Casting and Splinting Market Forecasts to 2030 – Global Analysis By Product Type (Casting and Splinting), Application, End User and By Geography

Casting and Splinting Market Forecasts to 2030 – Global Analysis By Product Type (Casting and Splinting), Application, End User and By Geography

According to Stratistics MRC, the Global Casting and Splinting Market is accounted for $2.8 billion in 2023 and is expected to reach $5.1 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Casting and splinting are orthopedic techniques used to immobilize and support injured bones and soft tissues. A cast is typically made from fiberglass or plaster and encases the injured area completely, providing rigid stabilization. Splints, made from materials like metal or fiberglass, offer more flexibility and are often used for temporary support or minor fractures. Both methods aim to promote healing, reduce pain, and prevent further injury by restricting movement. Proper application by trained professionals is crucial to ensure effectiveness and minimize complications. Follow-up care, including monitoring for swelling and discomfort, is essential for successful rehabilitation.

According to the World Health Organization, India accounts for 11% of the global road accident deaths, and road traffic injuries are the eighth leading cause of death in India.

Market Dynamics:

Driver:

Rising incidence of bone fractures and joint injuries

As the number of injuries rise, there's a growing need for more advanced and specialized casting and splinting materials. This spurs innovation in the market, leading to the development of new products like lighter and more comfortable materials for improved patient experience, water-resistant casts for better hygiene and functionality during healing, Adjustable splints that allow for controlled movement and rehabilitation. Thus With a wider range of injuries, there's a demand for catering to specific needs. This can lead to the development of specialized splints for wrists, ankles, or even for complex fractures requiring specific immobilization techniques.

Restraint:

High cost

Due to the high costs, there might be a greater emphasis on finding cost-effective alternatives to casting and splinting whenever possible. This could lead to increased use of braces or physical therapy techniques that might not require splinting, potentially reducing the overall market size for casting and splinting products. This could result in safety concerns or hinder the development of innovative new splinting materials.

Opportunity:

Growing geriatric population

As people age, they become more susceptible to osteoporosis, a condition that weakens bones and makes them more prone to fractures even from minor falls. This significantly increases the need for casting and splinting to immobilize and support fractures during healing. Age-related decline in balance and coordination can lead to more frequent falls and injuries, especially among the elderly. These falls can cause bone fractures in the hips, wrists, and ankles, all requiring casting or splinting for proper healing.

Threat:

Risk of complications

Complications like infections or improper healing that necessitate additional treatment can significantly increase healthcare costs. This puts a strain on healthcare budgets and can lead to stricter regulations or limitations on the use of casting and splinting in certain situations. This can increase malpractice insurance costs and make healthcare providers more cautious in using casting and splinting, potentially limiting its application.

Covid-19 Impact

The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses. Industry closures and people are asked to stay in their homes which have cause taken a huge toll in terms of money and economic growth. Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers. Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to casting and splinting has been reduced and this segment have to face negligence subsequently causing negative impact on casting and splinting market.

The splinting segment is expected to be the largest during the forecast period

The splinting segment is estimated to have a lucrative growth, as splints offer more versatility compared to rigid casts. They can be adjusted to accommodate swelling or allow for controlled movement during healing, making them suitable for a wider range of musculoskeletal injuries. This expands the market reach by catering to injuries beyond those requiring complete immobilization with a cast.

The musculoskeletal injuries segment is expected to have the highest CAGR during the forecast period

The musculoskeletal injuries segment is anticipated to witness the highest CAGR growth during the forecast period, musculoskeletal injuries, including bone fractures, sprains, strains, and dislocations, are a major reason why casting and splinting are needed. A higher incidence of these injuries directly translates to a greater need for immobilization and support, which is what casts and splints provide. This increased demand fuels sales and revenue for manufacturers and suppliers in the casting and splinting market.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to factors like rise in the global prevalence of geriatric populace, rising cases of emergencies and road accidents, growth in adventures and sports activities leading to severe musculoskeletal injuries and higher adoption of technology in the region is propelling the market in the Asia-Pacific segment. Additionally presence of densely populated states including India, Japan, China, and Korea having large number of cases of road accidents as well as orthopedic injuries that will result in boosting the demand for casting and splinting equipment market

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the high number of manufacturing facilities, availability of cheap labor helps to keep the manufacturing costs for these equipment low, which will help in providing affordable equipment in bulk quantities to meet the industry requirement. High strain to get better health outputs at lower costs and dense population base are the other factors fuelling the market in the near future.

Key players in the market

Some of the key players in the Casting and Splinting Market include 3M Company, Alimed, Inc., Ascent Meditech Limited, B. Braun Melsungen AG, Bird & Cronin, Inc., BSN medical GmbH, Corflex, Inc., DeRoyal Industries, Inc., DJO Global, Inc., Medtronic plc, Orfit Industries NV, Össur hf., Ottobock SE & Co. KGaA, Patterson Medical Holdings, Inc., Prime Medical, Inc., Remington Products, Smith & Nephew plc, Spencer Italia S.r.l., Stryker Corporation and Zimmer Biomet Holdings, Inc.

Key Developments:

In April 2024, Smith+Nephew announces new evidence supporting ALLEVYN◊ LIFE Foam Dressing’s role in pressure injury prevention. This novel mechanism of action further adds to our understanding of how multi-layer dressings such as ALLEVYN LIFE work when used prophylactically for PIP.1

In April 2024, 3M launches new Verify app to help tackle counterfeit personal protective equipment. Depending on the type of product, using a counterfeit product could put a person's safety at risk.

In March 2024, 3M introduces a world's first innovation to help redefine shipping and packaging. This new material called 3M™ Padded Automatable Curbside Recyclable (PACR) Mailer Material is capable of producing packages up to three times faster than manual packing

Product Types Covered:
• Casting
• Splinting

Applications Covered:
• Fracture Management
• Musculoskeletal Injuries

End Users Covered:
• Hospitals
• Clinics
• Home Healthcare
• Ambulatory Surgical Centers

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements