Orthopedic Splints Market Analysis

Orthopedic Splints Market Analysis

To get key market trends

  Download Free Sample

Based on product, the orthopedic splints market is segmented as fiberglass splints, plaster splints, tools & accessories and others. The fiberglass splints segment accounting over 36% share in 2022. This high market share is owing to several benefits offered by fiberglass splints in several orthopedic applications. Fiberglass splints are lightweight, making them more comfortable for patients to wear. The reduced weight minimizes the burden on the affected area, enhancing patient comfort and compliance with wearing the splint. Fiberglass splints provide excellent strength and rigidity, offering effective support & immobilization.

Based on application, the orthopedic splints market is segmented as upper extremity and lower extremity. The lower extremity accounted for around USD 1.5 billion in 2022. Orthopedic splints for the lower extremity, including the legs, ankles, and feet, offer several benefits in the management of various conditions and injuries. For instance, according to an article published by the Lancet Journal, in 2020, the incidence of fractures of the foot bone was around 10 million globally. Lower extremity splints provide support and stability to the legs, ankles, and feet, which is crucial in managing conditions such as fractures, sprains, strains, ligament injuries, and post-surgical recovery. They help immobilize the affected area, reducing pain and preventing further damage.

Based on end-use, the orthopedic splints market is segmented as hospitals, specialty centers, and others. The hospitals segment is expected to grow at 8.2% CAGR by 2032. This dominant market share can be attributable to increasing demand for orthopedic devices owing to rising inpatient admission for the diagnosis and treatment of several orthopedic ailments. Hospitals are witnessing a rise in the number of patients presenting with orthopedic injuries, such as fractures, sprains, and strains.

Factors like sports-related injuries, accidents, and an aging population contribute to the increased demand for orthopedic splints in hospitals. Orthopedic surgeries, including joint replacements, ligament repairs, and fracture fixations, often require the use of orthopedic splints during the immediate post-operative phase. Hospitals need an adequate supply of splints to facilitate patient recovery and ensure proper healing after surgical interventions.

North America orthopedic splints market was valued at USD 878.2 million in 2022. This high market share may be ascribed to a variety of factors, including the presence of significant industry players, an increase in the number of patients suffering from orthopedic disorders, an expanding elderly population, among others. Increasing prevalence of osteoarthritis among adult population is anticipated to increase the product demand across the region. For instance, according to the CDC data, in 2021, around 32.5 million U.S. adults were suffering from osteoarthritis accounting over 22% above the age of 40 years.

Strong healthcare infrastructure and access to advanced orthopedic care will boost the industry expansion in North America. Technological advancements, including the development of innovative and more comfortable splinting materials and designs, have contributed to increased adoption and demand for orthopedic splints. North America has well-established healthcare systems and favorable reimbursement policies. Insurance coverage and reimbursement for orthopedic splints make them more accessible and affordable for patients, thereby driving the demand. Aging population, increased awareness of preventive healthcare, and advancements in orthopedic splints is anticipated to drive the market growth.