Casting And Splinting Market
Casting and Splinting Market Forecasts to 2030 - Global Analysis By Product Type (Casting and Splinting), Application, End User and By Geography
According to Stratistics MRC, the Global Casting and Splinting Market is accounted for $2.8 billion in 2023 and is expected to reach $5.1 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Casting and splinting are orthopedic techniques used to immobilize and support injured bones and soft tissues. A cast is typically made from fiberglass or plaster and encases the injured area completely, providing rigid stabilization. Splints, made from materials like metal or fiberglass, offer more flexibility and are often used for temporary support or minor fractures. Both methods aim to promote healing, reduce pain, and prevent further injury by restricting movement. Proper application by trained professionals is crucial to ensure effectiveness and minimize complications. Follow-up care, including monitoring for swelling and discomfort, is essential for successful rehabilitation.
According to the World Health Organization, India accounts for 11% of the global road accident deaths, and road traffic injuries are the eighth leading cause of death in India.
Market Dynamics:
Driver:
Rising incidence of bone fractures and joint injuries
As the number of injuries rise, there's a growing need for more advanced and specialized casting and splinting materials. This spurs innovation in the market, leading to the development of new products like lighter and more comfortable materials for improved patient experience, water-resistant casts for better hygiene and functionality during healing, Adjustable splints that allow for controlled movement and rehabilitation. Thus With a wider range of injuries, there's a demand for catering to specific needs. This can lead to the development of specialized splints for wrists, ankles, or even for complex fractures requiring specific immobilization techniques.
Restraint:
High cost
Due to the high costs, there might be a greater emphasis on finding cost-effective alternatives to casting and splinting whenever possible. This could lead to increased use of braces or physical therapy techniques that might not require splinting, potentially reducing the overall market size for casting and splinting products. This could result in safety concerns or hinder the development of innovative new splinting materials.
Opportunity:
Growing geriatric population
As people age, they become more susceptible to osteoporosis, a condition that weakens bones and makes them more prone to fractures even from minor falls. This significantly increases the need for casting and splinting to immobilize and support fractures during healing. Age-related decline in balance and coordination can lead to more frequent falls and injuries, especially among the elderly. These falls can cause bone fractures in the hips, wrists, and ankles, all requiring casting or splinting for proper healing.
Threat:
Risk of complications
Complications like infections or improper healing that necessitate additional treatment can significantly increase healthcare costs. This puts a strain on healthcare budgets and can lead to stricter regulations or limitations on the use of casting and splinting in certain situations. This can increase malpractice insurance costs and make healthcare providers more cautious in using casting and splinting, potentially limiting its application.
Covid-19 Impact
The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses. Industry closures and people are asked to stay in their homes which have cause taken a huge toll in terms of money and economic growth. Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers. Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to casting and splinting has been reduced and this segment have to face negligence subsequently causing negative impact on casting and splinting market.
The splinting segment is expected to be the largest during the forecast period
The splinting segment is estimated to have a lucrative growth, as splints offer more versatility compared to rigid casts. They can be adjusted to accommodate swelling or allow for controlled movement during healing, making them suitable for a wider range of musculoskeletal injuries. This expands the market reach by catering to injuries beyond those requiring complete immobilization with a cast.
The musculoskeletal injuries segment is expected to have the highest CAGR during the forecast period
The musculoskeletal injuries segment is anticipated to witness the highest CAGR growth during the forecast period, musculoskeletal injuries, including bone fractures, sprains, strains, and dislocations, are a major reason why casting and splinting are needed. A higher incidence of these injuries directly translates to a greater need for immobilization and support, which is what casts and splints provide. This increased demand fuels sales and revenue for manufacturers and suppliers in the casting and splinting market.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to factors like rise in the global prevalence of geriatric populace, rising cases of emergencies and road accidents, growth in adventures and sports activities leading to severe musculoskeletal injuries and higher adoption of technology in the region is propelling the market in the Asia-Pacific segment. Additionally presence of densely populated states including India, Japan, China, and Korea having large number of cases of road accidents as well as orthopedic injuries that will result in boosting the demand for casting and splinting equipment market
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the high number of manufacturing facilities, availability of cheap labor helps to keep the manufacturing costs for these equipment low, which will help in providing affordable equipment in bulk quantities to meet the industry requirement. High strain to get better health outputs at lower costs and dense population base are the other factors fuelling the market in the near future.
Key players in the market
Some of the key players in the Casting and Splinting Market include 3M Company, Alimed, Inc., Ascent Meditech Limited, B. Braun Melsungen AG, Bird & Cronin, Inc., BSN medical GmbH, Corflex, Inc., DeRoyal Industries, Inc., DJO Global, Inc., Medtronic plc, Orfit Industries NV, Össur hf., Ottobock SE & Co. KGaA, Patterson Medical Holdings, Inc., Prime Medical, Inc., Remington Products, Smith & Nephew plc, Spencer Italia S.r.l., Stryker Corporation and Zimmer Biomet Holdings, Inc.
