Global orthopedic splints and casts market size, by Product Type (Casts and Splints), by End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,160.6 million in 2017, and is projected to exhibit a CAGR of 6.1% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
The orthopedic splints and casts market is expected to gain significant traction over the forecast period, as manufacturers in the market are focused on developing cost-effective fiberglass casts and splints with innovative design and biocompatible materials.
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Increasing incidence of trauma due to accidents and falls to augment market growth
Increasing incidence of trauma associated with road accidents, falls, and sports injuries causing severe skeletal injuries is expected to propel the orthopedic splints and casts market growth. According to the Global Burden of Disease report published by Lancet in 2015, road injuries is one of leading causes amongst 20 causes of the disease burden worldwide.
Also, according to World Health Organization factsheet 2018, road accidents cause between 20 million and 50 million injuries every year, worldwide and is the leading cause of death among people aged 15-29 years. Also, over 1.25 million people die each year as a result of road traffic crashes.
Furthermore, falls from height cause serious injuries, leading to hip or knee fractures, bruises, and head trauma. According to World Health Organization (WHO), 2018, around 37.3 million falls requiring medical attention were recorded, where an estimated 646,000 individuals die from falls globally, every year.
Browse 38 Market Data Tables and 26 Figures spread through 163 Pages and in-depth TOC on “Orthopedic Splints and Casts Market, by Product Type (Casts and Splints), by End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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Development of casts with open-lattice plastic design and through innovative technologies is also expected to boost sales of casting and splinting products worldwide, thus propelling the market growth.
For instance, in 2016, Xkelet EasyLife SL, using its 3D printing technology developed 3-D-printed casts providing waterproof, customized, and comfortable option to patients, where the scanner gathers specifications of the broken limb, and a design software program builds a personalized cast. Also, printing casts eliminates the variability of hand molding, whereas the openings allow doctors to easily assess skin health and ease the re-dressing of wounds, which may reduce the number of follow-up visits, thus increasing the adoption of these splints across medical facilities.
Also, the new fiberglass tape- Delta Lite Plus by BSN Medical, combines fiberglass substrate and advanced water activated polyurethane resin system, which provides tack free properties, allowing for easy application and molding.
Key Takeaways of the Orthopedic Splints and Casts Market:
- The global orthopedic splints and casts market is expected to exhibit a CAGR of 6.1% over the forecast period, owing to the rising number of trauma cases and musculoskeletal problems associated with the growing geriatric population, which is highly susceptible to bone fractures and osteoporosis
- Among product types, the casts segment holds a dominant position in the orthopedic splints and casts market, as casts provide more effective immobilization than splints and are widely adopted to manage serious injuries
- Among end users, the hospitals segment holds a dominant position owing to the rising number of surgical procedures being performed in the medical setting and growing adoption of innovative orthopedic productsSome of the major players operating in the global orthopedic splints and casts market are Essity Aktiebolag – BSN Medical, DJO Global, Inc., Zimmer Biomet Holdings, Inc., Ossur Americas, Inc., Prime Medical, Inc., DeRoyal Industries, Inc., Alimed, Inc., 3M, Orfit Industries N.V., and Corflex, Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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