The latest market report published by Credence Research, Inc. “Global Orthopedic Splints and Casts Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global orthopedic splints and casts market is anticipated to grow at a substantial CAGR of 6.50% in the upcoming years. The global orthopedic splints and casts industry was estimated to be worth USD 3.1 billion in 2022 and was expected to be worth USD 4.28 billion by 2030.
The report provides insights into the performance of major segments in the orthopedic splints and casts market. In 2022, the casts segment accounted for the largest market share, as they are successful and efficient methods for treating fractures. The synthetic splints and casts segment held a prominent market share, driven by the preference for synthetic materials over plaster of Paris due to their versatility and convenience.
Asia Pacific dominated the orthopedic splints and casts market in terms of regional revenue share in 2022. The region is witnessing a rise in musculoskeletal disorders, an aging population, and associated health issues. The presence of numerous regional and local producers offering cutting-edge products at reasonable prices further contributes to the market’s expansion. China, Japan, Australia, India, and South Korea are the key contributors to the market growth in the Asia Pacific region.
Key countries in the orthopedic splints and casts market include the United States, which holds a prominent share in North America. Factors such as the availability of advanced orthopedic products, an expanding elderly population, and different reimbursement systems for orthopedic surgery contribute to the market dominance of the US. China is expected to hold a significant share in the Asia Pacific market, driven by the increasing availability of novel products, a rise in sports-related injuries, and government initiatives to enhance healthcare and sporting facilities.
The Orthopedic Splints and Casts Market opportunities are vast and continue to expand with the growing healthcare industry. With an increasing demand for orthopedic splints and casts due to a rise in bone injuries, fractures, and musculoskeletal disorders, the market is expected to grow significantly over the next few years. The development of advanced materials such as fiberglass, plastic, metal alloy, thermoplastic resin has made it possible for manufacturers to produce lightweight yet durable products that offer better comfort levels for patients. The emergence of 3D printing technology has also enabled customization of splints and casts according to individual needs. Moreover, government initiatives towards improving medical infrastructure in emerging economies are driving growth in this sector. The rising geriatric population suffering from age-related conditions like arthritis further propels demand for these devices globally.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Orthopedic Splints and Casts Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Material and Product
- Major nations in each region with their import/export statistics
- The global Orthopedic Splints and Casts Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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