Global Total Wrist Replacement Market Size

Statistics for the 2023 & 2024 Global Total Wrist Replacement market size, created by Mordor Intelligence™ Industry Reports. Global Total Wrist Replacement size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Global Total Wrist Replacement Industry

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Total Wrist Replacement Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 3.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Total Wrist Replacement Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Total Wrist Replacement Market Analysis

The total wrist replacement market is expected to register a CAGR of 3.5% over the forecast period.

The outbreak of COVID-19 has significantly impacted the total wrist replacement market. This was due to the strict regulations imposed on elective and non-urgent surgeries during the initial stages of the pandemic. For instance, the article published in Bone and Joint Open journal in January 2022 mentioned a 32% reduction in hand and trauma services, and the surgical procedures on hand trauma were reduced by 41% compared to 2021. Such reduction in the surgical volume and patient inflow during the pandemic had a notable impact on the market. However, the resumption of wrist surgeries during the post-pandemic period after the relaxation of strict lockdown procedures is expected to contribute to the market's growth.

The key factors propelling the growth of the total wrist replacement market are the increasing aging population, the increasing prevalence of rheumatoid and osteoarthritis, and the increase in fracture and accident cases. For instance, according to the NCBI article published in September 2022, the incidence of rheumatoid arthritis in Northern Europe and Northern America was 24 and 36 cases per 100,000 people, respectively. Similarly, another NCBI article published in 2021 mentioned that globally, osteoarthritis prevalence increased by 8.5%-9.3% in 2021. The article also mentioned that the regional prevalence of osteoarthritis was 22.5% in North America, 7.2% in Western Europe, 8.4% in Central Asia, and 12.8% in North Africa and the Middle East in 2021. Such prevalence of osteoarthritis and rheumatoid arthritis, which increase the possibility of wrist replacement, is expected to drive the demand for total wrist replacement, thereby contributing to the market's growth over the forecast period.

On the other hand, rising product developments and approvals are expected to drive the growth of the studied market over the forecast period. For instance, in May 2021, the Orthopaedic Implant Company announced the United States Food and Drug Administration clearance and commercial launch of its wrist fracture plating technology, the DRPx System. Additionally, in May 2021, Hospital for Special Surgery surgeon developed a wrist implant, KninematX, total wrist arthroplasty system. The surgeon also performed wrist-replacement surgery using this implant.

However, the high costs involved in wrist reconstruction surgeries are expected to hinder market growth during the forecast period.

Total Wrist Replacement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)