Casting and Splinting Market by Type (Splinting Supplies and Equipment, Casting Supplies and Equipment), Material Type (Fiberglass, Polyester, Plaster of Paris, Polyethylene, Others), End-User (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres, Rehabilitation Centres, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, June 25, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global casting and splinting 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.
Demand for casting and splinting has increased mainly over the past few years, driven by recurrent orthopedic, athletic and musculoskeletal injuries. Older people are more prone to wounds. Thus, the observed development in the elderly population, all-inclusive, will generally feed the market prospects accordingly as innovation develops, manufacturers hope to use propellants to assemble casts and splints. Accordingly, this is expected to boost 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, plaster or surgical molding are often made of fiberglass/plaster and surround a limb to stabilize and support the structural anatomy until the wound has healed. Splinting devices are deployed to several locations to provide support to the spine/extremities, including temporary support for broken bones/damaged joints during any activity. Casting is essential in the majority of fractures by providing more effective fixation. Splints offer several benefits over castings in terms of easier and quick application and allowing normal swelling at the period of the early inflammatory phase of the injury by avoiding pressure concerns.
Advances in casting and casting materials, such as the use of fiberglass tape and polyester tape, offer high patient compliance in terms of ease of removal with a cast saw blade, smooth lamination, improved X-ray transparency, and availability in attractive colors and patterns is expected to significantly boost the casting and splinting market. Moreover, it could hinder the growth of the casting and splinting market to some extent.
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Key players operating in the global casting and splinting market include 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.
Casting Supplies And Equipment Microspheres segment dominated the market and held the largest market share of 54% in the year 2020
On the basis of type, the global casting and splinting market is segmented into splinting supplies and equipment and casting supplies and equipment. The casting supplies and equipment segment dominated the market and held the largest market share of 54% in the year 2020. This growth has been attributed to technological advances that include the incorporation of ergonomically designed and vacuum-based 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 largest revenue share of 57% in the year 2020
On the basis of material type, the global casting and splinting 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 the year 2020. This growth is attributed to the growing occurrence of musculoskeletal injuries.
Hospital segment dominated the market and held the largest market share of 36.3% in the year 2020
On the basis of end-user, the global casting and splinting market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, rehabilitation centers and others. The hospital segment dominated the market and held the largest market share of 36.3% in the year 2020. This growth is attributed to the increasing levels of traffic crashes, and the other body injuries. The availability of trained practitioners in hospital environments to conduct many different procedures and opioid administration will improve the overall growth of the business.
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Regional Segment of Casting and Splinting Market
On the basis of geography, the global casting and splinting market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific region held the largest market share of 46% in the year 2020 owing to factors like rising in the global prevalence of geriatric populace, increasing cases of emergencies and road accidents, growth in adventures and sports activities leading to severe musculoskeletal injuries, and higher adoption of technology in the region is propelling the market. North America is also expected to show rapid growth in the forecast period.
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About the report:
The global casting and splinting market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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