Osteotomy Plates Market to Reach $900.22 Million by 2030, Says Allied Market Research

Portland, OR, June 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global osteotomy plates market generated $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.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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