Casting and Splinting Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Casting and splinting refer to protective wraps used protection and support of ligaments, damaged bones, torn tendons, and other tissues. Splinting also known as half cast is a non-circumferential bone immobilizer and is mainly used in preliminary care in cases of stable fracture, joint dislocations, sprain, tendon injuries, and in laceration repairs, unlike cast wrap splints that can be adjusted or detached with ease. Whereas, casting is majorly utilized in fractural complications such as broken bone, sever ligament damage, joints treatment, and therapy. With the help of these two medical aids, rapid immobilization of injured legs can be achieved to maintain the original position of the bone by the time it is recovered. They are also used extensively in the management of various musculoskeletal injuries and fractures requires. Casts and splints offer protection, provide stability along with structural support, and correct improper alignment or injuries with the help of rehabilitation. Splints can be easily adjusted as per the swelling condition.

COVID – 19 scenario analysis: 

• 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 has cause taken a huge toll in terms of money and economic growth.
• Over 4 million people affected globally, with 300,000 losing their lives due to SARS-CoV-2.
• 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.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The casting and splinting market is expected to witness tremendous growth owing to factors like increasing incidence of trauma related to injuries due to sports activities and adventures and surge in cases of road accidents due to a myriad of factors causing extreme musculoskeletal injuries. Additionally, rising geriatric population coupled with high prevalence of orthopedic illness in elderly populace would boost the growth of casting and splinting market. Moreover, developments in casting and splinting use of manufacturing materials including use of polyester tape and fiberglass tape, which provides optimal levels of patient compliance as it facilitates quick removal using cast saw blade, improved X-ray radiolucency, smooth lamination have enabled the market development. Their abundance in market in several colors, sizes, patterns and customization options offers the consumers options while procuring these medical aids. In addition to this, development of casts featuring open-lattice plastic design would have positive impact on the market.

Although the advancements in technology would fuel the market, factors such as development of habit due to excessive immobilization as a result of constant use of casting or splinting often leads to complications such as muscle atrophy, joint stiffness, and chronic pain. It can also result in extreme complications including compartment syndrome, pressure sores, and dermatitis. These factors may hamper the growth of the market worldwide. Moreover, the ill-practice of self-prescription of OTC ointments and analgesics to counter musculoskeletal pains and swelling can further impede the market growth of casting and splinting to a certain extent.

Rising awareness among people regarding the advantages of integrating casting and splinting in case of orthopedic and musculoskeletal disease management would provide abundant growth avenues for revenue generation for the global casting and splinting market.

Growth in incidences of sports injuries and road accidents would surge the demand

Immense rise in interests in the sports and adventure-based activities have resulted in tremendous patient pools suffering with musculoskeletal and limb injuries. The cases of road accidents is also on rise in the past few decades. These incidences result in maladies related to bones, joints, muscular tissues and limbs. Furthermore, severe injuries potentially lead to knee fractures, hip injuries, bruises, and head trauma. The World Health Organization statistics stated that in 2018, approximately 20 million to 50 million injuries were reported owing to road accidents annually around the world. Road accidents, being one of the prominent causes of death, inflicts fatalities on individuals at a ripe age of 5 to 29 years. Thus, growth in road accidents and sports and adventure activities related injuries would surge the demand for casting and splinting thereby augmenting the market growth in coming years.

Asia-Pacific region dominates the market with highest share

Asia-pacific region is expected to lead the casting and splinting market throughout. The dominance is 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. Furthermore, 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 fueling the market in the near future.

 Key benefits of the report:

• This study presents the analytical depiction of the global casting and splinting market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global casting and splinting market share.
• The current market is quantitatively analyzed to highlight the global casting and splinting market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global casting and splinting market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the casting and splinting market research report:

• Which are the leading market players active in the casting and splinting market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Casting and Splinting Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights