Casting and Splinting Products Market Forecast to 2026 with Key Companies Profile, Supply, Demand, Cost Structure and Growth Factors

Casts and splints are designed to protect and support injured or fractured joints and bones. They help to immobilize broken bones or dislocated joints in place, until fully healed. A cast is the treatment of choice in fractures where a minimal amount of swelling is expected, including fractures that are non-displaced as well as complicated conditions such as Paige’s, wherein a cast is placed after subsided swelling due to initial placement of a splint. Thus, the casting segment held a lucrative market share in 2016. Additionally, development of different types of materials for better treatment adherence and outcome is expected to augment growth of the casting and splinting products market. In April 2017, Svenska Cellulosa Aktiebolaget (SCA) completed the acquisition of BSN Medical, a leading medical solution company with well-known brands such as Leukoplast, Cutimed, JOBST, Delta Cast, Delta Lite, and Actimove. These provide SCA a platform for growth with future industry consolidation opportunities.

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Increasing incidence of road accidents and musculoskeletal injuries to propel overall growth of the market:

The casting and splinting market is expected to experience rapid growth over the forecast period, owing to rising number of sports and vehicular accidents and other injuries, which in turn, is resulting in increasing number of musculoskeletal problems among the populace. Also, rampant growth of the geriatric population is expected to fuel demand for casting and splinting, as this population is more prone to orthopedic problems. As per the United Nations data, in 2015, around 901 million people were over 60 years of age and this number is expected to reach 1.4 billion by 2030 and to 2.1 billion by 2050. Advancements in technology has influenced vendors to focus on using advanced materials such as fiberglass tape and polyester tape for manufacturing casts and splints. These provide high patient compliance in terms of wearing comfort and lasting support, improved X-ray radiolucency, and also helps to avoid or minimize muscle atrophy and other immobilization-related issues. Availability of casts and splints in a wide range of attractive colors and unique paw pattern is also be expected to boost sales of casting and splinting products worldwide. Growth of the market, however, is expected to be restrained by the high costs of equipment and high risks of pressure sores or compartment syndrome.

On the basis of region, the casting and splinting market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. Asia Pacific accounted for the largest market share in 2016 due to high incidence of orthopedic injuries and road accidents in the region, which in turn, lead to high demand for casting and splinting products. Moreover, costs associated with manufacturing of casting and splinting products in this region is comparatively lower than that of other regions, in turn positioning the region as a major manufacturing hub. In 2013, according to WHO, the East Asia-Pacific region recorded over 153,000 fatalities from road accidents. This indicates an increasing demand for casting and splinting products, in turn, boosting growth of the market in the region.

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North America continues to hold the second-largest market share in the casting and splinting products market during the forecast period, owing to increasing number of musculoskeletal injuries and fractures in this region. In 2014, according to an article published by EWI Works, 34% of all lost time claims were associated with sprain, strain, and tears of musculoskeletal tissue in the U.S.

Market is highly consolidated with major players actively pursuing aggressive expansive strategies:

The casting and splinting products market is highly fragmented and region-specific. 3M Healthcare, Svenska Cellulosa Aktiebolaget (SCA), Stryker Corporation, and Prime Medicals are among the major players in the market. Strategies adopted by these companies to increase market share include flexible product offering to meet the increasing demand of the large population base and engage in educational programmes. 3M products are supported by an extensive range of educational programmes provided by a team of technical sales specialists and a British Orthopedic Association (BOA) qualified technician. Other players in this market include AliMed, Corflex Inc., DeRoyal Industries, Patterson Medical Holdings Inc., Zimmer Inc., and Bird & Cronin Inc.

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