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The total wrist replacement industry is competitive in nature, with numerous large multinational corporations as well as small and mid-sized companies vying for market share. A crucial aspect of market strategy involves the continual development and introduction of innovative products based on various technologies. Further, continuous innovation, clinical evidence generation, and customer-centric strategies are crucial for success in this competitive market.
Some of the eminent market participants operating in the total wrist replacement industry include:
Total wrist replacement (TWR) industry size was USD 186.4 million in 2023 and is set to expand at 6.5% CAGR during 2024-2032 attributed to the increasing cases of trauma and accidents, rising prevalence of rheumatoid arthritis and osteoarthritis along with technological advancements.
North America total wrist replacement industry size accounted for USD 74.5 million in 2023 and is set to expand at a notable CAGR between 2024 and 2032 owing to the surge in fracture and accident cases along with the increasing awareness about treatment options in the region.
Total wrist replacement segment is anticipated to reach USD 218.7 million by 2032 owing to its growing demand as patients undergoing TWR typically experience better postoperative range of motion and functional outcomes.
Some of the top firms engaged in the total wrist replacement industry are Acumed LLC, Anika Therapeutics Inc., Arthrex, Inc, DJO, LLC, Extremity Medical, Integra LifeSciences Corporation, MicroPort Orthopedics, Inc, Smith+Nephew, Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet.