Cast Saw Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Cast Saw Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Cast Saw Devices market studied was anticipated to grow with a CAGR more than 4.0%, during the forecast period. The major factors attributing to the growth of the cast saw devices market are increasing incidence of sports injuries, accidents, physical damages due to accidental falls with aging and osteoporosis. For instance, according to the Accident and Emergency (A&E) statistics for the year 2018-19, England has registered with the largest number of accident cases with over 3 million injuries representing the highest rate of attendance with just over 55,600 attendances for every 100,000 people indicating the growth of the market. There are few more factors that play a pivotal role in taking the market to the next level such as an increase in awareness of bone-related diseases such as osteoporosis, and technological advancement in the devices along with ongoing research activities fueling the market.

Cast Saw Devices Market TrendsBattery Operated Saw Devices are Expected to Hold the Largest Market Share in the Cast Saw Devices Market

• Battery operated saw devices are expected to account for the highest market share due to rising adoption of these devices by the healthcare providers owing to their technological advancements in the recent years that offer advantages such as display of optimum speed required for the procedure, activation of the device after applying pressure, and lesser weight compared to the other type of devices along with wireless operation which ensures more convenience to the user.
• Based on application, the fiberglass cast removal segment is anticipated to witness the largest revenue share which can be attributed to the rising adoption of fiberglass casts compared to traditional Plaster of Paris casts due to increased preference among patients as well as healthcare providers. The expansion of the fiberglass casts can be its advantages such as lightweight, easier application process and disadvantages associated with the use of POP casts such as excessive weight, prolonged drying period, and messy application process which are projected to fuel the demand for fiberglass cast during the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period.

North America is expected to dominate the overall Cast saw devices market throughout the forecast period. The dominance is due to several factors such as growing sports injuries coupled with the increasing geriatric population with osteoporosis in this region. For instance, according to the International Osteoporosis Foundation (IOF) stats published in the year 2017, Osteoporosis affects approximately 1.4 million Canadians, mainly postmenopausal women, and the elderly population. Also, the report states that osteoporosis affects 1 in 4 women and more than 1 in 8 men over the age of 50 years leading to high demand for the cast saw devices. United States holds the largest market share next to United Kingdom due to increased awareness of cast removal devices, rising healthcare expenditure and adoption of advanced healthcare infrastructure in the region propelling the global market revenue during the forecast period. next to United Kingdom

Cast Saw Devices Market Competitive Analysis

The Cast saw devices market is moderately competitive and consists of several major players. Few of the major players currently dominating the market are making acquisitions with the other companies to consolidate their market positions across the globe and increasing the focus on innovation. for instance, In June 2018, Ross Wark Medical Ltd launched a novel cast removal device that is lighter, easier to use and has a better cutting performance with enhanced safety for both the patient and the operator which is likely to boost the market growth in the forecast period. Some of the companies which are currently dominating the market are OSCIMED SA, De Soutter Medical Limited, Essity Aktiebolag, Prime Medical Inc, and Treu-Instrumente GmbH.

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