Demand for casting and splinting has significantly risen in the last few years, bolstered by the increasing incidence of sports, orthopedic, and musculoskeletal injuries. The aged are more prone to injuries, hence growth witnessed in the geriatric population globally will fuel overall prospects for the market in response.
With the evolution of technology, producers are looking to use advanced materials for manufacturing casts and splints. This subsequently is expected to boost sales of casts and splints worldwide. The market however is likely to get restrained by the unfavorable reimbursement policies, as per Transparency Market Research (TMR). Nevertheless, in the near future the presence of high unmet needs in emerging economies will present attractive opportunities for vendors in the market.
TMR pegs the overall value of the global casting and splinting market at US$1.8 bn in 2015. The market is poised to reach US$3.1 bn by the end of 2024.
Asia Pacific Exhibits Conditions Conducive to Growth in Casts and Splints Sales
Regionally, Asia Pacific has been exhibiting the highest prospects in the global casting and splinting market, followed by North America. Demand for casts and splints is visibly high in countries such as India, Korea, and China. The high incidence of osteoporotic hip fractures and road accidents in these countries has resulted in their lead in the Asia Pacific market for casts and splints.
Many producers who manufacture affordable casting equipment in large-scale are domiciled across these countries thus gratifying the increasing demand in local and international markets. Furthermore, casts and splints are widely used in Asia Pacific, due to which, their price in the region is comparatively low. This has resulted in the increased demand for casts and splints and consequently has earned increased revenue for the region’s casting market. The regional market will also gain from the rapidly growing population in India and China.
TMR finds the Asia Pacific market for casting and splinting stood at US$487.1 mn in 2014. Rising at a CAGR of 6.9% from 2015 to 2024, the market is expected to reach US$888.1 mn by the end of the forecast period.
TMR projects North America to continue holding the second-largest share in the market during the forecast period. The increasing incidence of osteoporosis and musculoskeletal injuries in the region will aid expansion of the casting and splinting market in North America.
Demand for Cast Supplies will Remain High Through the Forecast Period
The major products available in the market can be broadly classified into casting supplies and equipment and splinting supplies and equipment. Of these, the casting supplies and equipment segment held over 60% of the market in 2015. Castings are ubiquitous methods of treating bone fracture hence hold larger share in the market. The demand for casts is expected to surge at a steady pace due to the increasing number of traumatic and accident injuries. Demand from the segment will also rise due to the increasing osteoporotic geriatric population, particularly in countries with high population.
The most common casting supplies and equipment available in the market include casting tapes, plaster casts, casting tools, and cast cutters. Of these, cast cutters held a share of 30% in the cast products market in 2015. Demand for cast supplies is expected to remain high through the forecast period.
Companies such as 3M Healthcare, Stryker Corporation, BSN Medical GmBH exhibit the largest regional outreach with presence across diverse casting and splinting product categories. A few other prominent names operating in the market include AliMed, Bird & Cronin, Inc., Corflex, Inc., DJO, LLC, DeRoyal Industries, Inc., Orfit Industries n.v., Össur hf., Patterson Medical Holdings, Inc., Spencer Italia S.r.l., Stryker Corporation, and Zimmer, Inc.
Casting and Splinting (Supplies and Equipment) Market to Rise Notably Owing to Rising Number of Sports Injury Cases
With the development of innovation, makers are hoping to utilize progressed materials for assembling projects and braces. This consequently is relied upon to help deals of projects and braces around the world. Demand for casting and splinting has essentially ascended over the most recent couple of years, supported by the expanding rate of sports, muscular, and musculoskeletal wounds. The matured are more inclined to wounds, consequently development saw in the geriatric populace around the world will fuel in general possibilities for the market accordingly.
The instances of sports, musculoskeletal, and muscular wounds have been on an ascent as of late, in this way, encouraging interest for splinting and casting across the globe. This demand is intensified by the endeavors of the market players to present split and cast materials that are more viable in speeding the recuperation cycle. Moreover, the case of wounds is higher in the geriatric populace, and subsequently, the ascent of this segment complements the market. The repeat of street mishaps has likewise assumed a urgent part in improving the possibilities of market development.
