Total Wrist Replacement Market Size, Share and Trends Analysis to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Total Wrist Replacement Market- (By Technology (Total Wrist Replacement (TWR), Total Wrist Fusion (TWF)), By End-Users (Hospital & Clinics, Ambulatory care Centers, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Total Wrist Replacement Market is valued at US$ 185.04 Mn in 2022, and it is expected to reach US$ 279.27 Mn by 2031, with a CAGR of 4.76% during a forecast period of 2023-2031.

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Total wrist replacement is a surgical intervention to replace a compromised or arthritic wrist joint with an artificial implant. This implant comprises two metal plates, interconnected with screws, serving as a substitute for the bones within the wrist joint. This procedure is typically advised for individuals facing severe arthritis or other wrist joint damage that substantially impede their hand functionality. The growth of the TWR (total wrist replacement) market is being driven by number of key factors. These include the rising elderly population, a growing prevalence of rheumatoid and osteoarthritis, an uptick in fractures and accidents, an increasing awareness of available treatments for wrist injuries, and a rise in disposable income. Additionally, the market benefits from the increasing number of road accidents and sports-related injuries that require wrist replacements. However, it's important to note that a shortage of skilled surgeons could hinder market growth. Furthermore, another noteworthy trend in the total wrist replacement market is the increasing research and development efforts in 3D printed wrist implants and surgical instruments, contributing to market growth.


List of Prominent Players in the Total Wrist Replacement Market:
Zimmer Biomet
Integra LifeSciences
Johnson & Johnson
Stryker
ACEmed Solutions
DePuy Synthes
BIOMET ORTHOPEDICS PR
Medartis
Small Bone Innovation Inc.
Skeletal Dynamics
Others

Market Dynamics:
Drivers-
The growing incidence of wrist fractures can be attributed to the increasing popularity of high-impact sports and activities such as snowboarding, mountain biking, and skateboarding. These fractures often result in arthritis, necessitating total wrist replacement surgery. Another contributing factor to market growth is the continuous advancement in improvement in surgical techniques and implant design. Surgeons are becoming increasingly proficient in performing total wrist replacement surgeries, thanks to ongoing advances in surgical methods and the manufacturing processes associated with implant design. This progress has led to a more dependable and less invasive procedure, ultimately resulting in improved post-surgery outcomes for patients.

Challenges:
The need for more skilled orthopaedic surgeons with expertise in wrist replacement procedures can hinder the market's growth. Surgeon skill is critical for successful surgeries and patient outcomes. Total wrist replacement surgeries can be expensive, and the rising cost can be a significant barrier to access for some patients. This cost factor can limit the market's expansion. Stringent regulatory processes and approval requirements for medical devices and implants can slow the introduction of new wrist replacement technologies and devices to the market. Economic downturns or uncertainties can affect the willingness of patients to undergo elective surgeries like total wrist replacement, impacting market demand.

Regional Trends:
The North America Total Wrist Replacement market is expected to register a major market share market encompasses various aspects such as the demand for surgical procedures, the availability and adoption of advanced medical technologies, the prevalence of wrist-related conditions, and the competitive landscape of healthcare providers and medical device manufacturers offering wrist replacement solutions in North America. Besides, Asia Pacific had a considerable share of the market. Factors influencing this market may include the ageing population, advancements in medical technology, and the prevalence of conditions like arthritis that necessitate wrist replacement surgery.

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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.


Segmentation of Total Wrist Replacement Market-

By Technology-
· Total Wrist Replacement (TWR0
· Total Wrist Fusion (TWF)

By End Users-
· Hospital & Clinics
· Ambulatory care Centers
· Others

By Region-
North America-
· The US
· Canada
· Mexico

Europe-
· Germany
· The UK
· France
· Italy
· Spain
· Rest of Europe

Asia-Pacific-
· China
· Japan
· India
· South Korea
· Southeast Asia
· Rest of Asia Pacific

Latin America-
· Brazil
· Argentina
· Rest of Latin America

Middle East & Africa-
· GCC Countries
· South Africa
· Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

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