On the nose – Osteopore taps into lucrative rhinoplasty market with bioresorbable polymer scaffold
Health & Biotech
Health & Biotech
Osteopore is continuing its drive to be a major player in rhinoplasty, marketing its bioresorbable polymer scaffold to internationally renowned surgeons.
Regenerative bone and tissue implant specialist Osteopore (ASX:OSX) is capitalising on the lucrative market of rhinoplasty, a form of functional and cosmetic surgery to repair or reshape the nose.
According to the International Society of Aesthetic Plastic Surgeons, rhinoplasty is the fourth most common surgical procedure globally.
The global rhinoplasty market is valued at USD 5.1 billion in 2021 and is projected to grow at a CAGR of 8.9% until 2030, according to a report by Grand View Research.
On the list for surgical procedures that require an implant, rhinoplasty is second only to breast augmentation, according to ISAPS Survey 2020.
Despite the pandemic, sales for Osteopore’s aesthetics business amounted to over half a million Australian dollars in 2021 with overall revenue reported at A$1,113,009.
Osteopore has a scaffold that is specially designed for use in rhinoplasty. The scaffold is made of bioresorbable polymer that biodegrades between 18-24 months via hydrolysis.
Osteomesh provides structural support to achieve long-term aesthetically pleasing nose reconstruction outcome.
On the week of 7th November, Osteopore participated in the Singapore Sleep, Allergy and Rhinoplasty Conference (SARC), attended by renowned plastic surgeons from Asia. The SARC is one of the largest meetings in Singapore for surgeons of the related specialty and is attended by surgeons across the globe.
A portion of the conference is dedicated to techniques and patient selection for rhinoplasty and included a cadaver (learning) workshop in which Osteopore was the major sponsor.
Osteopore believes in providing the best possible training to its surgeons to ensure that products are selected correctly and implanted with the right surgical technique.
The instructors for the cadaver workshop were internationally renowned surgeons Prof Ji Yun Choi and Prof Tae Bin Won of South Korea.
Prof Choi is a notable ENT and facial plastic surgeon. He is director and professor of the Department of Otorhinolaryngology Chosun University College of Medicine in Gwangju, Korea.
Prof Won is a faculty member in the department of otorhinolaryngology-head and neck surgery of Seoul National University Hospital. He specialises in the field of rhinology with expertise in functional and aesthetic surgery of the nose, sleep surgery, and endonasal skull base surgery.
Prof Won is an internationally recognised speaker and has published numerous articles and book chapters relating to his specialty.
Director of the SARC, Dr Leong Jern-Lin said: “We are happy to be working alongside industry partners, such as Osteopore, to continue bringing quality speakers and educational materials to participants from across the globe. We hope to continue such partnerships for the future events.”
This article was developed in collaboration with Osteopore, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.