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Total Wrist Replacement Market Size

Report ID: GMI8598
Published Date: Mar 2024
Report Format: PDF

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Total Wrist Replacement Market Size

Total Wrist Replacement Market size was valued at around USD 186.4 million in 2023 and is expected to reach around USD 331.2 million by 2032 at a CAGR of 6.5% during the forecast period. Factors such as increasing cases of trauma and accidents, rising prevalence of rheumatoid arthritis and osteoarthritis along with technological advancements in products is anticipated to propel the market growth.

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The increasing rates of rheumatoid arthritis (RA) and osteoarthritis present significant market challenges globally, impacting productivity, healthcare costs, and individual well-being. Factors like obesity, sedentary lifestyles, and an aging population exacerbate this trend. For instance, as per the data reported by Centers for Disease Control and Prevention (CDC), the prevalence of diagnosed arthritis in the U.S. is significant, with about 21.2% of adults aged 18 years and older reporting diagnosed arthritis during the period from 2019 to 2021. Overall, this rising prevalence of these disorders underscores the importance and necessity of early diagnosis, better treatment, and effective management strategies for such conditions.

Total Wrist Replacement Market Report Attributes
Report Attribute	Details
Base Year:	2023
Total Wrist Replacement Market Size in 2023:	USD 186.4 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.5%
2024 – 2032 Value Projection:	USD 331.2 Million
Historical Data for:	2021 – 2023
No. of Pages:	120
Tables, Charts & Figures:	186
Segments covered:	Technology, Fixation Type, End-use and Region
Growth Drivers:	Rising prevalence of rheumatoid and osteoarthritis Surge in fracture and accident cases Advancements in product developments and approvals
Pitfalls & Challenges:	High cost of wrist replacement procedures Limited insurance coverages

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Total wrist replacement is a surgical procedure aimed at relieving pain and restoring function in patients with severe wrist arthritis or other conditions that have led to irreparable damage in the wrist joint. This procedure involves replacing the damaged parts of the wrist joint with artificial components made of metal and plastic.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.