Orthopedic Splints Market to Grow with a CAGR of 6.04% through 2028

Increase demand for orthopedic splints and advancements in medical technology are expected to drive the Global Orthopedic Splints Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Orthopedic Splints Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Orthopedic Splints Market stood at USD 1.57 billion in 2022 and is anticipated to grow with a CAGR of 6.04% in the forecast period, 2024-2028. This can be attributed to rehabilitation and physical therapy. Orthopedic splints play a vital role in rehabilitation and physical therapy programs. They aid in restoring joint function and muscle strength after injuries or surgeries. The increasing awareness of the importance of rehabilitation in achieving optimal outcomes has boosted the utilization of orthopedic splints in post-injury care.

Moreover, collaboration between manufacturers, healthcare providers, and researchers is fostering innovation in the orthopedic splints market. Ongoing research and clinical trials aim to improve the efficacy of splints, leading to better patient outcomes.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Orthopedic Splints Market”

The market is poised for growth due to the increasing incidence of bone fractures and the expanding elderly population. Additionally, there is an expected upsurge in musculoskeletal disorders, which is also set to contribute to market expansion. However, during the COVID-19 pandemic, the demand for orthopedic splints witnessed a decline due to a reduction in global bone fracture cases. This decrease in fractures was primarily a result of extended lockdowns implemented in numerous countries worldwide. Consequently, market players faced a downturn in both their specific segments and overall revenues. For example, Zimmer Biomet recorded an 8.5% decrease in its S.E.T segment, while Essity experienced a 9.9% decline in its medical solutions segment in 2020. In accordance with the National Center for Biotechnology Information, approximately 1.5 million individuals suffered fractures caused by bone diseases as of 2020. Furthermore, the growing elderly population is expected to contribute to a higher incidence of such fractures, consequently driving the demand for these products and fueling market growth.

The Global Orthopedic Splints Market is segmented into product, application, end-user, regional distribution, and company.

Based on its product, the fiberglass splints segment has emerged as the predominant market leader. The growth in this market segment is attributed to the numerous advantages of fiberglass splints when compared to other types. They are lighter in weight, possess greater porosity and durability, making them user-friendly. Additionally, fiberglass splints are the preferred choice when X-rays are required during the healing process. Moreover, their availability in various colors makes them a popular choice among younger individuals.

Conversely, the plaster splint segment is expected to experience a substantial Compound Annual Growth Rate (CAGR) throughout the forecast period. This is mainly due to its cost-effectiveness in comparison to fiberglass and other splint varieties. Plaster splints are also highly malleable, easily molded into different shapes. Various technological advancements and a strong preference, particularly in rural areas of developing nations, are expected to contribute significantly to the growth of this segment.

Based on end-user, the hospitals sector took the largest share of revenue in 2022. This growth can be attributed to the strong preference for hospitals, particularly in developing economies, when it comes to addressing injuries. Additionally, the increasing number of hospital admissions due to bone fractures and injuries resulting from road accidents is expected to fuel market growth.

Specialty centers, on the other hand, are projected to experience the most rapid CAGR in the forecast period. This is because there is a growing awareness of the effectiveness of specialty centers in treating fractures and similar injuries. The "others" category encompasses ambulatory centers, clinics, trauma centers, and sports academies, and it is also expected to witness substantial growth during the forecasted period.

Major companies operating in Global Orthopedic Splints Market are:

• Essity AB
• SAM Medical Products
• 3M Co
• Otto Bock Healthcare GmbH
• DeRoyal Industries Inc
• medi GmbH & Co KG
• Zimmer Biomet Holdings Inc
• Stryker Corp

Download Free Sample Report

Customers can also request for 10% free customization on this report.

“The global orthopedic splints market is poised for exciting developments. Personalization, technology integration, sustainability, and patient-centered care are among the key trends driving this evolution. As the market continues to adapt to changing healthcare dynamics, patients can expect to receive more effective and convenient orthopedic care, ultimately improving their quality of life. Manufacturers and healthcare providers will play a pivotal role in shaping these trends and ensuring that orthopedic splints remain at the forefront of musculoskeletal care,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Orthopedic Splints Market By Product (Fiberglass Splints, Plaster Splints, Tools & Accessories, Others), By Application (Lower Extremity (Hip, Knee, Ankle & Foot), Upper Extremity (Elbow, Hand & Wrist, Shoulder, Neck)), By End-user (Hospitals, Specialty Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Orthopedic Splints Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Orthopedic Splints Market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: www.techsciresearch.com