The size of the Middle East and Africa Osteotomy Plates Market is projected to grow at a sluggish CAGR from 2022 to 2027.
The osteotomy plates market in middle east Africa is expected to be majorly driven by the proliferation of bone-related diseases caused by improper diet and unhealthy diet and the rising adoption of surgical procedures for safer diagnosis and bone-related diseases. Also, the increasing number of road accidents across the region is accelerating market growth.
On the other hand, the market is likely to be driven by growing awareness among the people about osteotomy plates in the region, increasing disposable income, and urbanization in developing countries such as UAE and South Africa.
In addition, the rising number of hospitals across developing countries such as UAE, South Africa, and Saudi Arabia are driving the market growth. Furthermore, increasing investment and funding by the government funding for the infrastructure development in the region is encouraging the new market entrants, which is expected to provide growth lucrative growth opportunities for the market growth during the forecast period. Also, the advancements in the osteotomy plates are likely to boost market growth.
Bone disorders such as osteoporosis are one of the common causes of fractures. According to the recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. The growing geriatric population is positively influencing the market growth, as the aged people are more prone to the number of physical and psychological changes leading to age-associated diseases of bone such as arthritis and osteoporosis.
However, the high cost of osteotomy procedures and complications associated with the osteotomy process is considered one of the market's growth restraints factors. The complications related to osteotomy procedures include damage, infection, blood clots, bleeding, development of arthritis, lack of full of range motion, and reinjuries to the soft tissue or joint. In addition, lack of professionals to adapt the advanced technologies and rising safety concerns regarding Osteotomy Plates in research laboratories are few factors that may hinder the growth of the market in the forecasted period.
This research report on the MEA osteotomy plates market has been segmented and sub-segmented into the following categories:
By Material:
By Application:
By End User:
By Country:
Geographically, the Middle East and Africa is going to show high growth rate in future because of presence of developing countries. Middle East Africa is expected to have a promising market share during the forecast period. The market growth in the region is attributed to the increasing prevalence of bone-related diseases, increasing road accidents, and the rising number of hospitals and healthcare infrastructure in the region. Also, technological advancements in the healthcare sector and the adoption of advanced surgical procedures for safer diagnosis and treatment of bone-related diseases are augmenting the market growth for Osteotomy Plates. The developing countries such as South Africa, Saudi Arabia, and UAE are significantly contributing to MEA regional market growth. South Africa and UAE held the highest share in the market during the previous year and anticipated to witness a significant share in the market over the forecast period. Improving the healthcare sector, government initiatives for providing better healthcare services to the people in the countries, and Y-O-Y rising road accidents contribute to the market growth in these countries. In addition, increasing awareness about the osteotomy plates and urbanization is likely to augment the market growth.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Middle East and Africa market are Arthrex, Inc., OrthoPediatrics Corp., Acumed, LLC, Wright Medical Group N.V., Implantate AG, Johnson & Johnson, Stryker Corporation, Zimmer Biomet, B. Braun Melsungen AG, GROUP FH ORTHO, Amplitude Surgical.
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