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The hospitals and clinics segment accounted for USD 403.50 million in 2018. The joint open journal reports an increasing number of wrist reconstruction surgeries, including total wrist arthrodesis and total wrist fusion, utilizing anatomical plating systems. Healthcare reimbursement policies and healthcare systems' focus on outpatient settings further boost the market's growth. Pediatric applications under the PediFrag franchise are also gaining traction in the market. The FDA's approval of new orthopedic implants continues to propel innovation in this field. Injuries and trauma services are significant contributors to the market, with a rising number of surgical procedures being performed to address wrist disorders.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The total wrist replacement market caters to the growing demand for advanced orthopedic solutions for various hand disorders, including osteoporosis, osteoarthritis, rheumatoid arthritis, and fractures caused by accidents or sports injuries. Key players in this market include Stryker, Zimmer Biomet, Conformis, and Extremity Medical.
Thus such companies offer a range of orthopedic implants and surgical procedures for wrist reconstruction, such as total wrist arthrodesis and total wrist fusion, in both inpatient and outpatient settings. The aging population, comorbidities, and disability are significant drivers for the market's growth. The FDA has approved several joint replacement procedures, making healthcare reimbursement more accessible for patients. Anatomical plating systems and pediatric offerings, such as the PediFrag franchise, are also gaining popularity. Healthcare systems are increasingly focusing on trauma services to cater to the rising number of wrist-related injuries and deformities.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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The market is witnessing significant growth due to the increasing prevalence of orthopedic disorders such as osteoporosis, osteoarthritis, rheumatoid arthritis, and injuries. These conditions often lead to wrist deformities, fracture, and the need for surgical procedures. Companies like Stryker, Zimmer Biomet, Conformis, and Extremity Medical are leading players in this market, offering orthopedic implants for wrist reconstruction surgeries. The aging population is another major factor driving the market's growth, as older adults are more susceptible to wrist disorders and fractures. Comorbidities, such as diabetes and obesity, can also increase the risk of wrist injuries and the need for joint replacement procedures. In the healthcare system, wrist replacement surgeries are often performed in outpatient settings, making them more accessible and cost-effective.
However, healthcare reimbursement policies and the high cost of these procedures can be barriers to access. Anatomical plating systems are commonly used in total wrist arthroplasty system and total wrist fusion procedures. These procedures are used to treat various conditions, including arthritis, injuries, and deformities. Pediatric patients may also require wrist replacement procedures due to congenital disorders or accidents. The Drug Administration regulates these procedures and implants to ensure safety and efficacy. Sports injuries and disabilities can also lead to the need for wrist replacement procedures. Overall, the wrist replacement market is expected to continue growing due to the increasing prevalence of orthopedic disorders and the need for effective treatment options.
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Market Scope |
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Report Coverage |
Details |
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Page number |
137 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
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Market growth 2024-2028 |
USD 137.5 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
3.12 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Germany, UK, China, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acumed LLC, Anika Therapeutics Inc., Conmed Corp., Extremity Medical LLC, Integra Lifesciences Corp., Johnson and Johnson Services Inc., Medartis Holding AG, Skeletal Dynamics LLC, Smith and Nephew plc, Stryker Corp., Swemac, Wright Medical Group NV, and Zimmer Biomet Holdings Inc. |
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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 market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
The total wrist replacement market size is forecast to increase by USD 137.5 million, at a CAGR of 3.27% between 2023 and 2028. Market growth analysis is contingent upon several pivotal factors, such as the escalating incidence of road accidents and fatal sports injuries, advancements in prosthetic designs, and the expanding aging population. The rising frequency of road accidents and sports-related injuries underscores the pressing need for advanced medical interventions and prosthetic solutions. Concurrently, the evolution of prosthetic designs reflects ongoing innovations aimed at enhancing functionality, comfort, and durability, thereby meeting diverse patient needs. Moreover, the increasing aging population worldwide amplifies the demand for prosthetics and related medical technologies tailored to improve the quality of life and mobility in elderly individuals. These converging trends drive market expansion by fostering continuous research, development, and adoption of cutting-edge prosthetic technologies. As healthcare sectors globally respond to these challenges and opportunities, the market for prosthetics is poised for sustained growth, addressing critical healthcare needs and improving outcomes for patients across different age groups and medical conditions.
For More Highlights About this Report, Request Free Sample
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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