Total Wrist Replacement Market Size is valued at USD 185.04 Mn in 2022 and is predicted to reach USD 279.27 Mn by the year 2031 at a 4.76% CAGR during the forecast period for 2023-2031.
The surgical intervention known as total wrist replacement entails the substitution of a dysfunctional or highly arthritic wrist joint with an artificial joint or prosthesis. The aforementioned technique is commonly undertaken with the purpose of mitigating persistent pain, reinstating wrist functionality, and enhancing the overall well-being of patients experiencing extensive degeneration of the wrist joint.
This procedure is primarily conducted on individuals who have endured significant injuries or are afflicted with rheumatoid arthritis, osteoarthritis, or carpal tunnel syndrome. Additionally, the market is experiencing growth primarily due to several factors, consists of the rising prevalence of arthritis, advancements in technology related to total wrist replacement devices, and an increasing awareness of the advantages of total wrist replacement surgery.
Furthermore, a notable trend in the total wrist replacement market is the heightened focus on research and development efforts related to 3D-printed wrist implants and surgical instruments, contributing significantly to market expansion.
Competitive Landscape
Some Major Key Players In The Total Wrist Replacement Market:
- Zimmer Biomet
- Integra Lifesciences Holdings Corporation
- Johnson & Johnson
- Stryker Corporation
- Acemed LLC
- Depuy Synthes International
- Biomet Orthopedics
- Medartis AG
- Small Bone Innovation Inc.
- Skeletal Dynamics
- Others
Market Segmentation:
The total wrist replacement market is segmented on the basis of type and application. Based on type, the market is segmented as total wrist replacement and total wrist fusion. By application, the total wrist replacement market is segmented into hospitals & Clinics, medical institutions and others.
Based On Product, The Total Wrist Fusion Segment Is Accounted As A Major Contributor In The Total Wrist Replacement Market
The total wrist fusion category is expected to hold a major share of the global Total Wrist Replacement market in 2022. A total wrist fusion is a surgical technique employed to address congenital deformities occurring in the wrist. This procedure entails the fusion or binding together of wrist bones using materials like metal implants. Common conditions addressed through total wrist fusion include radial ray deficiency, scaphoid bone formation issues, ré-Thomas syndrome, and ulnar ray deficiency. The primary objective of this surgical intervention is to rectify deformities while maintaining wrist functionality.
The Hospital Category Witnessed Growth At A Rapid Rate
The hospital category is projected to grow at a rapid rate in the global total wrist replacement market. This category is anticipated to maintain its dominant position throughout the forecast period. As the volume of surgeries continues to rise, so does the demand for total wrist replacement procedures. Typically, these surgeries take place within hospital settings, where the necessary equipment and skilled personnel are readily available.
In The Region, The North American Total Wrist Replacement Market Holds A Significant Revenue Share
The North American Total Wrist Replacement market is expected to register a tremendous market share due to its robust healthcare infrastructure, elevated levels of patient awareness, and comparatively greater healthcare expenditure by consumers. Furthermore, the increasing involvement in sports and bone health-related pursuits and favourable reimbursement policies are expected to be key elements of market growth in this region during the forecast period. In addition, the Asia Pacific regional market is projected to develop at a rapid rate in the Total Wrist Replacement market.
The Asia-Pacific region has a growing elderly population, which is more prone to wrist-related conditions like osteoarthritis. This shift is propelling the demand for total wrist replacement procedures. Additionally, patients are increasingly aware of the benefits of total wrist replacement surgery as a solution for chronic wrist conditions. Patients are seeking these procedures to improve their quality of life.
Recent Developments:
- In March 2020, The FDA recently approved a revolutionary total wrist replacement device to treat severe arthritis. Scott Wolfe, MD, a hand surgeon at the Hospital for Special Surgery (HSS), and Joseph J. Crisco, III, PhD, director of the Bioengineering Laboratory at Brown University and Rhode Island Hospital, spent 30 years developing the concept. They have won many accolades for their study.
Total Wrist Replacement Market Report Scope
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 185.04 Mn |
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Revenue Forecast In 2031 |
USD 279.27 Mn |
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Growth Rate CAGR |
CAGR of 4.76% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Technology, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Zimmer Biomet, Integra Lifesciences Holdings Corporation, Johnson & Johnson, Stryker Corporation, Acemed LLC, Depuy Synthes International, Biomet Orthopedics, Medartis AG, Small Bone Innovation Inc., Skeletal Dynamics, Others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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