Total Wrist Replacement Market by End-user and Geography - Forecast and Analysis 2022-2026

The total wrist replacement market share is expected to increase to USD 165.9 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.9%.

The report extensively covers total wrist replacement market segmentations by the following:

• End-user - Hospitals and clinics, ambulatory surgical centers, and others
• Geography - North America, Europe, Asia, and Rest of World (ROW))

The total wrist replacement market report offers information on several market vendors, including Acumed LLC, Anika Therapeutics Inc., Extremity Medical LLC, Integra LifeSciences Corp., Johnson and Johnson, Medartis Holding AG, Skeletal Dynamics LLC, Smith and Nephew plc, Stryker Corp., Wright Medical Group NV, and Zimmer Biomet Holdings Inc. among others.

This total wrist replacement market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Total Wrist Replacement Market Size be During the Forecast Period?

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Total Wrist Replacement Market: Key Drivers, Trends, and Challenges

The growing number of road accidents and fatal sports injuries is notably driving the total wrist replacement market growth, although factors such as the lack of skilled surgeons may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the total wrist replacement industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Total Wrist Replacement Market Driver

• The growing number of road accidents and fatal sports injuries is one of the key drivers supporting the total wrist replacement market growth. 
• Road accidents cause upper and lower limb dislocations and fractures, which require extremity surgeries.
• Sports-related injuries mostly affect the wrist in the lower extremities and the shoulders and elbows in the upper extremities. The treatment of these injuries is complex as they involve both the skeleton and soft tissues. Physicians use rotation correction plates, screws, and modular hand systems to treat such injuries.
• According to the CDC, approximately 10.30 million episodes of sports-related injuries are reported in the US. Therefore, the growing number of road accidents and fatal sports injuries increases the prevalence of fractures, dislocations, and bone damage. This will drive the growth of the global total wrist replacement market during the forecast period.

Key Total Wrist Replacement Market Trend

• Increasing R&D of 3D printed wrist implants and surgical instruments is one of the key total wrist replacement market trends that is contributing to the market growth.
• For instance, Wright Medical Group has launched the first and only pre-operative navigation system for total wrist replacement. It combines computer imaging and a patient-specific operative plan.
• 3D printing is used for customizing and developing instrument guides for each patient, which can aid clinicians in positioning the IN BONE Total Wrist System.
• 3D provides surgeons with a visual plan that details the implant placement before the actual surgery. This can help them to streamline the surgical procedure and reduce the amount of standard instrumentation required in the operating room. Thus, the increasing R&D of 3D printed wrist implants and surgical instruments will positively impact the total wrist replacement market during the forecast period

Key Total Wrist Replacement Market Challenge

• The lack of skilled surgeons is one of the factors hindering the total wrist replacement market growth. 
• The clinical success of a total wrist replacement procedure greatly depends on the surgeon's experience and the implantation technique used.
• Currently, the number of qualified orthopedic surgeons with the necessary training and experience to perform a total wrist replacement procedure is significantly lesser than the number of orthopedic surgeons performing hip and knee replacement surgeries.
• The overall number of specialized centers for total wrist replacement is limited, especially in certain regions such as Africa. Even in certain developed countries such as France, the number of skilled orthopedists trained to perform total wrist replacement procedures is inadequate. Thus, the lack of skilled orthopedists is expected to negatively impact the total wrist replacement market during the forecast period.

This total wrist replacement market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Total Wrist Replacement Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Acumed LLC
• Anika Therapeutics Inc.
• Extremity Medical LLC
• Integra LifeSciences Corp.
• Johnson and Johnson
• Medartis Holding AG
• Skeletal Dynamics LLC
• Smith and Nephew plc
• Stryker Corp.
• Wright Medical Group NV
• Zimmer Biomet Holdings Inc.

 

This statistical study of the total wrist replacement market encompasses successful business strategies deployed by the key vendors. The total wrist replacement market is concentrated and the vendors are deploying growth strategies such as operational costs, innovation, price, and product quality to compete in the market.

Product Insights and News

• Acumed.net - The company offers total wrist replacement products such as Acu-Loc 2 Wrist Plating System, Arc Wrist Tower, ExtremiLock Wrist Plating System.
• Anikatherapeutics.com - The company offers WristMotion TWA System that is focused on alleviating pain and restoring the function of an arthritic wrist joint.
• Extremitymedical.com - The company offers KinematX that is the one and only midcarpal implant designed to emulate natural wrist range of motion in patients with wrist arthritis and other degenerative wrist conditions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The total wrist replacement market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Total Wrist Replacement Market?

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43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the total wrist replacement market in North America. Market growth in this region will be slower than the growth of the market in Asia.

The increasing prevalence of osteoarthritis involving the wrist joint and related risk factors will facilitate the total wrist replacement market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 led to a slight decline in the growth of the total wrist replacement market in North America in 2020. However, the resumption of canceled and postponed arthroplasty surgeries and the increase in the pace of research programs for total wrist replacement since Q4 2020 will drive the growth of the regional market during the forecast period. 

What are the Revenue-generating End-user Segments in the Total Wrist Replacement Market?

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The total wrist replacement market share growth by the hospitals and clinics segment will be significant during the forecast period. The hospitals and clinics segment comprises smaller hospitals and government-funded general hospitals. Hospitals are the leading end-users of the global total wrist replacement market. Smaller hospitals have technologically improved versions of digital devices for wrist replacement. They have highly skilled physicians and technicians to cater to the needs of an economically affluent section of individuals, and hence, they are always required to upgrade themselves technologically. Thus, the high demand for total wrist replacement in hospitals and clinics will further enhance the growth of the market during the forecast

This report provides an accurate prediction of the contribution of all the segments to the growth of the total wrist replacement market size and actionable market insights on post COVID-19 impact on each segment.

Parent Market Analysis

Technavio categorizes the global total wrist replacement market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the total wrist replacement market during the forecast period.

Total Wrist Replacement Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the total wrist replacement market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Total Wrist Replacement Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.9%
Market growth 2022-2026	$ 165.9 million
Market structure	Concentrated
YoY growth (%)	3.0
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 43%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Acumed LLC, Anika Therapeutics Inc., Extremity Medical LLC, Integra LifeSciences Corp., Johnson and Johnson, Medartis Holding AG, Skeletal Dynamics LLC, Smith and Nephew plc, Stryker Corp., Wright Medical Group NV, and Zimmer Biomet Holdings Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Total Wrist Replacement Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive total wrist replacement market growth during the next five years
• Precise estimation of the total wrist replacement market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the total wrist replacement industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of total wrist replacement market vendors

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