Despite the market has been riding on a princely development way, the market isn't liberated from obstacles. The absence of protection covers and repayment approaches across a few provincial pockets has deterred individuals from falling back on splinting and casting for medicines. The arising economies are under the brunt of non-strong government approaches in such manner. All things considered, the fast advancement of the medical care industry would help the worldwide splinting and casting market.
Infirmities brought about by wounds can deny patients of an ordinary life, regularly bringing about mental injury as well. The headway in parting and casting advances has recovered expectation among the weak populace. The different kinds of items under the casting supplies and hardware portion incorporate cast cutters, casting tapes, casting devices and extras, and mortar projects. Under the parting supplies and gear class, the items incorporate mortar braces, splinting devices and embellishments, fiberglass supports, and different braces like neoprene and polyester.
Table of Content
Chapter 1 Introduction
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Market Snapshot: Global Casting and Splinting (Supplies and Equipment) Market
2.2 Global Casting and Splinting Market Revenue, by Country, (US$ Mn), 2015 – 2024)
2.3 Global Casting and Splinting Market Revenue, by Product Type, (US$ Mn), 2015
Chapter 3 Global Casting and Splinting (Supplies and Equipment) Market Overview
3.1 Introduction
3.2 Market Drivers
3.2.1 Increasing Incidences of Accidental, Sports and Adventure Related Injuries
3.2.2 Usage of advanced materials to manufacture casts and splints
3.2.3 Aging global population
3.3 Market Restraints
3.3.1 Unfavorable Reimbursement policies
3.4 Market Opportunities
3.4.1 High Unmet Needs in emerging economies
3.5 Porter’s Five Forces Analysis: Global Casting and Splinting (Supplies and Equipment) Market
3.5.1 Bargaining Power of Suppliers
3.5.2 Bargaining Power of Buyers
3.5.3 Threat of Substitutes
3.5.4 Threat of New Entrants
3.5.5 Competitive Rivalry
3.6 Market Attractiveness Analysis
3.7 Value Chain Analysis
3.8 Heat Map Analysis
3.9 Recommendations
Chapter 4 Global Casting and Splinting Market, by Supplies and Equipment
4.1 Overview
4.2 Casting Supplies and Equipment
4.2.1 Global Casting Supplies and Equipment Market Revenue, by Product Type, (US$ Mn), 2014–2024
4.2.3 Plaster Casts
4.2.4 Casting Tapes
4.2.5 Cast Cutters
4.2.6 Casting Tools and Accessories
4.3 Splinting Supplies and Equipment
4.3.1 Global Splinting Supplies and Equipment Market Revenue, by Product Type, (US$ Mn), 2014–2024
4.3.3 Fiberglass Splints
4.3.4 Plaster Splints
4.3.5 Other Splints
4.3.6 Splinting Tools and Accessories
Chapter 5 Global Casting and Splinting (Supplies and Equipment) Market, by Geography
