Casting & Splinting (Supplies & Equipment) Market - Forecast(2023 - 2028)

Report Code: HCR 0684 Report Format: PDF + Excel

Casting & Splinting (Supplies & Equipment) Market Overview

Casting & Splinting (Supplies & Equipment) Market size was estimated at $2.6 billion in 2020, projected to grow at a CAGR of 5.9% during the forecast period 2021-2026. Casting and splitting are inflexible wraps that are used to cover ligaments, injured bones, tendons, and other tissues and support them. In primary care such as clear & stable fracture, sprain, reduced joint dislocations, tendon injuries, and post-laceration repair, splinting (half cast) is more commonly used, unlike cast wrap splints can be simply removed or modified. By material it is divided into Fiberglass, Plaster of Paris, Polyester, Polyethylene and Others. Castings are ubiquitous strategies for the treatment of bone fracture, thereby having a greater market share, driving the Casting & Splinting (Supplies & Equipment) Industry. In some cases, splinting devices are deployed to provide spine/limb support, including temporary support for some form of exercise for potentially broken bones/damaged joints. Owing to the rising number of traumatic and injury, the demand for casting is projected to rise at a steady rate. Also, owing to the rising osteoporotic geriatric population, demand for the market increased particularly in countries with a high population. In addition, a growing number of musculoskeletal injuries are an important factor for growth owing to vehicular accidents is anticipated to drive the Casting & Splinting (Supplies & Equipment) market growth. For instance, approximately 1.71 billion individuals have musculoskeletal disorders worldwide, according to the World Health Organization. Low back pain, with a prevalence of 568 million people, causes the largest burden of musculoskeletal disorders.

Casting & Splinting (Supplies & Equipment) Market Report Coverage

The report: “Casting & Splinting (Supplies & Equipment) Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Casting & Splinting (Supplies & Equipment) Market.

By Product Type: Castings - Plaster Casts, Casting Plates, Cast Cutters and Others and Splitting - Fiberglass Splints, Plaster Splints and Others.
By Material: Fiberglass, Plaster of Paris, Polyester, Polyethylene and Others.
By End Use: Hospitals/ Clinics, Ambulatory Surgical Centers and Research & Development.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • The increase in the number of activities, incidents and adventure-related injuries has led to more musculoskeletal issues, pushing the Casting & Splinting (Supplies & Equipment) Industry growth. 
  • Geographically, Asia-Pacific Casting & Splinting (Supplies & Equipment) Market held the largest revenue share of 34% in 2020 owing to the high incidences of age-related orthopedic surgery disorders and growing geriatric population in this region. In the final report, the scope of the Casting & Splinting (Supplies & Equipment) Market for various regions will be given.
  • Companies have been motivated by technological advancements to concentrate on using advanced materials such as fiberglass tape and polyester tape for casting and splinting, resulting in market development.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Casting & Splinting (Supplies & Equipment) Market.

Casting & Splinting (Supplies & Equipment) Market: Market Share (%) by Region, 2020
 Casting & Splinting (Supplies & Equipment) Market
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Casting & Splinting (Supplies & Equipment) Market Segment Analysis – By Product Type:

Based on Product Type, Casting & Splinting (Supplies & Equipment) Market is segmented into Casting and Splitting. Casting accounted for the largest revenue market share in 2020 owing to the technical advances involving the integration of ergonomically designed and vacuum-based cutters to remove the cast easily without risking more damage, and adjustable blades based on the size of the cast. Since casting is the conventional and most widely used process for bone fracture, it is also expected to lead the Casting & Splinting (Supplies & Equipment) Industry over the forecast period 2021-2026. Furthermore, casting equipment and materials are divided into casting tapes, plaster casts, cast cutters, and tools & accessories for casting. Casting equipment consisting of orthopedic surgery, body plaster, or surgical casting is often made of fiberglass/plaster covering a limb before the wound has healed to stabilize and retain structural anatomy. Splinters segment is anticipated to grow with the fastest CAGR of 6.6% in the forecast period 2021-2026 owing to the benefits associated with them, such as the ease of production of plastic splints, which allows ready customization of splints, as well as high flexibility and strength of neoprene splints with easier and easier application and countenance for normal swelling during early inflammatory phase of the injury driving the segment growth.

Casting & Splinting (Supplies & Equipment) Market Segment Analysis – By Material:

Based on Material, Casting & Splinting (Supplies & Equipment) Market is segmented into Fiberglass, Plaster of Paris, Polyester, Polyethylene and Others. Plaster of Paris accounted for the largest revenue market share in 2020 owing various advantages in casting and splinting, including well-fitting, comfort wearing, and robust durability, encourage market success. The comprehensive implementation of POP in hospital environments is also considered beneficial in its high demand aiding growth towards Casting & Splinting (Supplies & Equipment) Market. Polyester segment is anticipated to grow with the fastest CAGR of 6.4% during the forecast period 2021-2026 owing to its superior properties, including hardness, low strength, and rigidity, and has high elasticity and impact strength as well as low friction, thereby making it suitable for a variety of applications. Polyester is a type of polymer that includes the ester functional group as its main chain. It is more broadly to a type of polyethylene terephthalate (PET) as a specific material. Polyesters include naturally occurring chemicals, such as in plant cuticles, and synthetics like polybutyrate, thus enhancing the segment demand.

