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Casting And Splinting Market Size
Casting And Splinting Market size is projected to depict substantial growth from 2024 to 2032, driven by the high incidence rate of musculoskeletal injuries across the world, with road traffic accidents being the leading cause. WHO estimates that nearly 20-50 million people sustain non-fatal injuries from road traffic crashes on an annual basis. With the projected rise in private vehicle ownership over the coming years, instances of road accidents are likely to go up in tandem, especially in emerging economies, creating more opportunities for the industry gains.
The demand for casting and splinting is also expected to witness a high impetus from the rising incidences of workplace injuries in sectors, such as construction and manufacturing, where physical labor is common. According to the International Labour Organization, around 340 million workplace accidents are reported annually across the globe, with many involving the use of casting, splinting products as a treatment. However, the high costs associated with casting and splinting procedures, limited reimbursement policies, and risks of complications and infections may restrain the product uptake to some extent.
Casting And Splinting Market Trends
The growing preference for lightweight and breathable materials in casting and splinting products is improving patient comfort and compliance. The rise in innovative developments like 3D printing and computer-aided design are enabling customization as well as precision in casting and splinting procedures. Increasing adoption of fiberglass materials due to their superior strength and water resistance properties is driving the adoption of casts and splints. The rising focus on eco-friendly and biodegradable materials in response to sustainability concerns is also reflecting the shift towards more environmentally conscious practices in the industry.
Casting And Splinting Market Analysis
With respect to product, the market value from casting segment is slated to register strong gains until 2032, due to the global rise in orthopedic injuries. According to Netherlands-based pharmaceutical firm Osteo-Pharma, on average every person experiences at least one broken bone in lifetime. The probability of such injuries is more elevated among the elderly population as people aged 60 years and above have higher chances of developing osteoporosis. The surge in novel innovations with respect to ease of cast application and removal will also boost the segment progression.
Based on material, the casting and splinting market from fiberglass segment is anticipated to account for a substantial share of the casting and splinting industry by 2032, owing to growing popularity in recent years. Fiberglass is lightweight and comes in a range of colors, and is also more porous, which minimizes the risk of having itchy skin. It can also be worn for a longer duration, making it ideal for injuries that take longer to heal. Another advantage of the material is its strength in protecting the covered area against any bump or impact. Fiberglass casts can also be applied much quicker and can also be made waterproof.
North America casting and splinting market size is anticipated to witness notable growth from 2024 to 2032, on account of the rising number of traffic accidents. Increasing prominence of osteoporosis among the geriatric population is fueling the demand for casts and splints in the region. According to the University of Connecticut, an estimated 10 million people aged 50 years and older are currently suffering from osteoporosis in the U.S. Moreover, higher prevalence of contact sports, such as football and basketball is also escalating the industry expansion across the region.
Casting And Splinting Market Share
Some of the major casting and splinting industry players are:
- 3M Healthcare
- BSN Medical GmbH (Essity)
- Corflex Inc.
- Zimmer Inc.
- Patterson Medical Holdings Inc.
- DeRoyal Industries
- AliMed
- Stryker Corporation
- Bird & Cronin Inc. (Dynatronics Corporation)
- Prime Medical Inc.
Leading companies operating in the casting and splinting industry are engaged in various business expansion strategies, including mergers, acquisitions, partnerships, and product launches to increase their market presence.
- Casting And Splinting Industry News:
- In November 2021, OrthoPets, a provider of orthotic and prosthetic treatment options for pets, introduced a safe and effective casting solution for veterinarians, covering a wide range of treatments, from full leg casts to paw or toe injuries.