Wedge Osteotomy Systems Market - Introduction
Osteotomy is a surgical procedure used for bone alignment in individuals aged below 60. Osteotomy is carried out to correct excessive rotation of long bones, arthritis, and deformities such as genu valgum, genu varum, and coxa vara. Wedge osteotomy involves removal of a small portion of bone from the inside of tibia to straighten the bone. This allows for extra space between the damaged bone resulting in reduced pressure and relief from pain. Tibial osteotomy was first performed in Europe during the 1950s and the procedure was first carried out in the U.S. in 1960. Wedge osteotomy systems are designed for safe and reproducible osteotomy procedures to provide relief to individuals from pain associated with lower extremities miss-alignments.
Increase in incidence and prevalence of bone disorders, rise in product launches, surge in participation of regional manufacturers, increase in strategic alliances between global manufacturers and regional distributors, and rise in health care expenditure in developing and developed economies of the world are anticipated to drive the global wedge osteotomy systems market during the forecast period. However, limited awareness, shortage of trained professionals in lower income countries, and risk factors associated with the procedure which can lead to infection, stiffness of joints, injuries to nerves & vessels, and blood clots are the major factors restraining the global wedge osteotomy systems market.
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Wedge Osteotomy Systems Market - Competitive Landscape
Zimmer Biomet was established in 1927 in Indiana, the U.S. The company manufactures and markets health care products and solutions across the Americas, Europe, the Middle East, and Asia Pacific. The company’s product portfolio comprises knee & hip replacement products, foot & ankle, extremities, and trauma products. It was formerly known as Zimmer Holdings, Inc. Increase in product approvals and adoption of expansion strategies to increase geographic presence in developing markets have led to the company’s dominance in the global wedge osteotomy system market.
Established in 1988, Acumed LLC offers orthopedic and medical solutions for patient care. The company’s product portfolio consists of osteotomy systems, lower extremity modular systems, scaphoid targeting guides, and lower extremity products. It has a well-established distribution channel spread across the U.S. and other international markets. Before 1988, Acumed was known as Accurate Machine and Design. Presently, Acumed operates as a subsidiary of Colson Associates, Inc.
Paonan Biotech Co., Ltd.
Paonan Biotech Co., Ltd. was established in 1985. The company has a strong research & development team which constitutes international medical advisers to provide best products and services. Paonan Biotech Co., Ltd. Product operated in following business segments namely; Cervical, Thoraci & Lumbar, Trauma, OA Knee Solutions, and others. The company’s OA Knee Solution business segment constitutes open wedge hemicallotasis osteotomy fixator, focal dome osteotomy fixator, and combined wedge osteotomy plating system.
Major players operating in the global wedge osteotomy systems market include Johnson & Johnson, Stryker, aap Implantate AG, Arthrex, Inc., and Tyber Medical LLC.
Wedge Osteotomy Systems Market - Dynamics
Increase in incidence and prevalence of arthritis
Arthritis is a major concern for individuals as it is one of the leading causes of disability across the globe. Increase in incidence and prevalence of arthritis among individuals in developed regions is anticipated to drive the global wedge osteotomy market during the forecast period. According to the Centers for Diseases Control and Prevention, approximately 54.4 million adults in the U.S. have one or other form of arthritis. Nearly 78 million adults aged above 28 will be detected with arthritis in the U.S. by 2040.
Technological advancements in open wedge tibial osteotomy
Technological advancements in the field of medical science such as 3D printing for open wedge high tibial osteotomy is anticipated to drive the global wedge osteotomy market during the forecast period. In a recent study, digitally planned osteotomy procedures were carried out using 3D printed osteotomy positioning guides by physicians to reduce the risk of human error and time for completing the procedure.
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High cost of procedure and associated risk factors
Risk factors associated with osteotomy procedure are anticipated to restrain the global wedge osteotomy systems market during the forecast period. Wedge osteotomy is a surgical procedure that uses implants such as plates and screws to securely compress the site of osteotomy. If not performed accurately, the procedure can lead to nerve damage and infection at the site of procedure, thereby increasing the cost. The average cost of high tibial osteotomy is US$ 20,000. In some cases, a second surgical procedure is carried out when osteotomy does not heal after first surgery. Hence, high cost of procedure is anticipated to act as a restraint of the global wedge osteotomy systems market during the forecast period.
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