5.1 Overview
5.1.1 Global Casting and Splinting (Supplies and Equipment) Market Revenue, by Geography, US$ Mn, 2014 - 2024
5.2 North America
5.2.1 North America Casting and Splinting (Supplies and Equipment) Market Revenue, (US$ Mn), 2014–2024
5.3 Europe
5.3.1 Europe Casting and Splinting (Supplies and Equipment) Market Revenue, (US$ Mn), 2014–2024
5.4 Asia Pacific
5.4.1 Asia Pacific Casting and Splinting (Supplies and Equipment) Market Revenue, (US$ Mn), 2014–2024
5.5 Rest of the World (RoW)
5.5.1 RoW Casting and Splinting (Supplies and Equipment) Market Revenue, (US$ Mn), 2014–2024
Chapter 6 Company Profiles
6.1 3M Health Care
6.2 BSN medical GmbH
6.3 DeRoyal Industries, Inc.
6.4 DJO, LLC
6.5 Orfit Industries n.v.
6.6 Ossur hf.
6.7 Prime Medical, Inc.
6.8 Spencer Italia S.r.l.
6.9 Stryker Corporation
6.10 Zimmer Holdings, Inc.
List of Tables
Table 1 - Market Segmentation
Table 2 - Global Casting and Splinting Market, 2016–2024: Market Snapshot
Table 3 - Global Casting and Splinting Market, 2016–2024: Market Snapshot
Table 4 - Global Casting and Splinting Market Revenue, by Supplies and Equipment, (US$ Mn), 2014–2024
Table 5 - Global Casting Supplies and Equipment Market Revenue, by Product Type, (US$ Mn), 2014–2024
Table 6 - Global Splinting Supplies and Equipment Market Revenue, by Product Type, (US$ Mn), 2014–2024
Table 7 - Global Casting and Splinting Market Revenue, by Geography, (US$ Mn), 2014–2024
Table 8 - North America Casting and Splinting Market Revenue, by Country, (US$ Mn), 2014–2024
Table 9 - North America Casting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 10 - North America Splinting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 11 - Europe Casting and Splinting Market Revenue, by Country, (US$ Mn), 2014–2024
Table 12 - Europe Casting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 13 - Europe Splinting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 14 - Asia Pacific Casting and Splinting Market Revenue, by Country, (US$ Mn), 2014–2024
Table 15 - Asia Pacific Casting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 16 - Asia Pacific Splinting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 17 - Rest of the World Casting and Splinting Market Revenue, by Country, (US$ Mn), 2014–2024
Table 18 - Rest of the World Casting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
Table 19 - Rest of the World Casting Equipment and Supplies Market, By Type (US$ Mn), 2014–2024
List of Figures
Figure 1 - Global Casting Supplies and Equipment Market, by Product Type, (US$ Mn), 2015
Figure 2 - Global Splinting Supplies and Equipment Market, by Product Type, (US$ Mn), 2015
Figure 3 - Global Casting Supplies and Equipment Market, by Geography, (US$ Mn), 2015
Figure 4 - Global Casting Supplies and Equipment Market, by Geography, (US$ Mn), 2024
Figure 5 - Porter’s Five Forces Analysis:
Figure 6 - Market Attractiveness Analysis, by Geography (2015)
Figure 7 - Value Chain Analysis
Figure 8 - Heat Map Analysis
Figure 9 - Global Plaster Casts Market Revenue, (US$ Mn), 2014–2024
Figure 10 - Global Casting Tapes Market Revenue, (US$ Mn), 2014–2024
Figure 11 - Global Cast Cutters Market Revenue, (US$ Mn), 2014–2024
Figure 12 - Global Casting Tools and Accessories Market Revenue, (US$ Mn), 2014–2024
Figure 13 - Global Fiberglass Splints Market Revenue, (US$ Mn), 2014–2024
Figure 14 - Global Plaster Splints Market Revenue, (US$ Mn), 2014–2024
Figure 15 - Global Other Splints Market Revenue, (US$ Mn), 2014–2024
Figure 16 - Global Splinting Tools and Accessories Market Revenue, (US$ Mn), 2014–2024
Figure 17 - North America Casting and Splinting Market Revenue, (US$ Mn), 2014–2024
Figure 18 - Europe Casting and Splinting Market Revenue, (US$ Mn), 2014–2024
Figure 19 - Asia Pacific Casting and Splinting Market Revenue, (US$ Mn), 2014–2024
Figure 20 - Rest of the World Casting and Splinting Market Revenue, (US$ Mn), 2014–2024
Figure 21 - Financial Overview: Annual Revenue (US$ Mn), 2013–2015
Figure 22 - Financial Overview: Annual Revenue (US$ Mn), 2013–2015
Figure 23 - Financial Overview: Annual Revenue (US$ Mn), 2013–2015
Figure 24 - Financial Overview: Annual Revenue (US$ Mn), 2013–2015
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