According to IMARC Group’s latest report, titled “Global Osteotomy Plates Market Share, Size, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global osteotomy plates market reached a value of US$ 531.88 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 760.48 Million by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
Osteotomy represents the medical procedure involving the cutting of a bone to shorten or lengthen it. It generally includes hip, knee, jaw, and chin osteotomy to fix a defect that affects the growth of an individual. Osteotomy is used for improving several deformities of bones and joints while delaying the progression of conditions, such as arthritis, and relieving pain. In line with this, it is also utilized for treating bunions caused by the outward displacement of the first toe, which can be rectified by restoring its shape.
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Osteotomy Plates Market Trends:
The widespread adoption of surgical procedures for safer diagnosis and treatment of numerous diseases is primarily driving the osteotomy plates market. Additionally, the rising prevalence of sports-related injuries, owing to poor training methods, structural abnormalities, and weakness in tendons, muscles, ligaments, etc., is further catalyzing the market growth. Besides this, the growing utilization of osteotomy plates to realign the knee of a patient is acting as another significant growth-inducing factor.
Moreover, the increasing number of individuals who have musculoskeletal disorders, including fibromyalgia, knee osteoarthritis, Blount's disease, myositis, etc., and osteoporosis, on account of the deficiency of calcium or vitamin D, is propelling the product demand. Apart from this, the government bodies across various countries are extensively investing in healthcare infrastructures, which in turn, is anticipated to fuel the osteotomy plates market over the forecasted period.
Global Osteotomy Plates Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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The report has segmented the market on the basis of region, material, application and end user.
Breakup by Material:
Breakup by Application:
Breakup by End User:
Breakup by Geography:
Key highlights of the report:
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