Orthopedic Splint Market- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Orthopedic Splint Market- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Orthopedic Splint Market is expected to register a CAGR of more than 10.8% during the forecast period.

At the beginning of the COVID-19 pandemic, the studied market was hampered due to strict lockdowns. The supply chain was also disrupted due to this. The lockdowns imposed were followed by the cancellation of medical visits and disease diagnoses. This resulted in delays in orthopedic procedures. However, due to lockdowns, the general population and orthopedic patients had to skip their regular activities. Thus, musculoskeletal diseases (MSD) increased among the target population. Additionally, some research also suggests that MSD is related to the COVID-19 infection. According to the research article “Musculoskeletal manifestations of COVID-19” published in May 2021, musculoskeletal symptoms of fatigue, myalgia, and arthralgia were common in patients with COVID-19. Although the exact incidence of musculoskeletal affliction is not clear, clinical data reported a higher prevalence of fatigue in more than 50% of patients with COVID-19. This argues for a considerable adoption of orthopedic splints during the pandemic. Therefore, the Covid-19 pandemic has significantly impacted the studies market.

Factors such as the increasing number of musculoskeletal disorders, increasing bone fracture cases, and a rise in the geriatric population are expected to fuel the market growth over the forecast period.

Physicians often suggest the use of orthopedic splints to treat muscular, or muscle-nerve diseases that cause pain. Individual differences in pain include intense pain, shocking pain, and pain that worsens with movement. Thus, the use of orthopedic splints can be beneficial in people who experience severe pain in the hip, knee, ankle, feet, and in back muscles. According to the World Health Organization (WHO) data updated in July 2022, musculoskeletal diseases (MSD) are the main cause of disability globally, that affected 1.71 billion people globally in 2021. Thus, the burden of MSD globally is expected to drive demand for orthopedic splints, contributing to the overall market growth.

Furthermore, the increase in the geriatric population is expected to be a major contributor to the studied market. According to World Health Organization (WHO) data published in October 2021, between 2015 and 2050, the proportion of the world's population over 60 years is predicted to nearly double from 12% to 22%. In 2050, 80% of older people will be living in low- and middle-income countries. This target population is more prone to getting age-related MSD and fractures due to falls. Thus, it is expected to generate demand for orthopedic splints used for pain relief purposes. Hence, it is expected to drive market growth over the forecast period.

Therefore, due to the factors mentioned above, the studied market is anticipated to witness growth during the forecast period. However, negligence of the target population toward minor injuries is predicted to hinder the market growth.

Key Market TrendsSpinal By Application Segment is Expected to Dominate the Market Over the Forecast Period

With the increasing number of cases of spinal cord injury, cases of back pain are increasing, followed by a rise in the use of orthopedic splints. Hence, the segment is expected to witness growth over the analysis period.

An increase in the number of patients suffering from spinal cord injury (SCI) is likely to be the key factor contributing to the growth of the segment. According to the National Library of Medicine data updated for spinal cord injuries in August 2021, motor vehicle collisions account for 38% of new SCI each year, 30% of SCI are due to falls, 13% due to violence, 9% from sports injuries, and 5% from medical and surgical etiologies in the United States. Additionally, as per the source mentioned above, there are approximately 17,000 new cases of SCI each year, and roughly 282,000 people are estimated to be living with SCI in the United States. Hence, the high burden of SCI in countries across the globe is anticipated to drive the demand for the use and availability of orthopedic splints. Therefore, it is poised to drive segment growth.

Moreover, the use of splinting is increasing for patients with SCI worldwide. According to the article “Hand Splints for Spinal Cord Injury: How to Choose the Right Fit for You” published in August 2022, for patients with SCI and who have trouble using their hands, splinting can be useful. The hands may weaken or even become paralyzed following a severe injury, such as cervical spinal cord damage. If not controlled, other problems may arise. Fortunately, hand splints for spinal cord damage can support functional hand positions and prevent deformity. Thus, these risks of SCI are creating demand for splints used by patients. Therefore, expected to fuel the segment growth.

Therefore, owing to the factors mentioned above, the segment is expected to witness growth over the forecast period.

North America is Expected to Dominate the Market Over the Forecast Period

North America is one of the major contributors to the studied market, owing to increasing cases of injuries, and growing geriatric populations prone to fractures and MSDs in the region.

Factors such as increasing back pain and a rising number of spinal surgeries are major contributors to the studied market in the country. According to the article published by the Ohio State University, data updated for Arm Injury Statistics 2021, 6 million people in the United States witness a broken bone each year. Additionally, as per the source above, among people of age 75 or more, hip fractures become the most common and account for 16% of all musculoskeletal injuries in the United States annually.

In addition, as per the article “Epidemiology of Atlas Fractures in the United States: A 20-year Analysis” published in March 2022, atlas fractures are often associated with injuries to the head and spine and occur mostly in the elderly population. As per the source above, these types of fractures are increasing in the United States, especially among the population aged 65 years or more. The annual incidence increased rapidly and vigorously over the study period, and more than 13 per million people were affected in the country with the atlas fractures in 2020. The study mentioned above also mentioned that the annual incidence rate of atlas fracture was more than 157 per million among the population aged 85 years or more in the United States. Thus, various medical professionals use splints to correct and restore anatomic length, rotation, and angulation of a patient-specific injury. Thus, the United States, in particular, holds the largest share among the other countries in the region. This is further expected to contribute to the market growth in the region.

Moreover, development activities such as product launches, acquisitions, and mergers among other activities are driving the overall, market growth. For instance, in June 2021, alumni of Touro School of Health Sciences occupational therapy launched a new company called Hook Splint with a focus to re-develop relative motion orthosis (RMO), which is a splint that places one finger relatively extended or flexed compared to the adjacent fingers and is used for the treatment of a variety of hand conditions. Such developments are anticipated to contribute to the market growth over the forecast period.

Therefore, owing to the aforesaid factors, North America is expected to dominate the market over the forecast period.

Competitive Landscape

The orthopedic splints market is fragmented. The major players in the market focus on continuous product development and offering orthopedic devices at competitive prices, especially in developing countries. Major market players are focused on continuous mergers and acquisitions to expand their market presence. A few of the major players in the market are Orthofix (Breg Inc.), Essity (BSN Medical), 3M Company, Otto Bock Healthcare, DeRoyal Industries Inc., Medi GmbH & Co. KG, Zimmer Biomet, Stryker, Dynatronics Corporation (Bird & Cronin), Patterson Medical Holdings Inc., Tynor, and Plasti Surge Industries, among others.

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