Pune, India, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The global wrist replacement market w will witness considerable growth in the coming years due to recent product advancements associated with these surgeries. According to a report by Fortune Business Insights, titled “Wrist Replacement Market Size, Share and Global Trend By Technology (Total Wrist Replacement, Total Wrist Fusion), By End User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers, Others), and Geography Forecast till 2026,” the market will derive growth from the high prevalence of arthritis around the world.
Wrist replacement refers to a process of either providing support to the damaged wrist or replacing the wrist altogether through surgical procedures. Wrist replacement is often conducted in people with osteoarthritis and rheumatoid arthritis disorders. The ability of wrist replacement surgeries to correct bone and joint deformities has led to a rising uptake among surgeons around the world. Recent technological innovations in the equipment associated with wrist replacement procedures have led to an increase in demand for these procedures around the world. The report enlists several factors that have constituted an increase in the global wrist replacement market value in recent years. Additionally, the report also identifies a few factors that have limited the growth of the market in recent years. The increasing prevalence of arthritis and injuries have led to a rising uptake for wrist replacement procedures, which will lead to the growth of the global wrist replacement market in the coming years.
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Recent Product Innovations Will Favor Wrist Replacement Market Growth
The demand for wrist replacement surgeries has risen drastically in the past decade due to increasing incidence of arthritis and injuries. The outcry for fast-paced and efficient wrist replacement surgeries has led to numerous product innovations in recent years. Fortune Business Insights predicts that an increasing number of innovative products will contribute to the growing demand for wrist replacement procedures, which in turn, will aid the growth of the global wrist replacement market in the coming years. In 2017, OrthoPediatrics Corp. announced the launch of a new pediatric-specific wrist replacement aiding equipment.
The ‘Wrist Fusion Plate System’ is aimed at the treatment of patients with and without proximal row corpectomy (PRC). The device has helped OrthoPediatrics generate a substantial amount of wrist replacement market revenue. The report includes product launches similar to OrthoPediatrics’ latest device and gauges the impact of such products on the global market.
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Launch of Technologically Sound Equipment to Aid Growth of the Market in North America
The high prevalence of arthritis and other orthopedic disorders has given rise to several product innovations in North America. This, combined with the presence of numerous wrist replacement market companies, has led to the need for product innovations. Increasing incidence of sports injuries has contributed to the demand for wrist replacement in North America. Furthermore, the growing adoption of 3-dimensional printing technology will favor growth of the market in North America. Additionally, favourable health reimbursement policies will lead to a rising uptake of wrist replacement surgeries in North America, which in turn will have a positive impact on the global wrist replacement market. Fortune Business Insights predicts that North America will account for the largest share in the global wrist replacement market during the forecast period. Having said that, Asia Pacific will witness the highest CAGR due to increasing disposable income and improving healthcare infrastructure.
Fortune Business Insights profiles a few of the most prominent wrist replacement market companies. Some of the leading companies that are operating in the market include Stryker, Acumed LLC, Zimmer Biomet, Integra LifeSciences, and DePuy Synthes.
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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