Key Developments:
In April 2024, Smith+Nephew announces new evidence supporting ALLEVYN? LIFE Foam Dressing’s role in pressure injury prevention. This novel mechanism of action further adds to our understanding of how multi-layer dressings such as ALLEVYN LIFE work when used prophylactically for PIP.1
In April 2024, 3M launches new Verify app to help tackle counterfeit personal protective equipment. Depending on the type of product, using a counterfeit product could put a person's safety at risk.
In March 2024, 3M introduces a world's first innovation to help redefine shipping and packaging. This new material called 3M™ Padded Automatable Curbside Recyclable (PACR) Mailer Material is capable of producing packages up to three times faster than manual packing
Product Types Covered:
• Casting
• Splinting
Applications Covered:
• Fracture Management
• Musculoskeletal Injuries
End Users Covered:
• Hospitals
• Clinics
• Home Healthcare
• Ambulatory Surgical Centers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Casting and Splinting Market, By Product Type
5.1 Introduction
5.2 Casting
5.2.1 Fiberglass Casts
5.2.2 Plaster Casts
5.2.3 Polyurethane Casts
5.2.4 Other Casting Products
5.3 Splinting
5.3.1 Fiberglass Splints
5.3.2 Plaster Splints
5.3.3 Other Splinting Products
6 Global Casting and Splinting Market, By Application
6.1 Introduction
6.2 Fracture Management
6.2.1 Upper Extremities
6.2.2 Lower Extremities
6.3 Musculoskeletal Injuries
6.3.1 Carpal Tunnel Syndrome
6.3.2 Sprains
6.3.3 Tendinopathy
6.3.4 Other Musculoskeletal Injuries
7 Global Casting and Splinting Market, By End User
7.1 Introduction
7.2 Hospitals
7.3 Clinics
7.4 Home Healthcare
7.5 Ambulatory Surgical Centers
8 Global Casting and Splinting Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 3M Company
10.2 Alimed, Inc.
10.3 Ascent Meditech Limited
10.4 B. Braun Melsungen AG
10.5 Bird & Cronin, Inc.
10.6 BSN medical GmbH
10.7 Corflex, Inc.
10.8 DeRoyal Industries, Inc.
10.9 DJO Global, Inc.
10.10 Medtronic plc
10.11 Orfit Industries NV
10.12 Össur hf.
10.13 Ottobock SE & Co. KGaA
10.14 Patterson Medical Holdings, Inc.
10.15 Prime Medical, Inc.
10.16 Remington Products
10.17 Smith & Nephew plc
10.18 Spencer Italia S.r.l.
10.19 Stryker Corporation
10.20 Zimmer Biomet Holdings, Inc.
List of Tables
1 Global Casting and Splinting Market Outlook, By Region (2021-2030) ($MN)
2 Global Casting and Splinting Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Casting and Splinting Market Outlook, By Casting (2021-2030) ($MN)
4 Global Casting and Splinting Market Outlook, By Fiberglass Casts (2021-2030) ($MN)
5 Global Casting and Splinting Market Outlook, By Plaster Casts (2021-2030) ($MN)
6 Global Casting and Splinting Market Outlook, By Polyurethane Casts (2021-2030) ($MN)
7 Global Casting and Splinting Market Outlook, By Other Casting Products (2021-2030) ($MN)
8 Global Casting and Splinting Market Outlook, By Splinting (2021-2030) ($MN)
9 Global Casting and Splinting Market Outlook, By Fiberglass Splints (2021-2030) ($MN)
10 Global Casting and Splinting Market Outlook, By Plaster Splints (2021-2030) ($MN)
11 Global Casting and Splinting Market Outlook, By Other Splinting Products (2021-2030) ($MN)
12 Global Casting and Splinting Market Outlook, By Application (2021-2030) ($MN)
13 Global Casting and Splinting Market Outlook, By Fracture Management (2021-2030) ($MN)
14 Global Casting and Splinting Market Outlook, By Upper Extremities (2021-2030) ($MN)
15 Global Casting and Splinting Market Outlook, By Lower Extremities (2021-2030) ($MN)
16 Global Casting and Splinting Market Outlook, By Musculoskeletal Injuries (2021-2030) ($MN)
17 Global Casting and Splinting Market Outlook, By Carpal Tunnel Syndrome (2021-2030) ($MN)
18 Global Casting and Splinting Market Outlook, By Sprains (2021-2030) ($MN)
19 Global Casting and Splinting Market Outlook, By Tendinopathy (2021-2030) ($MN)
20 Global Casting and Splinting Market Outlook, By Other Musculoskeletal Injuries (2021-2030) ($MN)
21 Global Casting and Splinting Market Outlook, By End User (2021-2030) ($MN)
22 Global Casting and Splinting Market Outlook, By Hospitals (2021-2030) ($MN)
23 Global Casting and Splinting Market Outlook, By Clinics (2021-2030) ($MN)
24 Global Casting and Splinting Market Outlook, By Home Healthcare (2021-2030) ($MN)
25 Global Casting and Splinting Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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