Orthopedic Splints Market

• The Global Orthopedic Splints Market has experienced substantial growth in recent years. According to research analysis, it is expected to continue growing at a Compound Annual Growth Rate (CAGR) of around XX% from 2024 to 2030.
• The leading Orthopedic Splints Companies such as Essity, 3M, Ottobock, DeRoyal Industries Inc., Medi GmbH & Co. KG, Zimmer Biomet, Stryker, Orthosys, United Medicare, Sam Medical, United Orthopedic Corporation, SA Össur, and Others.

Request for unlocking the CAGR of the "Orthopedic Splints Market"

The Orthopedic Splints Market By Product Type (Fiberglass Splints, Plaster Splints, And Splinting Tools & Accessories), Application (Lower Extremity And Upper Extremity), End-User (Hospitals, Orthopedic Clinics, And End-Users), and geography is expected to grow at a steady CAGR forecast till 2030 owing to increasing number of musculoskeletal disorders and increasing geriatric population

The Global Orthopedic Splints Market is estimated to grow at a CAGR of 10.57% during the forecast period from 2024 to 2030. The demand for orthopedic splints is primarily being boosted by factors such as the increasing number of people with musculoskeletal disorders coupled with a rise in the geriatric population, a rise in road traffic accidents leading to bone fractures, and others are expected to fuel the market growth over the forecast period. Furthermore, the orthopedic splints market is anticipated to grow on account of a large number of ongoing research activities in this field, collaborations between healthcare providers, researchers, and industry players, and strategic partnerships among others are going to contribute to the overall growth of the orthopedic splints market during the forecast period from 2024-2030.

Orthopedic Splints Market Dynamics

According to the World Health Organization (WHO) 2022, musculoskeletal conditions are the leading contributor to disability, and worldwide around 1.71 billion people are suffering from musculoskeletal diseases such as osteoporosis, osteoarthritis, rheumatoid arthritis, and others. Osteoarthritis also known as degenerative or wear-and-tear arthritis affects the joints and with time leads to the wearing off of smooth cartilage from the surface of bones. This causes patients to face inflammation, swelling, and pain in joints affecting the overall movement of a person.

According to World Health Organization 2022, worldwide around 528 million people suffered from osteoarthritis in 2019. As per the same source, worldwide 18 million people had rheumatoid arthritis in 2019. Also, according to the above-mentioned source osteoarthritis contributed to 19 million years lived with disability (YLDs), while rheumatoid arthritis contributed to 2.4 million YLDs globally in 2019.

The rise in road traffic accidents is another major factor driving the growth of the orthopedic splints market. Light and fatal injuries owing to sudden road accidents lead to disability sometimes and increase the need for orthopedic implants, positively impacting the growth of the orthopedic implants market. According to WHO 2022, approximately 1.3 million people die each year because of road traffic accidents and around 20-50 million individuals suffer from non-fatal injuries or some sort of disability.

Therefore, the above-mentioned factors are expected to accelerate the growth of the orthopedic splints market. However, complications associated with orthopedic splints and negligence toward minor injuries may restrict the growth of the overall orthopedic splints market.

Orthopedic Splints Device Market Segment Analysis

Orthopedic Splints Market by Product Type (Fiberglass Splints, Plaster Splints, and Splinting Tools & Accessories), Application (Lower Extremity and Upper Extremity), End-User (Hospitals, Orthopedic Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). In the product type segment of the orthopedic splints market, the fiberglass splints, category is expected to amass a significant revenue share in the year 2023.

This can be ascribed to the various advantages and applications associated with fiberglass splints. Fiberglass splints are easy and comfortable to wear as they are lightweight. It enhances the patient's comfort and compliance with the splint by minimizing the burden on the affected area due to its reduced weight.

Apart from providing excellent strength and rigidity, fiberglass splints offer effective support and immobilization. Fiberglass splints last longer than plaster splints as they are resistant to water damage and wear. Also, in comparison to plaster splints, fiberglass splints are strong and more porous thereby allowing airflow and reducing the risk of itchy skin. They are also available in a variety of colors and patterns. Therefore, owing to the above-mentioned factors, there will increased demand for fiberglass splints, thereby driving the growth of the overall orthopedic splints market during the forecast period.

North America is expected to dominate the overall Orthopedic Splints Device Market:

Among all the regions, North America is estimated to account for the largest share of the Orthopedic Splints market in the year 2023. This can be due to factors including the prevalence of chronic bone diseases, the increasing old age population, and the presence of key companies involved in the production of orthopedic splints, high-tech medical facilities, and others. As per the Centers for Disease Control and Prevention (CDC) 2021, it has been estimated that there will be around 78.4 million people suffering from doctor-diagnosed arthritis by 2040, and out of that two-thirds will be the women population.

As per the same source, an estimated 34.6 million adults will face arthritis-attributable activity limitations in the US by 2040. As per Arthritis Foundation 2021, around 1.5 million people have rheumatoid arthritis in the United States. The increasing age makes one susceptible to several health issues including bone diseases, and others and thus is another driver for the growth of the orthopedic splints market. According to CDC 2022, around 54.1 million US adults were aged 65 or older in 2019. As per the same source, it has been estimated that by 2060, this number will reach up to 94.7 million in the US.

Along with the presence of a large patient pool in the country, the increasing focus of manufacturers on launching new products in the market is expected to bolster the growth of the orthopedic splints market in the United States during the forecast period. Thus, the above-mentioned factors are likely to propel the growth of the orthopedic splints market in the region during the forecast period from 2024-2030.

Orthopedic Splints Companies

The leading Orthopedic Splints Companies such as Essity, 3M, Ottobock, DeRoyal Industries Inc., Medi GmbH & Co. KG, Zimmer Biomet, Stryker, Orthosys, United Medicare, Sam Medical, United Orthopedic Corporation, SA Össur, and Others.

Recent Developmental Activities in the Orthopedic Splints Device Market:

• In January 2022, Dassiet launched UCAST, a product line targeted toward hospitals and health centers, making fracture treatment faster and safer both for the patient and nursing staff.
• In December 2021, Hygiene and health company Essity acquired the orthopedic specialist company AquaCast Liner, a provider of waterproof cast liners on the US market.

Key Takeaways from the Orthopedic Splints Device Market Report Study

• Market size analysis for current Orthopedic Splints market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global orthopedic splints market.
• Various opportunities available for the other competitors in the orthopedic splints market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current orthopedic splints market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for orthopedic splints market growth in the coming future?

Target Audience who can be benefited from this Orthopedic Splints Market Report Study

• Orthopedic Splints product providers
• Research organizations and consulting companies
• Orthopedic Splints-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in orthopedic splints
• Various End-users who want to know more about the orthopedic splints market and the latest developments in the orthopedic splints market.

Access Exclusive Data Now! Click here to Read More about the Related Articles:- Latest DelveInsight Blogs