Casting & Splinting (Supplies & Equipment) Market Segment Analysis – By Geography:

Based on Geography, Asia-Pacific Casting & Splinting (Supplies & Equipment) Market accounted for the 34% revenue share in 2020. This is majorly attributed to the high incidences of road accidents and orthopedic surgery injuries, which lead to the wide use of casting and splinting equipment and supplies in this region. In addition, road accidents are the main cause of injuries, disabilities, and death in India, accounting for 1,317 accidents per day, with an average of 4,94,624 injured individuals in 2016, according to the Government of India, Ministry of Road Transport & Highways Transport Research Wing, 2016. Moreover, the countries in this region have a large number of production facilities which can manufacture large quantities of inexpensive casting equipment to meet domestic and global demand. In addition, production costs are low in this region, attracting market-leading companies to invest in the Asia Pacific region. North America is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to rising toll of musculoskeletal injuries and fractures in this region. Moreover, high incidences of age-related orthopedic surgery disorders as a consequence of the rising geriatric population is increasing the product demand in the region. There are approximately 25,500 orthopedic surgery surgeons practicing in the United States, according to the American Academy of Orthopedic surgery orthopaedic aiding to the regional growth.

Casting & Splinting (Supplies & Equipment) Market - Drivers

Increasing Geriatric Population:

Increasing geriatric population base is highly susceptible for developing bone related diseases such as osteoporosis and osteoarthritis and is set to drive the Casting & Splinting (Supplies & Equipment) Market. In 2019, there were 703 million individuals worldwide aged 65 years or older. By 2050, the number of older individuals is estimated to double to 1.5 billion. Globally, the proportion of the population aged 65 years or over rose from 6% in 1990 to 9.1% in 2021. The growing elderly population is highly prone to numerous health disorders like as orthopedic surgery disorders and weak bone health leading to impairment that shows a significant impact on the demand for the Casting & Splinting (Supplies & Equipment) Industry.

Rising Technological Advancements:

Advances in casting and splinting materials, such as the use of fibreglass tape and polyester tape, are expected to dramatically increase the casting and splinting market, offering high patient compliance in terms of easy removal of a cast saw blade, smooth lamination, enhanced X-ray radiolucence, and their availability in attractive colors and patterns. Technological developments, such as the incorporation of vacuum-based cutters and ergonomically crafted cast cutters, make it easy to remove the cast without further damage and to change the blades depending on the cast size increases the product demand. Moreover, large number of distributors are focusing on creating awareness among people regarding health by using various social networking platforms that creates lucrative growth opportunity in near future for the Casting & Splinting (Supplies & Equipment) Market.

Casting & Splinting (Supplies & Equipment) Market - Challenges:

High Cost of Casting & Splinting (Supplies & Equipment):

High cost of the Casting & Splinting (Supplies & Equipment) coupled with low acceptance levels and lack of awareness among the people hinders the market growth. The high equipment costs and also the high risk of pressure sores or syndrome would serve as restrictions on Casting & Splinting (Supplies & Equipment) business growth. Moreover, number of people demanding is not receiving the efficient services owing to the lack of awareness of services and belief about disability that influence the treatment seekers. Furthermore, middle-income countries are predicted to hamper the markets growth owing to their lower income profile and escalating cost of the Casting & Splinting (Supplies & Equipment).

Casting & Splinting (Supplies & Equipment) Industry Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Casting & Splinting (Supplies & Equipment) Market. Casting & Splinting (Supplies & Equipment) Market top 10 companies are DeRoyal Industries, Patterson Medical Holdings Inc., Zimmer Inc., Bird & Cronin Inc., Stryker Corporation, Prime Medical Inc., 3M Healthcare, BSN Medical GmbH and AliMed, Corflex Inc.

Acquisitions/Product Launches:

  • In December, 2020, Zimmer Inc., a global leader in musculoskeletal healthcare acquired A&E Medical Corporation, a Vance Street Capital Portfolio Company for $150 million in cash at closing and $100 million in cash payable in 2021. In 2020, the transaction is projected to have no significant effect on net earnings.

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1. Casting & Splinting (Supplies & Equipment) Market - Overview
    1.1 Definitions and Scope
2. Casting & Splinting (Supplies & Equipment) Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Product Type
    2.3 Key trends by Material
    2.4 Key trends by Geography
3. Casting & Splinting (Supplies & Equipment) Market - Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis– Key Companies
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Selling Price
4. Casting & Splinting (Supplies & Equipment) Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Casting & Splinting (Supplies & Equipment) Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Casting & Splinting (Supplies & Equipment) Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Casting & Splinting (Supplies & Equipment) Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Casting & Splinting (Supplies & Equipment) Market – By Product Type (Market Size –$Million/$Billion)
    8.1 Castings
        8.1.1 Plaster Casts
        8.1.2 Casting Plates
        8.1.3 Cast Cutters
        8.1.4 Others
    8.2 Splitting
        8.2.1 Fiberglass Splints
        8.2.2 Plaster Splints
        8.2.3 Others
9. Casting & Splinting (Supplies & Equipment) Market – By Material (Market Size –$Million/$Billion)
    9.1 Fiberglass
    9.2 Plaster of Paris
    9.3 Polyester
    9.4 Polyethylene
    9.5 Others
10. Casting & Splinting (Supplies & Equipment) Market – By End User (Market Size –$Million/$Billion)
    10.1 Hospitals
    10.2 Ambulatory Surgical Centers
    10.3 Research & Development
11. Casting & Splinting (Supplies & Equipment) Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Casting & Splinting (Supplies & Equipment) Market - Entropy
13. Casting & Splinting (Supplies & Equipment) Market – Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Best Practices for Companies
14. Casting & Splinting (Supplies & Equipment) Market – Key Company List by Country Premium Premium
15. Casting & Splinting (Supplies & Equipment) Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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