Australian-Singaporean regenerative medicine company Osteopore Limited (ASX:OSX; has secured market approval for its ground-breaking orthopaedic products in Singapore and Vietnam.
Osteopore has obtained regulatory clearance from Singapore’s Health Sciences Authority (HSA) and Vietnam’s Department of Medical Equipment and Construction (DMEC), for aXOpore, which includes a suite of off-the-shelf and customisable orthopaedic products.
HSA and DMEC clearance positions Osteopore for high-value complex bone reconstruction procedures as well as general bone grafting procedures.
Osteopore’s High Tibial Osteotomy (HTO) product is the centrepiece of the company’s orthopaedic expansion into Singapore and Vietnam with the company paving the way for the product via clinical presentations at opportunities including the Singapore Orthopaedic Association’s 45th Annual Scientific Meeting.
According to Singapore General Hospital (SGH), HTO or knee preservation surgeries have doubled in the space of a year – from 50 cases in 2020 to approximately 100 cases in 2021.
More than 10% of adults in Singapore are impacted by knee osteoarthritis, a degenerative joint condition. The prevalence of this condition sees a significant increase amongst 40-to-60-year- olds.
Knee preservation surgeries have the highest potential for this demographic, as they seek to relieve symptoms and delay the need for more invasive surgeries like Total Knee Replacement (TKR).
Vietnam's orthopaedic market is forecasted to experience robust growth at a 7.68% CAGR between 2024 and 2028. This projected expansion is driven by the country's significantly aging population and the increasing prevalence of orthopaedic conditions, which will heighten demand for related products and services.
HTO market projected to grow at a CAGR of 9.2%
According to Osteopore-commissioned market research performed by CETAS Healthcare, the high growth HTO market is projected to grow at a CAGR of 9.2%, with procedures expected to reach 35,000 in the Asia Pacific region (APAC) per annum by 2025. Moreover, it’s anticipated that the bone grafting market will increase at a CAGR of 2.3%, while procedures are expected to arrive at 250,000 in APAC per annum by 2025.
HTO, bone grafting and other procedures presents Osteopore with a projected market opportunity of approximately 400,000 procedures in APAC annually by 2025, subject to product availability.
The company will seek to launch its groundbreaking orthopaedic products in Singapore and Vietnam, which represent two of Osteopore’s three highest performing countries over the past four years.
Focusing on Singapore and Vietnam enables the company to leverage its existing sales and distribution channels to accelerate market access, while managing the costs associated with market expansion.
“We are delighted to share another positive step in the ongoing transformation of the company,” Osteopore CEO, Dr Lim Yujing, said.
“The orthopaedic market is a high-value and high-volume segment with the HTO market expected to grow at a CAGR of 9.2%.
“These approvals enable Osteopore to supply off-the-shelf and customisable implants, positioning us to capture the potential of these high growth market segments,” said Dr Lim.
