Fact.MR, a global research & consulting firm, in their latest edition of the report, states that the total wrist prosthesis market will grow at a significant growth rate in 2021 & beyond.
Fact.MR, a global research & consulting firm, in their latest edition of the report, states that the total wrist prosthesis market will grow at a significant growth rate in 2021 & beyond. The growth is majorly driven by growing number of patient pool experiencing rheumatoid arthritis in hand as well as growing number of accidents related to wrist. Since the number of patients experiencing from wrist pain is increasing across the globe as bone related complications are growing, which positively impacts the demand.
“The total wrist prosthesis market players are focusing on producing innovative novel kind of total wrist prosthesis that are light in weight, smooth and easily fix in problem area. These new enhanced total wrist prosthesis are further driving the industry growth.” states Fact.MR.
Increasing Prevalence of Rheumatoid & Osteoarthritis Promotes Growth Prospects
As most of the population is experiencing septic arthritis along with different wrist related problem which is ultimately increasing the demand. As per International Osteoporosis Foundation, osteoporosis leads to over 8.9 Mn fractures worldwide, ensuing in an osteoporotic fracture every 3 seconds. While as per the US FDA in the year 2017, about 1.5 Mn U.S. adults were recorded to suffer from rheumatoid arthritis as well as 3.0 Mn U.S. adults are living with gout.
Therefore, the number of rheumatoid arthritis and osteoporosis rising continuously and impacting the population is driving the demand.
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MWP III Total Wrist Prosthesis to Remain Lucrative
MWP III, Biax, and Uncemented Universal 2 Total Wrist Prosthesis are the three product types recognized in the total wrist prosthesis market. These products are intended to stretch the wrist function over time. Among these, MWP III Total Wrist Prosthesis is anticipated to remain lucrative as a result of better outcome as compared to other product types.
How Big is the Opportunity for Market Players in US?
The US has prominent market share as majority of the population are experiencing wrist rheumatoid arthritis as well as the presence of key market players directly supports the region’s growth. The enhanced healthcare system together with reimbursement landscape offer development prospects to overall market for wrist prosthesis.
The UK, China and India are the rising market for total wrist prosthesis as a result of the refining healthcare system together with growing number of hospitals that facilitates with surgery instruments are driving growth within these region.
Growing focus of healthcare system in GCC, S. Africa, and Rest of MEA will be supporting the growing demand.
Constant Product Development Remain Key Focus Area: Fact.MR Survey
The total wrist prosthesis market is moderately competitive. Fact.MR’s survey indicated that the market players are focusing on incessant product development as well as offering devices at competitive prices, especially in developing countries. in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Acumed, Zimmer Biomet, DePuy Synthes (Sub. Johnson & Johnson Services, Inc.), Swemac, Medartis, Skeletal Dynamics LLC, Integra LifeSciences Corporation, and others. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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