Orthopedic Splints and Casts Market Key Players, Raw Materials Suppliers and Top Players DJO Global,Zimmer Biomet Holdings,Ossur Americas,Prime Medical,DeRoyal Industries, Alimed

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. Growing prevalence of musculoskeletal diseases such as arthritis and osteoporosis, which are associated with growing geriatric population, is expected to drive growth of the orthopedic splints and casts market.

According to International Osteoporosis Foundation statistics, 2017, an estimated 8.9 million fractures are caused annually by osteoporosis, resulting in an osteoporotic fracture every 3 seconds, with around 1.6 million hip fractures occurring globally each year, the number of which is expected to reach 4.5 million by 2050. Also, according to the World Health Organization (WHO), 2013, around 28.2% of the global population aged 60 years and above, suffered from osteoarthritis with an estimated 80% people recorded with mobility handicaps. Furthermore, WHO also states that increasing life expectancy and growing geriatric population is expected to increase the prevalence of osteoarthritis and is expected to be the fourth most common cause of disability by 2020.

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However, the formation of pressure sores, compartment syndrome, and thermal injuries during casting or splinting process and development of bacterial and fungal infections occurring beneath the casts and splints are factors restraining the market growth.

Asia Pacific is expected to hold a dominant position in the global orthopedic splints and casts market over the forecast period, owing to rising medical tourism in India, Singapore, and Thailand, thereby increasing the influx of foreign patients for affordable treatment of post-surgical management for speedy recovery. 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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This release was published on openPR.