Wrist Replacement Market: Introduction
- Wrist replacement, also known as wrist arthroplasty, is a surgical procedure in which the diseased or damaged joint is replaced by an artificial joint or prosthesis. The prosthesis helps create a pain-free joint, providing a functional range of movement, when conservative treatments fail.
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- Wrist replacement is a common form of treatment offered to patients with rheumatoid arthritis. It is also employed for the treatment of patients with post-traumatic arthritis and osteoarthritis.
- The conditions in which wrist replacement is recommended include joint destruction due to tumors, and correction of wrist deformities
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Key Drivers and Restraints of Global Wrist Replacement Market
- Expansion of the wrist replacement market can be attributed to an increase in the geriatric population. Additionally, expansion of the market can be attributed to an increase in prevalence of rheumatoid arthritis and osteoarthritis. The prevalence of wrist fracture is estimated to be higher in geriatric men as compared to that in geriatric women.
- According to International Osteoporosis Foundation, the prevalence of osteoporosis, globally, is estimated to be around 8.9 million fractures, annually, resulting in an osteoporotic fracture every three seconds. Furthermore, the loss of bone mass in the vertebrae drives the incidence of osteoporosis.
- Prevalence of rheumatoid arthritis is known to vary between 0.3% and 1%. Furthermore, it is known to be significantly more common in women than in men. According to the Centers for Disease Control and Prevention, over 55 million adults in the U.S. suffer from arthritis.
- Over 294,000 children under the age of 18 in the U.S. suffer from osteoporosis and rheumatoid arthritis, thereby fueling the wrist replacement market
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North America to Lead Global Wrist Replacement Market
- In terms of region, the global wrist replacement market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global wrist replacement market in 2019, owing to high prevalence of osteoporosis and rheumatoid arthritis among the population. Expansion of the market in the region can be also be attributed to an increase in focus on research & development and government initiatives.
- Europe was also a vital market for wrist replacement, globally, in 2019. Expansion of the market in the region can be attributed to an increase in incidence of osteoporosis and arthritis, rise in awareness about the range of treatments available, and a surge in disposable income among people.
- The market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Rise in focus of governments of countries in Asia on enhancing healthcare facilities, increase in focus of market players on Asia Pacific to leverage growth opportunities, and increase in patient pool are key factors further driving the wrist replacement market in the region.
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Key Players Operating in Global Wrist Replacement Market
Market players are focusing on expanding their presence in the global wrist replacement market by adopting the inorganic growth strategy. Leading players in the global wrist replacement market are:
- Zimmer Biomet
- Integra Lifesciences Holdings Corporation
- Johnson & Johnson
- Stryker Corporation
- Acemed LLC
- Depuy Synthes International
- Biomet Orthopedics
- Medartis AG
- Small Bone Innovation Inc.
- Skeletal Dynamics
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