The global orthopedic splints and casts market is expected to grow at a CAGR of 6.06% from 2021 to 2027
MARKET TRENDS AND OPPORTUNITIES. Growing Demand For 3D Printed Casts & Splints. The area of orthopedic medicine is best suited for this technology, and the current approach comes in creating orthotics, prosthetics, custom complete joint arthroplasty implants, and others.
New York, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Orthopedic Splints and Casts Market - Global Outlook & Forecast 2022-2027" - https://www.reportlinker.com/p06415606/?utm_source=GNWOrthopedics is one of the most speedily advancing fields in medicine. With musculoskeletal problems, new technology and treatment are developing yearly to aid patients. 3D-printed orthoses allow digital technology to enhance the patient’s experience while delivering appropriate immobilization. By scanning the limb, the fit of the cast matches the patient’s exact anatomy. This prevents pressure points and allows for open areas over wounds or incisions. Interestingly, a 3D cast model has been developed, incorporating a bone stimulator directly into its design.
Many emerging companies in the orthopedic splints and casts market are developing 3D-printed splints & casts. For instance, ActiveArmour, a leading global company in 3D printed casting/splinting, designs a wholly individualized and fitted splint based on the physician’s specific positioning and instructions for each patient’s unique needs.
Introduction of Spray-Based Form Splint
Inventions for fixing broken bones are offered to companies wishing to license and commercialize them. Dr. Army orthopedic surgeon Kevin Martin developed and tested a new approach using fast-curing foam. Polyurethane foam is sprayed directly onto the skin, eliminating the need for nasty and unsanitary cotton swabs. Medications such as antibiotics, pain relievers, and coagulants can be added to the foam. Note that fractures can be fixed without manipulation, which reduces the chance of secondary tissue damage, bleeding, and infection. This new process is also unique. Early studies show that spray foam splints offer better fracture resistance and are easier to apply than traditional splints.
The introduction of this innovative concept around orthopedic medicine in the orthopedic splints and casts market can be a game changer because of its benefits over conventional orthopedic splints and casts. The emergence of the spray-based form splint is offering leading players and start-ups to develop orthopedic splints & casts with the help of polyurethane spray in the orthopedic splints & casts.
Increasing Target Patient Population
The number of older people is expected to double by 2050 to 1.5 billion. Globally, the population aged 65 and over has risen from 6% in 1990 to 9% in 2019. Orthopedic diseases and injuries affect the musculoskeletal system. This body’s system includes muscles, bones, nerves, joints, ligaments, tendons, and other connective tissues. Chronic orthopedic disease or injury can damage these tissues or structures.
Worldwide, 1.3 million people die yearly in road accidents, 70% of which occur in developing countries. Pedestrians are involved in 65% of deaths, 35% of which are children. Twenty to 50 million people have suffered non-fatal injuries in road accidents. These non-fatal injuries lead to fractures, bone damage, or other severe orthopedic problem. Therefore, a large target patient population, such as osteoporosis, fractures, arthritis, and road accident injury, has led to splinting and casting to heal the damaged part of the body. The technological advancements in splints and casts are helping even faster to recover or heal the injured body part. Thus, the increasing prevalence of aging, musculoskeletal disorders, sports, injury, and road accident injuries has boosted the orthopedic splints and casts market.
*SEGMENTATION ANALYSIS
INSIGHTS BY PRODUCT*
The global orthopedic splints and casts market is segmented into Casts and splints by product segment. The casts accounted for the largest share of 61.06% globally in 2021. Casts come in many shapes and sizes, but plaster and fiberglass are the two most used types. These are effective and efficient ways to treat fractures. Moreover, the Plaster of Paris (POP) has been a trusted expert for over 75 years. The ready-to-use casts are made from the highest quality, specially woven fabrics, and the popular POP bandage or cast is Gypsona, offered by Essity Medical. The product has gained tremendous popularity in the global orthopedic splints and casts market.
The size of the orthopedic splint segment is expected to increase significantly at a CAGR of 6.37% during the forecast period due to the rapidly growing target population. The vastly increasing number of older people worldwide gives way to an increasing burden of bone fractures and musculoskeletal disorders due to age-related osteoporosis. The rise in bone diseases, trauma, road accidents, and falls significantly generate market revenue.
Segmentation by Product
• Casts
• Splints
*INSIGHTS BY MATERIAL*
Synthetic splints & casts accounted for the largest share of 67.86% in the global orthopedic splints and casts market in 2021 by material type. Today, synthetic splints & casts are used more often than plaster casts. They’re usually made from fiberglass, polyester, polyethylene, nylon, and other synthetic fabric materials. Under synthetic segmentation, fiberglass splints & casts are the most significant sub-segments. The synthetic segment market growth is attributed to the various advantages of fiberglass splints & casts over other types of splints & casts.
The global orthopedic splints and casts market by plaster of Paris splints & casts was valued at USD 752.36 million in 2021. Casting materials have enhanced significantly over the years; however, POP splints & casts are still widely used and familiar to all physicians. Plaster is used after repositioning the bone because it can be well molded to the patient and support the bone more precisely. When a bone is out of position and is manipulated back into place, plaster may be used to help hold the bone in the proper place.
