above 50 years are more likely to develop osteoarthritis than men. The increase in the number of people with conditions such as osteoarthritis, rheumatoid arthritis, and other musculoskeletal diseases is likely to spur the growth of the global osteotomy plates market during the forecast period.
This market research report on the global osteotomy plates market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing popularity of NiTiNOL-based osteotomy plates as one of the key emerging trends in the global osteotomy plates market:
Global osteotomy plates market: Growing popularity of NiTiNOL-based osteotomy plates
NiTiNOL is a nickel-titanium alloy that has shape-memory properties, which make it a valuable implant material. NiTiNOL staples are used for fracture fixation, arthrodesis, and osteotomies. The advantage of NiTiNOL staples over conventional metallic staples is their capacity to maintain a continuous compressive force to the fracture surfaces due to their shape memory properties.
“Using NiTiNOL staples for osteotomy procedures ensures the good approximation of bone fragments, the dynamic compression of fracture surfaces, the reduced incidence of nonunion, and the avoidance of infections and postoperative care issues associated with external fixation. It also reduces time as compared to bone screws,” says a senior analyst at Technavio for orthopedics and medical devices.
Global osteotomy plates market: Segmentation analysis
This market research report segments the global osteotomy plates market by end-user (hospitals, ASCs, and specialty orthopedic centers), by application (knee and hip), by product (titanium osteotomy plates, stainless steel osteotomy plates, and polymer osteotomy plates), and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 53%, followed by EMEA and APAC respectively. In the Americas, North America accounts for a significant share, due to the factors such as the increase in the number of orthopedic disorders and surgeries, rising demand for minimally invasive surgeries, rapid technological advances in the healthcare sector, availability of reimbursements, and the presence of established vendors in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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