Total Wrist Replacement Market:
WiseGuyReports.com adds “Global Total Wrist Replacement Market Size, Status and Forecast 2019-2025” reports to its database.
Executive Summary
Wrist replacement is a procedure where the injured wrist is replaced or provided with support which unable to carry out its normal functions. Wrist replacement is often considered as a treatment for various forms of arthritis including osteoarthritis and rheumatoid osteoarthritis. Wrist replacement or reconstruction can also be done for the correction of wrist deformities. A number of wrist replacement procedures are elevating owing to the innovation in technology and the manufacturing of advanced orthopedic implants. Further, strategic collaboration and new product launches has enabled market vendors to capitalize on growth opportunities from virgin markets.
The global total wrist replacement market is expected to upscale at a remarkable rate, as per the latest report. Some of the primary factors contributing to the ascension of the market include the rising geriatric population and an increasing prevalence of rheumatoid and osteoarthritis. As per the International Osteoporosis Foundation, osteoporosis has caused more than 8.9 million fractures globally. The osteoporosis and lower bone mass are two most prevalent reasons for wrist damage, creating a need for total wrist replacement or reconstruction services. Moreover, growing awareness towards the treatment options available for wrist injuries is also accentuating the demand for the same.
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Even though the global total wrist replacement market is expected to ascend at an impressive pace, there are a couple of factors hindering market growth over the forecast period. High cost of treatment is one such factor. Owing to the prevalence of majority of the population belonging to lower or middle-income groups, such a surgery can be unaffordable for them. This has stagnated the adoption rate for total wrist replacement market.
Market Segmentation
The global total wrist replacement market is segmented based on several aspects to gain a comprehensive and detailed analysis of the market landscape. Such segmentation has been provided on the basis of type, application, and region. By type, the global total wrist replacement market is segmented into total wrist replacement and total wrist fusion. By application, the global total wrist reconstruction market is segmented into hospitals and medical institutions.
Detailed Regional Analysis
The global total wrist replacement market is studied for the geographical segments of North America, Asia Pacific, the Middle East & Africa, Europe, and Latin America. Within North America, the rising prevalence of arthritis and osteoporosis has driven the procedural growth, aiding in the ascension of the market. Currently, North America is likely to dominate the total wrist replacement market owing to the rising prevalence of geriatric population. Europe is expected to follow North America and garner the second-largest share of the market. This can be owed to the rising acceptance and shifting preference towards highly developed technology.
Asia Pacific is expected to be a promising growth prospect for the total wrist replacement market and is anticipated to mushroom at an impressive pace over the review period. This can be attributed to the snowballing medical tourism industry in the region, along with mounting disposable income of patients.
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