Segmentation by Material
• Synthetic Splints & Casts
• Plaster of Paris Splints & Casts
*INSIGHTS BY BODY PART*
The upper body accounted for the largest share of 53.14% in the global orthopedic splints and casts market in 2021 by body parts segment. Upper extremity disability due to MSDs is a common health problem in the general population and patients in primary care. Global and local vendors are coming up with innovative orthopedic splints and cast for upper-body injury resulting from a road accident injury, osteoporosis, elderly fall, sports injury, and other MSDs. For instance, CORFLEX GLOBAL, a leading player headquartered in the US, has vast upper limb splints and casts product portfolio such as ultra fit wrist splints, COOLTEX AG 9” wrist splints, boxer splints, XR cubital tunnel splints, hanging casts, etc.
Segmentation by Body Part
• Upper Body
• Lower Body
*INSIGHTS BY END USER*
The orthotic & orthopedic clinics segment accounts for the highest share of 48.01% in the global orthopedic splints and casts market by end-user. The segment offers exclusive healthcare services to patients with suspected or diagnosed orthopedic diseases. These centers are merely dedicated to treating patients suffering from various orthopedic ailments like arrhythmia and structural heart diseases and offer quality care. This is due to the convenience of sophisticated infrastructure related to diagnosing and treating MSDs in standalone orthopedic centers compared to hospitals.
The global orthopedic splints & casts market by the hospital is growing at a CAGR of 5.65% during the forecast period. The growth is attributed to the fact that most patients still prefer orthopedic surgeries in hospitals rather than other healthcare settings. The hospital is the first point of contact in any road accident, injury, or fracture; people always prefer to move the injured faster into the hospital.
Segmentation by End User
• Orthotic & Orthopedic Clinics
• Hospitals
• Others
*GEOGRAPHICAL ANALYSIS*
The APAC region accounted for a share of 30.27% in the global orthopedic splints and casts market in 2021 and emerged as a leading region in the market. The increased number of MSDs incidence, a growing aging population, and related health conditions contribute to the region’s growth. APAC accommodates many regional and local orthopedic splints and cast manufacturers actively developing innovative orthopedic splints and casts at affordable costs. China, Japan, Australia, India, and South Korea are major countries contributing to the exponential growth of the market in this region. China’s population over 65 years will cover 18.2% of the total by 2030. Due to an aging society and enhancing living standards, the number of people with limb dyskinesia is increasing quickly.
Segmentation by Geography
• APAC
o China
o India
o Japan
o South Korea
o Australia
• Europe
o Germany
o Italy
o Spain
o France
o UK
• North America
o US
o Canada
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o Turkey
o South Africa
o South Arabia
o Egypt
o Nigeria
*VENDOR LANDSCAPE*
Many international, regional, and local vendors characterize the global orthopedic splints and casts market. Essity Medical Solutions, 3M, Breg, envois, DeRoyal Industries, Bauerfeind, and Tynor are the key players in the orthopedic splints and casts market. Prime Medical, Datta Mediproducts, Bird & Cronin, Performance health, DUK-IN, medi, Orthosys, and Alimed have a significant presence in respective regions and countries. Some small start-ups and regional players are also trying to compete in advanced orthopedic splints and casts. Larger healthcare companies tend to acquire, invest in, or partner with these SMEs to diversify their products and participate in digital health.
Recent Developments In The Global Orthopedic Splints And Casts Market
• In early 2019, Enovis (formulary known as Colfax) completed the acquisition of DJO for around USD 3.15 billion. With this acquisition, Colfax aimed to create a new platform for itself in the orthopedic market, as DJO was one of the leading companies in braces and support devices.
• Breg, a leading orthopedic and billing services company, partnered with its UK distributor, Joint Operations, to expand the supply of high-quality orthopedic products to the UK/Ireland market in July 2020.
Key Company Profiles
• Essity Medical Solutions
• 3M
• Enovis
• Breg
• DeRoyal Industries
• Bauerfeind
Other Prominent Vendors
• ALCARE
• Frank Stubbs Company
• Weber Orthopedic LP. DBA Hely & Weber
• medi
• Carolina Narrow Fabric
• Thuasne Group
• Trulife
• Tynor
• Orthosys
• DUK-IN
• Performance Health
• AliMed
• Lohmann & Rauscher
• Elite Orthopaedics
• Allard USA
• BraceAbility
• VISSCO REHABILITATION
• Bird & Cronin
• Datt Mediproducts
• Prime Medical
*KEY QUESTIONS ANSWERED:*
1. How big is the orthopedic splints and casts market?
2. What is the growth rate of the global orthopedic splints and casts market?
3. Which region holds the most prominent global orthopedic splints and casts market share?
4. Who are the key players in the orthopedic splints and casts market?
5. What are the growth opportunities in the orthopedic splints and casts market?
Read the full report: https://www.reportlinker.com/p06415606/?utm_source=GNW
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