Wrist Replacement Market Size, Share and Global Trend By Technology (Total Wrist Replacement, Total Wrist Fusion), By End User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers, Others), and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Wrist replacement refers to the procedure of the replacement of the wrist or the provision of support to the wrist that is damaged or unable to undertake its normal functions. Wrist replacement is often undertaken as a treatment for various forms of arthritis such as osteoarthritis and rheumatoid arthritis. It can also be done for injuries relating to the wrist and for the correction of deformities. The number of wrist replacement procedures are increasing gradually owing to the innovative technology for manufacturing orthopedic implants and rise in procedures in the outpatient setting. Furthermore, new product launches and strategic collaboration are expected to augment the global wrist replacement market. For example, in December 2017, OrthoPediatrics Corp. launched Wrist Fusion Plate System for pediatrics to expand their PediFrag franchise.
The global wrist replacement market is anticipated to grow, owing to several factors such as the increased prevalence of various forms of arthritis such as osteoarthritis & rheumatoid arthritis, increase in injuries, increasing demand for normal functioning, increase in comorbidities, and increase in awareness of the medical procedures. According to the Arthritis Foundation, arthritis is the leading cause of disability in the U.S., with the most common type of arthritis being osteoarthritis. This trend, combined with other factors, are expected to positively drive the market forward.
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Some of the factors that are expected to limit the growth of the global wrist replacement market include the high rates of wrist replacement failures, high costs involved, and competition from alternative treatments such as medication therapy.
KEY PLAYERS COVERED
Some of the major companies that are present in the global wrist replacement market are Stryker, Acumed LLC, Zimmer Biomet, Integra LifeSciences, and DePuy Synthes.
SEGMENTATION
SEGMENTATION | DETAILS |
By Technology | · Total Wrist Replacement (TWR) · Total Wrist Fusion (TWF) |
By End User | · Hospitals · Orthopedic Clinics · Ambulatory Surgery Centres · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
The total wrist replacement segment is estimated to expand in the projected period owing to the increasing number of wrist implants, rising number of total wrist procedures, and increasing trend of minor joint replacement surgery in an outpatient setting.
KEY INSIGHTS
Number of wrist replacement surgery for key countries
Prevalence of osteoarthritis for key countries
New product launch
Regulatory scenario for key countries
Reimbursement Scenario for key countries
Recent industry developments such as partnerships, mergers, and acquisitions
REGIONAL ANALYSIS
North America accounts for the largest share in the global wrist replacement market due to the increasing incidences of sports injuries, rapid adoption of 3-D printing technology, and favorable healthcare reimbursement. The wrist replacement market in Europe is poised to surge due to the increasing number of joint replacement procedures and increasing demand for orthopedic implants. Asia Pacific is the fastest emerging wrist replacement market due to the increasing incidences of arthritis, increasing disposable income, and developing healthcare systems.
Key Industry Developments |
· In December 2017, OrthoPediatrics Corp. launched Wrist Fusion Plate System for paediatrics in order to expand their PediFrag franchise. · In July 2017, DePuy Synthes announced the launch of Distal Radius Sterile Kit, a single use, pre sterilized kit with instruments and implants for treating wrist fractures. · In May 2015, Arthrosurface, Inc. introduced WristMotion hemiarthroplasty implant to aid wrist replacement surgery. · In May 2016, DePuy Synthes acquired BioMedical Enterprises in order to expand their product portfolio and offer innovative orthopedic solutions to the healthcare providers such as wrist, feet, ankles and other orthopedic implants. |
- Ongoing
- 2023
- 2019-2022
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