Orthopedic Splints and Casts Market Size
The Global Orthopedic Splints and Casts Market size was valued at US$ 6,080.48 million in 2022 and is estimated to reach US$ 9,094.14 million by 2031, growing at a CAGR of 5.9% during the forecast period (2024-2031).
An injury is completely enclosed by a cast, which can only be taken off in the medical expert's clinic. Every cast is produced to order from fiberglass or plaster. Splints resemble "half casts." A splint's hard-to portion does not completely encircle the wounded area. An elastic bandage or other material holds it in place. Splints and Casts aid in keeping the broken limb immobile so that the bone can recover properly.
Market Summary
| Metrics | Details |
| Market CAGR | 5.9% |
| Segments Covered | By Product Type, By Application, By End-Users, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The major factors driving the global orthopedic splints and casts market are the increasing incidence of road accidents, and advancements in casting and splinting materials and they aid in proper body alignment, good posture, support, and stabilization.
The increasing incidence of road accidents is expected to drive the market’s growth.
Road accidents claim the lives of about 1.3 million people worldwide annually, according to WHO 2022. There are an additional 20 to 50 million people who sustain non-fatal injuries, many of whom go on to develop disabilities. Additionally, the International Labour Organization estimates that each year there are roughly 160 million cases of work-related disease and 340 million occupational accidents worldwide. These numbers are periodically updated by the ILO, and the updates show a rise in accidents and illness.
One of the biggest causes of death for people between the ages of 5 and 29 is traffic accidents. Serious injuries can also result in head trauma, bruising, and hip or knee fractures. Sales of orthopedic casts and splints are predicted to rise as a result of the development of novel casts with open-lattice plastic designs. And the market's capacity to generate income would be significantly influenced by the rising incidence of road accidents, as well as bone illnesses.
Bacterial and Fungal infections caused in the process will restrict the market growth.
A wide range of potential infectious problems is associated with extremity casts and splints, including infections that can be fatal or threaten one's life, like toxic shock syndrome and necrotizing fasciitis. Taking these diagnoses into account and taking off the cast or splint to closely examine the injured extremity could be the key to early detection and the best possible result of cast/splint problems.
COVID-19 Impact on Market
The COVID-19 pandemic created several obstacles, mainly in the financial world, because it severely impacted the world economy. Due to the outbreak's severe effects on orthopedic treatment and practice, the market for orthopedic splints also experienced a sharp decline. The drop in the incidence of bone fractures and the limited scope of technological advancements, in addition to significant difficulties in outpatient clinics, resident training, and all subspecialties of orthopedics, all contributed to the restricted market growth.
But, according to Life Science Intelligence U.S.A, the number of traumatic cases treated decreased by 7% in 2020, probably partly because fewer car accidents occurred due to less travel. As the economy returns to normal, the market is regaining strength. From 2022 on, this market is anticipated to increase at a typical rate of about 3%. On the other hand, it is expected that the market will develop over the coming years due to the increasing emphasis on decision-making processes for the treatment of acute pediatric injuries and the significant focus on the risk/benefit ratio for moving forward with sensitive fracture procedures.
Market Segment Analysis
The product type segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The different benefits of fiberglass splints over other types of splints are credited with the market expansion. They are simpler to use because they are lighter, more porous, and more durable. They are also a preferable option if an X-ray is required to monitor the healing of the wounded area. Additionally, it comes in a variety of colors, which makes it a popular choice among young people. According to Ohio State University, 16% of all musculoskeletal injuries in the U.S. yearly are fractured.
Around 6.3 million fractures occur annually in the United States, with more than 40% occurring at home (22.5% indoors and 19.1% outside). However, fracture rates in women rise beyond the age of 45. Fracture rates among people 65 and older are three times higher in women than in males. Every year, 3.5 million people seek treatment for fractures in emergency rooms, and as the number of fractures rises, so make the demand for fiberglass splints.
Market Geographical Share
North America holds the largest market share in the global orthopedic splints and casts market.
Around 6 million Americans see a broken bone each year, according to data updated for Arm Injury Statistics 2021 from Ohio State University. In addition, according to the source above, hip fractures become the most frequent among those aged 75 or older and represent 16% of all musculoskeletal injuries each year in the U.S. Additionally, as per the National Center for Health Statistics, over 5.2 million musculoskeletal system surgeries are performed every year in the U.S. A further 40 million people, including over 250,000 children, have arthritis. Over 21 million Americans have osteoarthritis, according to the CDC. Significant players also collaborate with specialized Application companies as they focus on 3D printing skills.
The United States is home to many small and medium-sized orthopedic firms, enticing foreign corporations to enter the nation's orthopedic casting and splint market. To repair and restore anatomic length, rotation, and angulation of a patient-specific injury, various medical practitioners utilize splints. Thus, among the other nations in the region, the United States, in particular, has the most considerable percentage. This is additionally anticipated to support market expansion in the region.
Market Competitive Landscape
The orthopedic splints and casts market is moderately competitive with local and global companies’ presence Prime Medical Inc, KineMedics, Ossur Corporate, The 3M Company, Dassiet, BSN Medical, Darco International, Inc, Lohmann and Rauscher, Orfit Industries NV, Zimmer Biomet and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in May 2021, Early on, Dassiet dispatches the first batch of its innovative tactical emergency splint to Ukraine. Dassiet is launching UNO, a new emergency splinting solution, in reaction to the horrific events in Ukraine, and is sending 180 units there right now as humanitarian relief. A cooperating NGO in Lviv, Ukraine will deliver the goods
Prime Medical Inc.
Overview: Prime Medical Inc. has made a name for itself as a dependable healthcare manufacturer since its founding in 2001. The company takes great satisfaction in upholding the requirements for CE marking, ISO 9001, and ISO 13485. Strict quality control inside the company enables it to surpass the benchmarks set by the global orthopedic community. Over the years, the company expanded its manufacturing facilities to include facilities for the knitting, chemical mixing, coating, and packaging steps in a fully integrated manufacturing process.
Product Portfolio:
Prime splint: Made in Korea, a padded ready-made water-curable resin-based splint, very strong 8-layer polyurethane resin-impregnated fabric, soft non-woven padding on both sides, use without gloves, excellent molding for curved-shaped End users and economic roll type product available with cut and reseal foil packaging.
The global Orthopedic Splints and Casts market report would provide access to approx.: 45+ market data tables, 40+ figures, and 200 (approximate) pages.
