Newark, NJ, June 25, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global cast and splint market is expected to grow from USD 2.67 billion in 2020 to USD 4.42 billion by 2028, at a CAGR of 6.5% during the forecast period 2021-2028.
The demand for casts and splints has increased mainly in recent years, driven by recurrent orthopedic, sports and musculoskeletal injuries. Older people are more prone to injury. So, the observed evolution of the elderly population, all inclusive, will generally fuel the market outlook accordingly as innovation develops, manufacturers hope to use propellants to assemble casts and splints. As a result, it is expected to drive the market growth.
Casts and splints stabilize bone wounds and stimulate healing by supporting bone alignment, securing the damaged area, reducing pain, and helping to compensate for muscle weakness in the surrounding area. Casting devices that involve orthopedic surgery, a cast or surgical cast are often made of fiberglass / plaster and surround a limb to stabilize and support structural anatomy until the wound heals. Splints are deployed in multiple locations to provide spine / extremity support including temporary support for broken bones / joints damaged during any activity. Casting is essential in the majority of fractures by providing more effective fixation. Splints offer several advantages over casts in terms of easier and faster application and allow normal swelling during the early inflammatory phase of the injury by avoiding pressure problems.
Advances in molding and molding materials, such as the use of fiberglass tape and polyester tape, provide high patient compliance in terms of ease of removal with a molded saw blade, smooth lamination , improved x-ray transparency and availability in attractive colors and patterns is expected to significantly boost the casting and splint market. Moreover, it might hamper the growth of the Cast Iron and Splint market to some extent.
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The major players operating in the global casting and splint market are Svenska Cellulosa Aktiebolaget (SCA), 3M Healthcare, Corflex Inc., Prime Medical Inc., Patterson Medical Holdings Inc., Bird & Cronin Inc., DeRoyal Industries, BSN Medical GmbH, AliMed, Stryker Corporation and Zimmer Biomet.
- For example, in October 2019, Stryker acquired Mobius Imaging LLC, a pioneer in point-of-service imaging technologies, and its sister organization, GYS Software LLC. The transaction puts Stryker in a position to improve healthcare by offering more robust surgical options such as pricing, operation and assistance.
- In December 2018, the Jacksonville Orthopedic Institute announced a partnership with ActivArmorT, to help their patients discover the new way to heal sprains and fractures that they collaboratively offer.
Molding supplies and equipment microspheres segment dominated the market and held the largest market share of 54% in 2020
On the basis of type, the global casting and splint market is segmented into splint supplies and equipment and casting supplies and equipment. The molding supplies and equipment segment dominated the market and held the largest market share of 54% in 2020. This growth has been attributed to technological advancements which include the incorporation of ergonomic and vacuum incisors for easy removal. of the splint without causing further injury and blades that can be adjusted according to the size of the splint.
Plaster of Paris segment dominated the market and held the highest revenue share of 57% in 2020
On the basis of material type, the global casting and splint market is segmented into fiberglass, polyester, plaster of paris, polyethylene, and others. The Plaster of Paris segment dominated the market and held the largest market share, 57% in 2020. This growth is attributed to the increasing occurrence of musculoskeletal injuries.
Hospitals segment dominated the market and held the largest market share of 36.3% in 2020
On the basis of end user, the global casting and splint market is segmented into hospitals, orthopedic clinics, outpatient surgery centers, rehabilitation centers, and others. The hospital segment dominated the market and held the largest market share of 36.3% in 2020. This growth is attributed to increasing levels of traffic accidents and other bodily injuries. The availability of trained practitioners in hospital environments to perform many different procedures and administration of opioids will enhance the overall growth of the business.
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Regional segment of the cast iron and splint market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global cast iron and splint market is classified into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The Asia-Pacific region held the largest market share of 46% in 2020 due to factors such as increasing global prevalence of geriatric population, increasing cases of emergencies and road accidents , the growth of adventures and sports activities resulting in serious musculoskeletal injuries, and more technology adoption in the region is propelling the market. North America is also expected to show rapid growth during the forecast period.
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About the report:
Global Cast Iron and Splint Market is analyzed on the basis of value (USD Billion). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the position grid of the competitors.
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