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MediPoint: Wrist Replacement - Europe Analysis and Market Forecasts

  • May 2017
  • 36 pages
  • GlobalData
Report ID: 5013010

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MediPoint: Wrist Replacement - Europe Analysis and Market Forecasts

Summary
European wrist replacement market was estimated at US$10.4M in 2016 across the 21 markets covered in this report (Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and UK). By the end of the forecast period in 2023, it is estimated that the market will grow to approximately US$13.3M at a Compound Annual Growth Rate (CAGR) of 3.5%.

Total wrist arthroplasty (TWA) is a surgical intervention with the goal of reducing wrist pain and increasing joint mobility for patients suffering from rheumatoid arthritis (RA) and is increasingly being used for other indications such as osteoarthritis (OA) and posttraumatic arthritis. It is recommended in cases where less invasive operative techniques are ineffective and as an alternative to total wrist fusion (TWF). For low-demand patients, total wrist replacement (TWR) provides the necessary range of motion to engage in normal daily activities, although it remains a relatively rare procedure.

Germany represented the largest portion of the market in 2016, holding close to 25% of the regional revenue, and is expected to maintain this dominance through the forecast period. Norway is expected to be the fastest-growing market through 2023, at a CAGR of 4.5%, while the slowest growth will be observed in Greece with a CAGR of 1.3%.

Most of the wrist replacement market is occupied by a few players, including Stryker, Zimmer Biomet, Wright Medical, and Integra LifeSciences. These companies are dominant players in the medical device industry with significant clinical research data driving product adoption as well as expansive sales and distribution networks. Innovation as well as good educational and technical support from these manufacturers can significantly accelerate the uptake of new technologies. There is need for technology development in the bearing surface and the fixation of the hand component of wrist implants, and key players have incentives to invest in the preoperative training of surgeons. Old and new medical device companies looking to enter the small joint replacement market should understand that only through well-designed teaching seminars and efficient communication with surgeons will the market enjoy better growth.

The report "MediPoint: Wrist Replacement - Europe Analysis and Market Forecasts" focuses on the market outlook for wrist replacement devices in Europe (Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and UK). The analysis identifies the key unmet needs in the wrist replacement market, discusses the major drivers and barriers of adoption, and provides an in-depth understanding of physicians’ perceptions and the future outlook for this market by segment and geography.

In particular, this report provides the following -
- Overview of recent key industry events and analysis of their market impact.
- Annualized total market revenue, procedure trends, and market outlooks by segment and by region through 2023.
- Key topics covered include strategic competitor assessment, market characterization, identification of unmet needs, reimbursement considerations, evaluating market access in each region covered in the report, and implications of the emerging technologies in the market.
- Analysis of the current and future market competition in the global wrist replacement market. Insightful review of industry drivers, barriers, and challenges.

Companies mentioned in this report: Integra LifeSciences, Zimmer Biomet, Wright Medical, Stryker, Swemac, Evolutis, Extremity Medical, Arthrosurface.

Scope
- Overview of recent key industry events and analysis of their market impact.
- Annualized total market revenue, procedure trends, and market outlooks by segment and by region through 2023.
- Key topics covered include strategic competitor assessment, market characterization, identification of unmet needs, reimbursement considerations, evaluating market access in each region covered in the report, and implications of the emerging technologies in the market.
- Analysis of the current and future market competition in the European wrist replacement market. Insightful review of industry drivers, barriers, and challenges.

Reasons to buy
The report will enable you to -
- Develop and design your in-licensing and out-licensing strategies through a review of marketed products and technologies.
- Develop business strategies by understanding the trends shaping and driving the wrist replacement market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the wrist replacement market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the performance of various competitors.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in country-specific wrist replacement market from 2014-2023.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

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