The global Orthopedic Splints market size is expected to be worth around US$ 6.76 billion by 2030, according to a new report by Vision Research Reports.
The global Orthopedic Splints market size was valued at US$ 2.45 billion in 2020 and is anticipated to grow at a CAGR of 9.9% during forecast period 2021 to 2030.
|Market Size||US$ 6.76 billion by 2030|
|Growth Rate||CAGR of 9.9% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Application, Product, End-user|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||SI-BONE, Inc.; SIGNUS Medizintechnik GmbH; Globus Medical; Orthofix Medical Inc.; Life Spine, Inc.; Camber Spine Technologies, LLC; CoreLink Surgical; Xtant Medical; Surgalign Spine Technologies, Inc.; Medtronic|
The key factors driving the market growth include growing technological advancements, rising prevalence of arthritis and other musculoskeletal conditions, bone fractures, and R&D activities. Furthermore, the increasing geriatric population is expected to fuel market growth.
The rising cases of bone fracture and increasing geriatric population are expected to boost the market growth. Furthermore, a surge in the number of musculoskeletal disorders is also anticipated to boost the market growth. During the COVID-19 pandemic, the demand for orthopedic splints decreased owing to a decline in the number of bone fractures globally. The number of bone fracture cases decreased because of prolonged lockdowns in various countries globally. Market players also experienced a decline in their segment as well as overall revenues.
By Application Analysis
The lower extremity segment accounted for the maximum revenue share of around 56% in 2020. The market growth is attributed to the easy availability of these devices and the increasing prevalence of knee and hip fractures.
The upper extremity segment is expected to grow at the fastest CAGR from 2021 to 2030 owing to technological advancements in this segment and the rising incidences of shoulder and neck injuries. The upper extremity segment is further divided into elbow, hand & wrist, shoulder, and neck.
By Product Analysis
The fiberglass splints segment accounted for the maximum revenue share of more than 31.5% in 2020. The market growth is attributed to the various advantages of fiberglass splints over other types of splints.
They weigh less, are more porous and durable, and hence are easy to use. Furthermore, they are a preferred choice in case the injured area needs to be X-rayed during the healing process. Moreover, it is available in various colors, which makes it a preferred alternative amongst the youth.
The plaster splint segment is anticipated to witness a significant CAGR over the forecast period. This is because it is a cheaper alternative as compared to fiberglass and other types of splints. It can also be molded into various shapes easily.
By End-user Analysis
The hospitals’ segment accounted for the maximum revenue share of more than 46.0% in 2020. The market growth is attributed to the high preference for hospitals in case of any injury. This trend is especially observed in developing economies.
The specialty centers segment is anticipated to witness the fastest CAGR of 10.8% from 2021 to 2030 owing to the growing awareness regarding specialty centers for the treatment of fractures and other such injuries. The others segment include ambulatory centers, clinics, trauma centers, and sports academies.
By Regional Analysis
North America accounted for the largest revenue share of around 40% in 2020. The increasing prevalence of orthopedic diseases, obesity, and geriatric population are expected to fuel the market growth during the forecast period.
The Asia Pacific region is expected to grow at the fastest CAGR of 11.5% from 2021 to 2030 owing to the high geriatric population in countries, such as China. This leads to high bone fracture cases, hence increasing the demand for orthopedic splints.
Otto Bock Healthcare
DeRoyal Industries, Inc.
Medi GmbH & Co. KG
Tools & Accessories
Ankle & Foot
Hand & Wrist
The Orthopedic Splints market research report covers definition, classification, product classification, product Advanced Therapy Medicinal Products CDMO, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Orthopedic Splints market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and Advanced Therapy Medicinal Products CDMO. Market size and forecast for each Advanced Therapy Medicinal Products CDMO segment have been provided for the global and regional market.
This report focuses on the global Orthopedic Splints market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Orthopedic Splints market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Orthopedic Splints market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Orthopedic Splints capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Orthopedic Splints by regions (countries) and Advanced Therapy Medicinal Products CDMO.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Orthopedic Splints market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Orthopedic Splints market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Orthopedic Splints market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main Advanced Therapy Medicinal Products CDMO areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and Advanced Therapy Medicinal Products CDMO. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Orthopedic Splints industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Orthopedic Splints market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, Advanced Therapy Medicinal Products CDMO dominance. The above data points provided are only related to the companies’ focus related to Orthopedic Splints market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Orthopedic Splints market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Orthopedic Splints market. These factors have benefited the growth of the global market for Orthopedic Splints. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Orthopedic Splints. The global market is segmented on the basis of region, Advanced Therapy Medicinal Products CDMO, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Orthopedic Splints are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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