Allied Market Research

2024

Wrist Replacement Orthopedic Devices Market

Wrist Replacement Orthopedic Devices Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type (Equipment, Disposables), by End User (Hospitals, Clinics, Diagnostic Laboratories, Others) and by Expenditure (Public, Private): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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Wrist replacement is a surgical procedure used to relieve wrist pain and increase joint movement in patients with rheumatoid arthritis. Replacement of damaged cartilage or bone in the wrist joint is referred to as wrist replacement. Moreover, wrist bone is resurfaced with implants made of metal alloy or polyethylene to mimic the functions of a healthy joint. Wrist replacement orthopedic devices are intended to provide additional support to the wrist to avoid complications. This orthopedic device assists in keeping weak joints and limbs at the proper position.

COVID-19 Impact Analysis             

COVID-19 is an infectious disease that first emerged in late December in Hubei province of the Wuhan city in China. The virus that causes, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is highly infectious and is transmitted from person to person. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a pandemic on March 11, 2020.

There is an increase has been witnessed in the demand for medical supplies needed for the infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the primarily used medical devices in clinical treatment. Moreover, COVID-19 has also resulted in significant increase in the demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. The need for medical supplies has increased among both from the healthcare professionals and the civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have an opportunity to profit from this increased demand for medical supplies to ensure appropriate and consistent supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the wrist replacement orthopedic devices market.

Top Impacting Factors

  • Increase in cases of arthritis, rise in adoption of orthopedic devices, surge in demand for orthopedic implants, rise in geriatric population, and increase in risk of osteoporosis and osteoarthritis drive the growth of the wrist replacement orthopedic devices market.
  • Furthermore, increase in demand for sports, rise in use of advanced wrist replacement procedures, surge in the number of cases of wrist injury due to accidents and diseases, rise in emerging technology in developing countries, R&D activities to improve orthopedic devices quality, and launch of novel orthopedic devices, and collaboration & joint ventures by key market players boost the growth of the market.
  • However, stringent government policies for orthopedic implants approval limit the growth of the wrist replacement orthopedic market.
  • Rise in healthcare costs and emerging market opportunities provide lucrative opportunities for the market.

Market Trend

New Product Launches to Flourish the Market

The FDA approved KinematX, a total wrist replacement orthopedic device developed by Bioengineering Laboratory in 2020. KinematX is an orthopedic device that closely resembles the human wrist structure.

Anika announced FDA clearance for its product WristMotion total arthroplasty for wrist replacement orthopedic device in 2020. This device is used to treat a painful wrist joint.

Key Benefits of the Report

  • This study presents the analytical depiction of wrist replacement orthopedic devices market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed to highlight the growth scenario of the wrist replacement orthopedic devices market.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis depending on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Wrist Replacement Orthopedic Devices Market Report      

  • Who are the leading market players active in the wrist replacement orthopedic devices market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the future projections that would help in taking further strategic steps?
  • What is "wrist replacement orthopedic devices"?
  • What is the prediction of the "wrist replacement orthopedic devices" market in the future?
  • Who are the leading global players in the "wrist replacement orthopedic devices" market?
  • What are the current and predicted trends?
  • What are the key benefits of the "wrist replacement orthopedic devices" market report?

Wrist Replacement Orthopedic Devices Market Report Highlights

Aspects Details
Wrist Replacement Orthopedic Devices Market By Product Type
By Product Type
  • Equipment
  • Disposables
Wrist Replacement Orthopedic Devices Market By End User
By End User
  • Hospitals
  • Clinics
  • Diagnostic Laboratories
  • Others
Wrist Replacement Orthopedic Devices Market By Expenditure
By Expenditure
  • Public
  • Private
Wrist Replacement Orthopedic Devices Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players
Key Market Players

CONMED Corporation, Ossur, Nuvasive, Inc., Zimmer Biomet, SINTX Technologies, Inc., Stryker, Exactech, Inc., Smith & Nephew plc, Johnson and Johnson Services Inc., DJO Global, Inc., Lifesciences, Inc., Alphatec Spine, Inc., Wright Medical Group N.V., Globus Medical

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Wrist Replacement Orthopedic Devices Market

Global Opportunity Analysis and Industry Forecast, 2023-2032