Total Wrist Replacement Market to Grow with a CAGR of 4.37% through 2030
Demographic changes, technological advancements, and
evolving healthcare practices are expected to drive the Global Total Wrist
Replacement Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “Total Wrist
Replacement Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2030”, the Global Total Wrist Replacement
Market stood at USD 204.32 Million in 2024 and is anticipated to grow with a
CAGR of 4.37% in the forecast period through 2030. This can be attributed to improved
rehabilitation protocols. Rehabilitation after wrist replacement surgery has
become more effective and patient friendly. Enhanced post-operative protocols
and physical therapy techniques have accelerated recovery times and reduced the
risk of complications. Patients are more willing to undergo wrist replacement
surgery knowing that they can regain wrist function and return to their daily
activities with minimal disruption.
Moreover, the Total Wrist Replacement Market is
expected to expand globally, reaching underserved regions where access to
advanced orthopedic care has been limited. As geographic expansion occurs,
there will be an increased need for standardized training, regulatory
harmonization, and collaboration among international healthcare organizations. The total wrist
replacement market underwent significant disruptions due to the outbreak of
COVID-19, primarily caused by stringent regulations imposed on elective and
non-urgent surgeries in the initial phases of the pandemic. For example, a
January 2022 article published in the Bone and Joint Open journal indicated a
32% decline in hand and trauma services, with a corresponding 41% reduction in
surgical procedures for hand trauma when compared to figures from 2021. These
decreases in surgical volume and patient admissions had a notable impact on the
market. Nevertheless, the resumption of wrist surgeries in the post-pandemic
era, following the relaxation of strict lockdown measures, is expected to
contribute to the market's recovery and growth.
The growth
drivers of the total wrist replacement market encompass a range of factors,
including the increasing elderly population, a rising incidence of rheumatoid
and osteoarthritis, and an upswing in fractures and accidents. For instance, as
reported in a September 2022 NCBI article, the prevalence of rheumatoid
arthritis in Northern Europe and Northern America stood at 24 and 36 cases per
100,000 people, respectively. Similarly, a 2021 NCBI article noted a global
increase in osteoarthritis prevalence by 8.5%-9.3% in 2021, with regional
variations, including 22.5% in North America, 7.2% in Western Europe, 8.4% in
Central Asia, and 12.8% in North Africa and the Middle East. Such high
prevalence rates of osteoarthritis and rheumatoid arthritis, conditions often
leading to the necessity of wrist replacement, are expected to drive demand for
total wrist replacement procedures, thus contributing to market growth in the
foreseeable future.
Conversely, the
anticipated growth of the total wrist replacement market over the forecast
period will be facilitated by increasing product developments and regulatory
approvals. For instance, in May 2021, the Orthopaedic Implant Company announced
the clearance by the United States Food and Drug Administration and the
commercial launch of its wrist fracture plating technology, known as the DRPx
System. Additionally, in May 2021, a surgeon at the Hospital for Special
Surgery introduced the KninematX total wrist arthroplasty system, which was
subsequently used in wrist-replacement surgery.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Total Wrist Replacement Market.”
The Global Total
Wrist Replacement Market is segmented into technology, end-user, regional distribution,
and company.
Based on end-user,
hospitals and clinics category shows the fastest growth for the Global Total Wrist Replacement
Market due to several compelling reasons. Firstly, these healthcare facilities
provide the necessary infrastructure and specialized expertise required for
complex orthopedic procedures such as total wrist replacement. Patients seeking
treatment for debilitating wrist conditions often rely on hospitals and clinics
for comprehensive care, from diagnosis and surgery to post-operative
rehabilitation. Moreover, these establishments have the capability to invest in
state-of-the-art medical equipment and technologies, ensuring the highest
standards of surgical precision and patient safety. Additionally, hospitals and
clinics often collaborate with leading orthopedic surgeons and offer a wide
range of medical services, making them preferred choices for patients seeking
specialized wrist arthroplasty procedures. This dominance is further reinforced
by the ability of hospitals and clinics to provide a seamless continuum of
care, enhancing patient confidence and ensuring optimal surgical outcomes.
Based on Region, The Asia Pacific region is experiencing the fastest growth in the Total Wrist Replacement Market, driven by several key factors. A significant contributor is the rapidly aging population in countries like China, Japan, and India, leading to a higher prevalence of wrist-related conditions such as osteoarthritis. This demographic shift increases the demand for total wrist replacement procedures as individuals seek solutions to maintain mobility and quality of life. Additionally, advancements in healthcare infrastructure and increased awareness of surgical options have made these procedures more accessible. Patients are becoming more informed about the benefits of wrist replacement surgeries, leading to a higher adoption rate. The region's focus on improving healthcare services and the availability of skilled medical professionals further support this growth. Furthermore, the economic development in the Asia Pacific region has led to improved healthcare funding and insurance coverage, making advanced medical procedures more affordable for a larger segment of the population. This economic progress, combined with the aforementioned factors, positions Asia Pacific as the fastest-growing market for total wrist replacement surgeries.
Major companies
operating in Global Total Wrist Replacement Market are:
- Small Bone Innovations Inc
- Zimmer Biomet Holdings Inc
- Integra LifeSciences Corp
- Johnson & Johnson Services, Inc.
- Acumed Inc
- Medartis AG
- Stryker Corporation
- DJO Global Inc
- Anika Therapeutics Inc
- Skeletal Dynamics LLC
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“The future of
the Global Total Wrist Replacement Market is bright, with these upcoming trends
promising to reshape the landscape of wrist arthroplasty. From personalized
implants and minimally invasive techniques to the integration of AI and remote
monitoring, these advancements will undoubtedly improve patient care,
accessibility, and surgical outcomes. As the Total Wrist Replacement Market
continues to evolve, it will play a crucial role in enhancing the quality of
life for countless individuals suffering from debilitating wrist conditions,”
said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Total Wrist Replacement Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Technology (Total Wrist Replacement (TWR), Total Wrist Fusion (TWF)), By End-User (Hospitals & Clinics, Ambulatory care Centers, Others), By Region and Competition, 2020-2030F”,
has evaluated the future growth potential of Global Total Wrist Replacement
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Total Wrist
Replacement Market.
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