Australian-Singaporean regenerative medicine company Osteopore Limited (ASX:OSX) – a global leader in 3D-printed biomimetic and bioresorbable implants – has secured market approval for its groundbreaking orthopaedic products in Singapore and Vietnam.
The regulatory clearance received on 26 March 2024 includes a suite of off-the-shelf products for High Tibial Osteotomy (HTO), bone grafting, and customisable implants for complex bone loss.
The clearance validates Osteopore’s orthopaedic products in the Singaporean and Vietnamese markets, strengthening its positioning in the high-growth global orthopaedic market.
In 2020-21, HTO procedures doubled in Singapore, particularly among 40-60-year-olds. The HTO market is expected to grow at a compound annual growth rate of 9.2 per cent while the general bone grafting market is projected to expand at a CAGR of 2.3 per cent.
“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.”