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NEW YORK, April 15, 2022 /PRNewswire/ — The global total wrist replacement market size is expected to increase by USD 165.9 million between 2021 and 2026. According to the report, the market is set to witness a YOY growth of 3.0% in 2022 and the growth momentum will accelerate at a CAGR of 3.9% during the forecast period. The report identifies Acumed LLC, Anika Therapeutics Inc ., Extremity Medical LLC, Integra LifeSciences Corp., and Johnson and Johnson as some of the dominant players in the market. North America is expected to offer significant growth opportunities for market players during the forecast period.
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The 120-pages report segments the global total wrist replacement market by end-user (hospitals and clinics, ambulatory surgical centers, and others) and geography (North America, Europe, Asiaand Rest of the World (ROW)).
Hospitals and clinics are the prime end-users in the market. Hospitals and clinics are required to regularly upgrade themselves technologically. In addition, the availability of highly skilled physicians and technicians in hospitals and clinics is driving the growth of the segment.
North America will have the largest share of the market during the forecast period. The region currently holds 43% of the global market share. The growth of the regional market is driven by the increasing prevalence of osteoarthritis and related risk factors. The US and Canada are the key markets for total wrist replacement in North America.
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The market is driven by the growing number of road accidents and fatal sports injuries. In addition, the increasing R and D of 3D printed wrist implants and surgical instruments is anticipated to boost the growth of the total wrist replacement market.
The injuries sustained by people during sports and road accidents is one of the major causes of dislocations and severe fractures. Many sports and road-accident-related injuries mostly affect the wrist in the lower extremities. The treatment of such injuries is complex as it involves the correction of dislocations and repositioning of bones and soft tissues. Physicians use rotation correction plates, screws, and hand systems to treat such injuries. Thus, with the increasing number of sports injuries and road accidents, the demand for such replacement kits will increase during the forecast period, thereby driving the growth of the market.
Major Vendors in Total Wrist Replacement Market:
The global total wrist replacement market is concentrated. The market is characterized by the presence of few medical device manufacturers and pharmaceutical giants offering products for arthroplasty. Vendors in the market are focusing on achieving a competitive edge by adopting the latest technologies and increasing their margins according to to the changing market conditions in end-user industries. The following are identified as the dominant players by Technavio.
Acumed LLC: The company offers total wrist replacement products such as Acu-Loc 2 Wrist Plating System, Arc Wrist Tower, and ExtremiLock Wrist Plating System.
Anika Therapeutics Inc.: The company offers WristMotion TWA System. The product is focused on alleviating pain and restoring functions of the arthritic wrist joint.
Extremity Medical LLC: The company offers KinematX. It is the one and only midcarpal implant designed to emulate the natural wrist range of motion in patients with wrist arthritis and other degenerative wrist conditions.
Integra LifeSciences Corp.: The company offers Integra Total Wrist Fusion System, a solution for wrist arthrodesis which is designed to provide fixation of the wrist while decreasing soft tissue irritation.
Johnson and Johnson: The company offers LCP Wrist Fusion System which consists of anatomic plates, featuring locking compression technology for total wrist fusions.
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Total Wrist Replacement Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.9% |
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Market growth 2022-2026 |
USD 165.9 million |
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Market structure |
Concentrated |
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YoY growth (%) |
3.0 |
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Full story available on Benzinga.com
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