Casts and splints are designed to protect and support injured or fractured joints and bones. They help to immobilize broken bones or dislocated joints in place, until fully healed. A cast is the treatment of choice in fractures where a minimal amount of swelling is expected, including fractures that are non-displaced as well as complicated conditions such as Paige’s, wherein a cast is placed after subsided swelling due to initial placement of a splint. Thus, the casting segment held a lucrative market share in 2016. Additionally, development of different types of materials for better treatment adherence and outcome is expected to augment growth of the casting and splinting products market. In April 2017, Svenska Cellulosa Aktiebolaget (SCA) completed the acquisition of BSN Medical, a leading medical solution company with well-known brands such as Leukoplast, Cutimed, JOBST, Delta Cast, Delta Lite, and Actimove. These provide SCA a platform for growth with future industry consolidation opportunities.
Casting and Splinting Products Market Taxonomy:
By Product Type:
By Material Type:
By End User:
Increasing incidence of road accidents and musculoskeletal injuries to propel overall growth of the market
The casting and splinting market is expected to experience rapid growth over the forecast period, owing to rising number of sports and vehicular accidents and other injuries, which in turn, is resulting in increasing number of musculoskeletal problems among the populace. Also, rampant growth of the geriatric population is expected to fuel demand for casting and splinting, as this population is more prone to orthopedic problems. As per the United Nations data, in 2015, around 901 million people were over 60 years of age and this number is expected to reach 1.4 billion by 2030 and to 2.1 billion by 2050. Advancements in technology has influenced vendors to focus on using advanced materials such as fiberglass tape and polyester tape for manufacturing casts and splints. These provide high patient compliance in terms of wearing comfort and lasting support, improved X-ray radiolucency, and also helps to avoid or minimize muscle atrophy and other immobilization-related issues. Availability of casts and splints in a wide range of attractive colors and unique paw pattern is also be expected to boost sales of casting and splinting products worldwide. Growth of the market, however, is expected to be restrained by the high costs of equipment and high risks of pressure sores or compartment syndrome.
On the basis of region, the casting and splinting market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. Asia Pacific accounted for the largest market share in 2016 due to high incidence of orthopedic injuries and road accidents in the region, which in turn, lead to high demand for casting and splinting products. Moreover, costs associated with manufacturing of casting and splinting products in this region is comparatively lower than that of other regions, in turn positioning the region as a major manufacturing hub. In 2013, according to WHO, the East Asia-Pacific region recorded over 153,000 fatalities from road accidents. This indicates an increasing demand for casting and splinting products, in turn, boosting growth of the market in the region.
North America continues to hold the second-largest market share in the casting and splinting products market during the forecast period, owing to increasing number of musculoskeletal injuries and fractures in this region. In 2014, according to an article published by EWI Works, 34% of all lost time claims were associated with sprain, strain, and tears of musculoskeletal tissue in the U.S.
Market is highly consolidated with major players actively pursuing aggressive expansive strategies
The casting and splinting products market is highly fragmented and region-specific. 3M Healthcare, Svenska Cellulosa Aktiebolaget (SCA), Stryker Corporation, and Prime Medicals are among the major players in the market. Strategies adopted by these companies to increase market share include flexible product offering to meet the increasing demand of the large population base and engage in educational programmes. 3M products are supported by an extensive range of educational programmes provided by a team of technical sales specialists and a British Orthopedic Association (BOA) qualified technician. Other players in this market include AliMed, Corflex Inc., DeRoyal Industries, Patterson Medical Holdings Inc., Zimmer Inc., and Bird & Cronin Inc.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.