Orthopedic Splints and Casts Market Global Strategic Business Report Covering Essity Aktiebolag - BSN Medical, DJO Global,Zimmer Biomet Holdings, Ossur Americas

Orthopedic splints and casts are orthopedic devices used to protect and support fractured bones and joints. Casts and splints are made from fiberglass or plaster, and can be easily molded to the shape of injured arms or legs. The casts are designed to provide functional support to fractures and soft tissue injuries, allowing enhanced flexibility and mobility with semi-rigid form, thus reducing immobilization-related problems such as atrophy or joint stiffness, thus shortening the healing process. Splints, also known as half-casts, are easier and majorly used to heal and support a variety of acute orthopedic conditions such as sprains. Splints are convenient to use, as they can be easily tightened or loosened as per the injured leg or arm. Readymade splints are available in various shapes and sizes, thereby allowing easier and faster use in the medical settings.

The global orthopedic splints and casts market size was valued at US$ 2,160.6 million in 2017, and is expected to exhibit a robust CAGR of 6.1% over the forecast period (2018 – 2026). The global orthopedic splints and casts market is expected to be driven by increasing incidence of age-related osteoporotic fractures, musculoskeletal conditions, and trauma caused due to road accidents and falls.

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According to survey by Pacific Prime, 2015, among 10 million patients traveling per year for medical treatment, over 90% visited countries such as Singapore, Thailand, and India, thus augmenting the orthopedic splints and casts market growth. Furthermore, according to the study by Brink Asia Pacific Risk Center, 2017, around 4 million medical tourists traveled to India to seek health care services, 3.5 million foreign patients travelled to Thailand, and 900,000 patients to Singapore in 2016. This number is expected to grow by 10-14% annually by 2020. Moreover, according to the Government of India, Ministry of Road Transport & Highways Transport Research Wing, 2016, road accidents is the major cause of injuries, disabilities, and death in India, accounting for 1,317 accidents per day with an average of 494,624 injured people in 2016. Thus, growing number of road accidents in India and China is expected to increase demand for orthopedic casts and splints, thereby increasing the market growth.

North America is expected to gain significant traction over the forecast period, owing to higher rate of sports injuries in the U.S. According to the American Academics of Pediatrics, 775,000 children aged 14 years and younger are admitted in hospital emergency rooms for sports-related injuries each year. Moreover, according to the National Institute of Health, 2012, knee injuries are common among adolescent athletes, with an estimated 2.5 million sports-related injuries registered annually in emergency departments in the U.S. This number is expected to increase over forecasted period, thereby propelling the orthopedic splints and casts market growth in the region.

Major players operating in the global orthopedic splints and casts market include 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.

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