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.
Need an Overview of the Report on Wedge Osteotomy Systems Market? Ask for the Brochure here
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.
Stuck in a Neck-to-Neck Competition with Other Brands? Request a Custom Report on “Wedge Osteotomy Systems Market” here
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.
Wedge Osteotomy Systems Market - Segmentation
The global wedge osteotomy systems market can be segmented based on:
Wedge Osteotomy Systems Market Segmentation - By Type
In terms of type, the global wedge osteotomy systems market can be classified into:
- Open Wedge Osteotomy Systems
- Closed Wedge Osteotomy Systems
Wedge Osteotomy Systems Market - By End-user
Based on end-user, the global wedge osteotomy systems market can be divided into:
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.