Orthopedic Splints Market Size - By Product (Fiberglass Splints, Plaster Splints, Tools & Accessories), By Application (Upper Extremity, Lower Extremity), By End-use, & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationOrthopedic Splints Market Size - By Product (Fiberglass Splints, Plaster Splints, Tools & Accessories), By Application (Upper Extremity, Lower Extremity), By End-use, & Forecast, 2023 – 2032
Orthopedic Splints Market Size
Orthopedic Splints Market size was valued at over USD 2.3 billion in 2022 and is projected to reach around USD 5.2 billion by 2032 owing to increasing prevalence of orthopedic ailments coupled with rising demand for minimally invasive surgical procedures.
Technological advancements in orthopedic splints with advance rehabilitative technology and use of efficient materials to provide support. Orthopedic injuries, including fractures and sprains, are prevalent across all age groups. The increasing participation in sports and recreational activities, as well as road accidents, contribute to the demand for orthopedic splints. Rising incidence of trauma and injuries among ageing population increases the demand for orthopedic splints for faster recovery and better clinical results.
Orthopedic splints are medical devices intended to support, stabilize, and immobilize injured or fractured bones and joints in the musculoskeletal system. These splints are used in the to provide temporary or long-term support during the healing process of fractures, sprains, strains, and other orthopedic injuries affecting bones, joints, and soft tissues.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Orthopedic Splints Market Size in 2022 | USD 2.3 billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 8.3% |
| 2032 Value Projection | USD 5.2 billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 519 |
| Segments covered | Product, Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Alternative treatment options, such as braces, casts, or surgical interventions, provide viable alternatives to orthopedic splints depending on the nature and severity of the injury. Surgical interventions may be considered as a more definitive treatment option for certain orthopedic conditions. Surgeries can provide a permanent solution to the injury or condition, eliminating the need for prolonged use of orthopedic splints. This preference for surgical interventions can limit the demand for splints.
COVID-19 Impact
The recent outbreak of COVID-19 had negatively influenced the orthopedic splints market revenue, specifically during the initial phase of 2020. The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during the pandemic phase. Several hospitals and healthcare facilities globally experienced a significant decline in patient visits for diagnosis and treatment of orthopedic disorders, other related chronic conditions and rehabilitation procedures. As, these operations require close contact with the patients that may increase the risk of infection to practitioners and other patients.
Orthopedic Splints Market Trends
Orthopedic diseases encompass a wide range of conditions affecting the musculoskeletal system, such as fractures, sprains, strains, osteoarthritis, rheumatoid arthritis, and osteoporosis. For instance, according to the WHO data, in 2020, over 18 million people globally were suffering from rheumatoid arthritis and is anticipated to increase in the future. Orthopedic splints help alleviate pain and aid in joint stabilization among patients suffering from rheumatoid arthritis and other orthopedic ailments. Sedentary lifestyles, coupled with the rising prevalence of obesity, contribute to the development of orthopedic diseases.
Hey there! Tech's given orthopedic splints a serious upgrade. They're made of this awesome stuff that's both light and sturdy. Plus, they're adjustable and super comfy to wear, thanks to their fancy ergonomic design. All this means that patients are a lot happier and getting better results from their treatments. More people are getting hip to orthopedic issues and how they can mess with their groove. So, more folks are reaching out for help, which leads to speedier and spot-on diagnoses. And with those early diagnoses, there's a bigger need for orthopedic splints as part of the treatment. As we grow older and more of us get stuck on our butts or hit the gym, orthopedic problems are getting more common. This makes orthopedic splints a hot commodity, giving manufacturers a bright future.
Orthopedic Splints Market Analysis
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.
There are two main types of splintsthose for your arms (upper extremity) and those for your legs (lower extremity). In 2022, splints for the lower half of your body brought in about $1.5 billion. These splints are super useful for helping with different problems and injuries in your legs, ankles, and feet. For example, in 2020 alone, over 10 million people around the world broke a bone in their foot. Lower extremity splints can help support and stabilize your legs, ankles, and feet, which is important for dealing with things like broken bones, sprains, strains, ligament injuries, and even after surgery. They help keep the injured area from moving around too much, which can reduce pain and stop the injury from getting worse.
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.
Orthopedic Splints Market Share
Some of the major players operating in the orthopedic splints market are
- 3M
- Becton
- Dickinson and Company
- Breg, Inc.
- DeRoyal Industries, Inc.
- DJO Global
- Dynatronics Corporation
- Essity AB
- Medi GmbH & Co. KG
- Orthosys
- Össur
- Ottobock
- Sam Medical
- Stryker Corporation
- United Medicare
- Zimmer Biomet
Orthopedic Splints Market Leaders
- In November 2020, Stryker announced the acquisition of Wright Medical Group N.V., a manufacturer of medical devices and majorly focused on extremities and biologics. This acquisition helped the company to strengthen their position in trauma and extremities thereby providing significant opportunities to advance innovation. This strategic move helped the company to expand their product portfolio and increase their business revenue.
- In November 2018, Colfax Corporation (Enovis), announced the acquisition of DJO Global Inc. a manufacturer and supplier of medical devices and orthopedic solutions. This acquisition helped the company to enter into new orthopedic business segments including splints and braces. This strategic acquisition helped the company to expand their preventive healthcare product portfolio and increase their customer base.
Orthopedic splints market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (Units) from 2018 to 2032, for the following segments
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By Product, 2018 - 2032 (USD Million & Units)
- Fiberglass Splints
- Plaster Splints
- Tools & Accessories
- Others
By Application, 2018 - 2032 (USD Million)
- Upper Extremity
- Shoulder
- Elbow
- Hand and Wrist
- Lower Extremity
- Hip
- Knee
- Ankle & Foot
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Specialty Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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