The global wrist joint market was estimated to be valued at USD XX million in 2018 and is projected to reach USD XX million/billion by 2025, at a CAGR of XX% during 2018 to 2025. Scope of global wrist joint market includes by Type (DIP - Distal Interphalangeal Joint, PIP - Proximal Interphalangeal Joint, MCP - Metacarpophalangeal Joint), by Application (Joint Replacement, Joint Repairment), by End Users (Hospital, Clinic, Ambulatory Surgical Centers), and by Region (North America- U.S., Canada; Europe- U.K., France, Germany; Asia-Pacific- China, Japan, India; Latin America- Brazil, Mexico; Middle East & Africa- South Africa, Saudi Arabia).
The wrist is the articulation of the two forearm bones, the ulna and the radius, with the double row of eight carpal bones. There is an articular disc between the dished surface of the radius and the proximal carpal row of bones.
As wrist replacement procedures are particularly niche, the development and marketing of a new implant requires immense financial resources for what could potentially be a very low payoff. Although entry into the market is relatively easy, penetration is more difficult, so acquisitions are likely in this highly fragmented, fast-evolving extremities space.
Treatment in cases of significant joint wear falls either into replacement or fusion. Joint replacement has the benefit of preserving mobility; however, the design of such implants does not allow the patient to carry heavy loads. Fusion of the joint eliminates diseased joint surfaces by fixing the two sides of the joint together. This also eliminates the natural motion of the joint and places additional stress on the surrounding joints; however, it is advantageous because a fused joint can carry more load than a replaced joint.
Globally, the prevalence of arthritis is on a rise. With the increasing incidences of arthritis, the growth of the small joint reconstructive implants market may be affected positively. According to the Arthritis Foundation, it is a leading cause of disability among adults in the U.S. Moreover, approximately, 300,000 babies and children have arthritis or a rheumatic condition in the country. It is also expected that more than 74 million Americans would be suffering from arthritis by 2040.
In addition, the elderly population is more susceptible to bone associated disabilities, due to which the demand for medical devices, which aid in the diagnosis and management of diseases, is high in this demographic category. Thus, with the increasing geriatric population, the demand for small joint reconstructive implants is expected to rise in various regions across the globe, to facilitate proper diagnosis and treatment. Therefore, surge in geriatric population is propelling the growth of wrist replacement market.
The global Wrist Joint market is primarily segmented by Type, Application, End Users, and region.
On the basis of Type, the market is split into:
* DIP - Distal Interphalangeal Joint
* PIP - Proximal Interphalangeal Joint
* MCP - Metacarpophalangeal Joint
Based on Application, the market is divided into:
* Joint Replacement
* Joint Repairment
Based on the End Users, the market is segmented into:
* Ambulatory Surgical Centers
Moreover, the market is classified across regions and countries as follows:
* North America- U.S., Canada
* Europe- Russia, U.K., France, Germany, Italy
* Asia-Pacific- China, Japan, India, Australia
* Latin America- Brazil, Mexico
* Middle East & Africa- South Africa, Egypt, Saudi Arabia
Key Market Players:
The key players profiled in the market include:
* North Yorkshire Orthopaedic
* Total Ankle Institute
* Medical Excellence JAPAN
* Jennifer FitzPatrick
* Dolomiti Sportclinic
* ZT Medical
* Smith & Nephew plc.
* Integra LifeSciences Holdings Corporation
* DePuy Synthes Companies
* Zimmer Biomet Holdings Inc.
* Stryker Corporation
* Orthofix Medical Inc.
* Wright Medical Group N.V.
* Arthrex Inc.
* Acumed LLC
* Exactech Inc.
* DJO Global Inc.
These enterprises are focusing on growth strategies, such as new product launches, expansions, acquisitions, and agreements & partnerships to expand their business across the globe.
Key Benefits of the Report:
* Global, regional, country, type, end users, and application market size and their forecast from 2014-2025
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on Key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, types, end users, and applications with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of Wrist Joint Market
* Wrist Joint Treatment Provider
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Raw Material Providers
* Government Body & Associations
* Research Institutes