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The clinic casting and splinting products market size is projected to reach US$ 2,085.57 million by 2030 from US$ 1,383.42 million in 2022. The market is expected to register a CAGR of 5.3% during 2022–2030. The use of fiberglass and polyester material in casting and splinting offers high patient compliance in terms of easy removal, smooth lamination, and enhanced X-ray transparency that are likely to remain key trends in the market.
Clinic Casting and Splinting Products Market Analysis
Casts and splints are hard bandages used to protect and support injured bones, tendons, ligaments, and other tissues. The growing demand for casting and splinting products is because of the increasing number of traumatic injuries in accidents thereby leading to market growth. Technological breakthroughs, including advances in automation and artificial intelligence, are revolutionizing production processes, leading to greater efficiency and lower costs. Additionally, the growing number of e-commerce and digital platforms is expanding market reach and facilitating convenient access for consumers worldwide.
Clinic Casting and Splinting Products Market Overview
The rising number of musculoskeletal problems resulting from sports and adventure injuries have, increased the demand for casts and splinting products thereby boosting market growth. In addition, the increasing number of musculoskeletal injuries due to traffic accidents is a crucial factor for growth. Additionally, companies are increasingly focusing on sustainability initiatives such as carbon footprint reduction, recycling initiatives, and the use of eco-friendly materials to meet growing consumer demand for eco-friendly products. Additionally, with the proliferation of online shopping, e-commerce has become a dominant force in the clinical cast and splint products market. Companies are investing in robust e-commerce strategies to reach wider audiences and improve customer experiences.
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Clinic Casting and Splinting Products Market: Strategic Insights
Market Size Value in US$ 1,383.42 million in 2022 Market Size Value by US$ 2,085.57 million by 2030 Growth rate CAGR of 5.3% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Clinic Casting and Splinting Products Market: Strategic Insights
| Market Size Value in | US$ 1,383.42 million in 2022 |
| Market Size Value by | US$ 2,085.57 million by 2030 |
| Growth rate | CAGR of 5.3% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Clinic Casting and Splinting Products Market Drivers and Opportunities
High Prevalence of Age-Related Orthopedic Disorders
Arthritis, osteoarthritis, rheumatoid arthritis, bursitis, elbow pain, and fractures are among the most common orthopedic disorders. Among these, arthritis, osteoporosis, and fractures are a few common problems faced by older people. Osteoporosis is one of the most common bone system diseases that is linked to a high risk of bone fracture, resulting in various complications in the patients. The prevalence of osteoporosis is expected to increase with age and has therefore become a serious problem among the elders. According to a study by National Library of Medicine, in 2020, the prevalence of osteoporosis among elders in Spain and China was 39.3% and 39.4%, respectively. The World Health Organization (WHO) recognizes osteoporosis as the second largest global healthcare problem. According to UN DESA’s Population Division, the number of individuals aged 65 years and above is estimated to increase from 761 million in 2021 to 1.6 billion by 2050. Therefore, the rising prevalence of orthopedic disorders among the aged population propels the demand for casting and splinting products.
Advancements in 3D Technology for Casting and Splinting Products
The rapid development of 3D printing implies fast penetration 3D printing techniques into the healthcare system, especially for treating fractures. In rehabilitation tool manufacturing, 3D printing technology is applied to orthopedic cast fabrication to create patient-specific features with an appropriate fit and a ventilated structure. 3D printing makes the fabrication process simpler and in shorter period, especially in a customized design. On that account, the application of 3D printing in biomedical engineering is growing and promising to be practiced in the future. Also, the customizable hand cast made by using 3D printing technique is reliable and provides comfort and satisfaction to the patients. The 3D-printed cast proved to be superior in terms of satisfaction, comfort, and perceived function as compared to the fiberglass. Thus, the above-mentioned factors would create significant opportunities for the clinic casting and splinting products market in the coming years.
Clinic Casting and Splinting Products Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Clinic Casting and Splinting Products market analysis are product, application, and material.
- Based on product, the clinic casting and splinting products market is bifurcated into casting and splinting. The casting segment held the largest market share in 2022 because when it comes to serious fractures, orthopedic casts are usually the best option and they are typically made from stronger materials than splints, making them more durable and less likely to break or come loose. However, splinting segment is expected to register highest CAGR during the forecast period.
- By application, the market is segmented into acute fractures or sprains, tendon and ligament injuries, and others. The acute fractures or sprains segment held the largest share of the market in 2022 and is anticipated to register highest CAGR during 2020–2030.
- Based on material, the clinic casting and splinting products market is segmented into fiberglass, plaster of Paris, and others. The plaster of Paris segment held the largest market share in 2022. However, fiberglass segment is expected to register highest CAGR during the forecast period.
Clinic Casting and Splinting Products Market Share Analysis by Geography
The geographic scope of the clinic casting and splinting products market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the clinic casting and splinting products market. Factors leading to the growth of the clinic casting and splinting products market in North America are the rising rates of musculoskeletal injuries and growing geriatric population and associated orthopedic disorders. In addition, the reimbursement regulations in the region also enable access to pricey casting and splinting equipment, supporting market growth. In North America the US held the largest market share in 2023. As per the United States Bone and Joint Initiative (USBJI), in the US approximately three out of four people 65 and over and one in every two persons 18 and above is affected by musculoskeletal diseases. Corresponding to the data by the Centers for Disease Control and Prevention (CDC), the number of adults 65 or above is anticipated to reach 80.8 million and 94.7 million by 2040 and 2060 respectively, which would make up nearly 25% of the US population. Thus, the rising prevalence of musculoskeletal conditions and osteoporosis will boost the demand for casting and splinting products in the US.
Clinic Casting and Splinting Products Market Report Scope
Clinic Casting and Splinting Products Market News and Recent Developments
The clinic casting and splinting products market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the clinic casting and splinting products market are listed below:
- 3M Health Care launched the Scotchcast One-Step Splint, a lightweight and breathable splint designed to immobilize fractures and other injuries. The splint can be applied in a single step and easily removed for re-adjustment. (Source: 3M, Press Release, July 2021)
- Össur Americas acquired College Park Industries, a prosthetic feet, ankles, and knees manufacturer. The acquisition aimed to expand Össur Americas' product offerings in the prosthetics market. (Össur, Press Release, June 2020)
Clinic Casting and Splinting Products Market Report Coverage and Deliverables
The “Clinic Casting and Splinting Products Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Clinic casting and splinting products market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Clinic casting and splinting products market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Clinic casting and splinting products market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the clinic casting and splinting products market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, and Material
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
5.3% is the CAGR of the clinic casting and splinting products market.
US$ 2.20 billion would be the estimated value of the clinic casting and splinting products market by 2031.
Dynatronics Corporation and DeRoyal Industries are the leading players operating in the clinic casting and splinting products market.
Advances in casting and casting materials related to fiberglass is likely to act as future trends for the clinic casting and splinting products market.
The rising prevalence of musculoskeletal conditions and high prevalence of age-related orthopedic disorders are the driving factors impacting the clinic casting and splinting products market.
The North America region dominated the clinic casting and splinting products market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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