Market Trends of Global Total Wrist Replacement Industry
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.
