Global Orthopedic Splints Market Size To Worth USD 3.81 Billion By 2033 | CAGR Of 9.62%
Category: HealthcareGlobal Orthopedic Splints Market Size To Worth USD 3.81 Billion By 2033 | CAGR Of 9.62%
According to a research report published by Spherical Insights & Consulting, the Global Orthopedic Splints Market Size is expected to grow from USD 1.52 billion in 2023 to USD 3.81 billion by 2033, at a CAGR of 9.62% during the forecast period 2023-2033.
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Browse key industry insights spread across 211 pages with 110 Market data tables and figures & charts from the report on the "Global Orthopedic Splints Market Size, Share, and COVID-19 Impact Analysis, By Product (Plastic Splints, Tools and Accessories, Fiberglass Splints, and Others), By Application (Upper Extremity and Lower Extremity), By End-User (Hospitals, Specialty Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/orthopedic-splints-market
The orthopedic splint market is an industry that manufactures and commercializes rigid supports known as orthopedic splints used to immobilize and support broken bones, sprains, and other musculoskeletal injuries. These supports are made of metal, plastic, or plaster and have various applications, including immobilizing suspected occult fractures, promoting healing, pain relief, preventing contracture and deformity, and controlling inflammation. The market includes products like the Thomas Splint, Orthopedic Roll Splint, Artificial Orthopaedic Implants Dennis Browne Splint, and HDPE Air Splint for legs and hands. Orthopedic splints are used to prevent deformity, correct existing deformities, achieve full active joint motion potential, and provide directional control for coordination problems. They also serve as a base for the attachment of specialized devices that may enhance hand function. The rising prevalence of musculoskeletal disease conditions, such as osteoarthritis, has accelerated the demand for orthopedic splints to stabilize affected joints, reduce pain, and minimize stress on injured joints. The Global Burden of Disease (GBD) study found that in 2020, 7.6% of the global population was affected by osteoarthritis, with the prevalence higher in women than men. The growing proportion of the aged population worldwide increases the occurrence of joint-related diseases, driving the demand for orthopedic splints and market growth. However, stringent regulatory guidelines and presence of the other alternatives impede market growth.
The fiberglass splints segment held the largest share of 28.81% in 2023 and is predicted to grow at a substantial CAGR during the predicted period.
Based on the product, the global orthopedic splints market is categorized as plastic splints, tools and accessories, fiberglass splints, and others. Among these, the fiberglass splints segment held the largest share of 28.81% in 2023 and is predicted to grow at a substantial CAGR during the predicted period. Its strength, durability, theoretical strength, lightweight, dependable mold, porous construction, ease of application, pain alleviation, and enhanced air circulation all contribute to this segment's growth.
The lower extremity segment accounted for the highest market share of 53.15% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global orthopedic splints market is categorized as upper extremity and lower extremity. Among these, the lower extremity segment accounted for the highest market share of 53.15% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The segment's growth is attributed to the diverse applications of orthopedic splints in lower extremity abnormalities, rising sports injuries, and foot bone fractures.
The hospitals segment held the highest market share of 42.38% in 2023 and is predicted to grow at a CAGR of 8.12% throughout the predicted timeframe.
Based on the end-user, the global orthopedic splints market is categorized into hospitals, specialty centers, and others. Among these, the hospitals segment held the highest market share of 42.38% in 2023 and is predicted to grow at a CAGR of 8.12% throughout the predicted timeframe. The segment growth is driven by the availability of skilled doctors, increased hospital admissions due to accidents, the availability of necessary tools, and the widespread use of orthopedic splints.
North America is expected to hold the greatest share of the global orthopedic splints market over the forecast period.
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North America is expected to hold the greatest share of the global orthopedic splints market over the forecast period. The demand for orthopedic splints in North America is increasing owing to an aging population, increased osteoarthritis, and technological advancements. The robust healthcare system and affordable reimbursement regulations are driving market growth. The aging population, growing awareness of preventative healthcare, and advancements in splint technology are driving demand.
Asia Pacific is predicted to hold the fastest-growing region of the global orthopedic splints market throughout the estimated period. Technological advancements in healthcare infrastructure, increased awareness of joint-related diseases, non-surgical treatment for musculoskeletal diseases, geriatric populations, research interest in orthopedic devices and tools, and increased healthcare sector expenditure are contributing factors to the market growth.
Major key players in the global orthopedic splints market are 3M, United Medicare Breg, Inc., Orthosys, Stryker Corporation, Essity, Ossur, Zimmer Biomet, DeRoyal Industries Inc., Sam Medical, Otto Bock Healthcare, Medi GmbH and Co. KG, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In January 2022, Dassiet introduced UCAST, a new product line for hospitals and health centers, aimed at expediting and enhancing fracture treatment. Thermoplastic UCAST casts, made of non-allergenic and non-toxic materials, take only five minutes to apply, making them quick and easy for patients and nursing staff. The lightweight, breathable splints are unobtrusive to the patient.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global orthopedic splints market based on the below-mentioned segments:
Global Orthopedic Splints Market, By Product
- Plastic Splints
- Tools and Accessories
- Fiberglass Splints
- Others
Global Orthopedic Splints Market, By Application
- Upper extremity
- Lower Extremity
Global Orthopedic Splints Market, By End-User
- Hospitals
- Specialty Centers
- Others
Global Orthopedic Splints Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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