Total Wrist Replacement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Total Wrist Replacement Market Analysis
The total wrist replacement market is expected to register a CAGR of 3.5% over the forecast period.
The outbreak of COVID-19 has significantly impacted the total wrist replacement market. This was due to the strict regulations imposed on elective and non-urgent surgeries during the initial stages of the pandemic. For instance, the article published in Bone and Joint Open journal in January 2022 mentioned a 32% reduction in hand and trauma services, and the surgical procedures on hand trauma were reduced by 41% compared to 2021. Such reduction in the surgical volume and patient inflow during the pandemic had a notable impact on the market. However, the resumption of wrist surgeries during the post-pandemic period after the relaxation of strict lockdown procedures is expected to contribute to the market's growth.
The key factors propelling the growth of the total wrist replacement market are the increasing aging population, the increasing prevalence of rheumatoid and osteoarthritis, and the increase in fracture and accident cases. For instance, according to the NCBI article published in September 2022, the incidence of rheumatoid arthritis in Northern Europe and Northern America was 24 and 36 cases per 100,000 people, respectively. Similarly, another NCBI article published in 2021 mentioned that globally, osteoarthritis prevalence increased by 8.5%-9.3% in 2021. The article also mentioned that the regional prevalence of osteoarthritis was 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 in 2021. Such prevalence of osteoarthritis and rheumatoid arthritis, which increase the possibility of wrist replacement, is expected to drive the demand for total wrist replacement, thereby contributing to the market's growth over the forecast period.
On the other hand, rising product developments and approvals are expected to drive the growth of the studied market over the forecast period. For instance, in May 2021, the Orthopaedic Implant Company announced the United States Food and Drug Administration clearance and commercial launch of its wrist fracture plating technology, the DRPx System. Additionally, in May 2021, Hospital for Special Surgery surgeon developed a wrist implant, KninematX, total wrist arthroplasty system. The surgeon also performed wrist-replacement surgery using this implant.
However, the high costs involved in wrist reconstruction surgeries are expected to hinder market growth during the forecast period.
Total Wrist Replacement Market Trends
This section covers the major market trends shaping the Total Wrist Replacement Market according to our research experts:
Total Wrist Fusion Surgery is Expected to Witness a Healthy Growth Over the Forecast Period
Total wrist arthrodesis, also known as total wrist fusion (TWF), is a surgical procedure in which the wrist joint is stabilized or immobilized by fusing the forearm bone with the small bones of the wrist. This procedure relieves the pain after severe trauma to the wrist. The doctor may recommend total wrist arthrodesis when conservative treatments such as rest, medications, injections, and physical therapy do not relieve the pain.
With the growing geriatric population prone to develop arthritis and increasing arm injury, the use of total wrist fusion is expected to observe healthy demand and supply throughout the forecast period. For instance, as per the October 2021 report of the World Health Organization, the population of people of age 60 years or more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050, and as the older population is more prone to musculoskeletal disorders, such as arthritis and osteoporosis, the demand for total wrist fusion is expected to increase over the forecast period. Moreover, osteoarthritis is considered one of the most prevalent articular diseases among the population above the age of 65 years. Thus, the rising geriatric population is expected to drive the demand for total wrist fusion, thereby contributing to the growth of the studied segment.
Additionally, major players are engaged in the development of novel products and technologies. For instance, in October 2021, Tyber Medical LLC announced it had received the United States Food and Drug Administration clearance for its expanded line of anatomical plating systems, including wrist fusion plates. Moreover, in September 2021, Anika Therapeutics, Inc., a global joint preservation company, announced its WristMotionTotal Wrist Arthroplasty (TWA) System was launched at the American Society for Surgery of the Hand (ASSH) 2021 annual meeting in San Francisco.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a major share of the total wrist replacement market and is expected to show the same trend over the forecast period. The rising arthritis cases along with increasing arm injuries in this region along with the presence of major market players are expected to contribute to the growth of the market in this region.
For instance, the article published in NCBI in July 2022, mentioned that about one in seven people had wrist arthritis in the United States which was 13.6% of the country's population in 2022. Similarly, an article published by the Ohio State University, in 2021, reported that 6 million people in the United States broke a bone each year. The article also mentioned that fractures account for 16% of all musculoskeletal injuries in the United States annually. More than 40% of fractures occur at home. Likewise, the NCBI article published in January 2021, mentioned that over 16.5% of Canadians, around 4.8 million people had been diagnosed with various forms of arthritis by health professionals in 2021. Therefore, the increasing incidence of arthritis and bone fractures is expected to drive the demand for total wrist replacement in North America, thereby fueling the growth of the market.
Also, the rising total wrist replacement surgeries in this region is expected to provide lucrative opportunities in this region, thereby driving the growth of the market. For instance, in April 2021, Extremity Medical announced the first surgical case using KinematX total wrist device. KinematX is a mid carpal implant designed to mimic the natural range of motion in patients with wrist arthritis and others.
Thus, the rising arthritis cases along with the increasing adoption of total wrist replacement surgeries among the population is expected to contribute to the growth of the market in this region.
Total Wrist Replacement Industry Overview
The market studied is moderately competitive and fragmented due to many market players. Some major players in this market include Zimmer Biomet, Integra Lifesciences Holdings Corporation, Johnson and Johnson, Stryker Corporation, and Acumed LLC, among others.
Total Wrist Replacement Market Leaders
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Zimmer Biomet
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Johnson and Johnson
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Stryker Corporation
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Acumed LLC
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Integra Lifesciences Holdings Corporation
*Disclaimer: Major Players sorted in no particular order
Total Wrist Replacement Market News
- In August 2022, Ossio Inc. launched the OSSIOfiber Suture Anchors, expanding the company's growing portfolio of bio-integrative implants for use in hand/ wrist and other surgery.
- In August 2022, Extremity Medical LLC, Medical received a Vizient small joint contract. The awarded contract includes all Extremity Medical's upper ad lower extremity systems, including the innovative Total Wrist Arthroplasty system and others.
Total Wrist Replacement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Incidences of Arthritis and Osteoporosis Increase With the Age
4.2.2 Increasing Awareness about the Available Treatments for Wrist Injuries and Increase in Disposable Income
4.3 Market Restraints
4.3.1 High Costs Involved in Wrist Reconstruction Surgeries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Technology
5.1.1 Total Wrist Replacement (TWR)
5.1.2 Total Wrist Fusion (TWF)
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle East and Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle East and Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Small Bone Innovations
6.1.2 Zimmer Biomet
6.1.3 Integra Lifesciences Holdings Corporation
6.1.4 Johnson and Johnson
6.1.5 Acumed LLC
6.1.6 Medartis
6.1.7 Stryker Corporation
6.1.8 DJO Global
6.1.9 Anika Therapeutics Inc.
6.1.10 Skeletal Dynamics
6.1.11 CONMED Corporation
6.1.12 Extremity Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Total Wrist Replacement Industry Segmentation
As per the scope of the report, wrist replacement surgery is done to help retain or recover wrist movements. It also improves the ability to perform daily activities, especially if there is arthritis in the elbow and shoulder. During any total joint replacement, the worn-out ends of the bones are removed and replaced by an artificial joint (prosthesis). The Total Wrist Replacement Market is Segmented by Technology (Total Wrist Replacement and Total Wrist Fusion) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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| Total Wrist Replacement (TWR) | |
| Total Wrist Fusion (TWF) |
| Geography | ||||||||
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Total Wrist Replacement Market Research FAQs
What is the current Global Total Wrist Replacement Market size?
The Global Total Wrist Replacement Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Total Wrist Replacement Market?
Zimmer Biomet, Johnson and Johnson, Stryker Corporation, Acumed LLC and Integra Lifesciences Holdings Corporation are the major companies operating in the Global Total Wrist Replacement Market.
Which is the fastest growing region in Global Total Wrist Replacement Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Total Wrist Replacement Market?
In 2024, the North America accounts for the largest market share in Global Total Wrist Replacement Market.
What years does this Global Total Wrist Replacement Market cover?
The report covers the Global Total Wrist Replacement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Total Wrist Replacement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Total Wrist Replacement Industry Report
Statistics for the 2024 Global Total Wrist Replacement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Total Wrist Replacement analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
