Orthopedic Splints Market Leading Players Updates and Industry Analysis Report till 2028

Orthopedic Splints Industry Overview

The global orthopedic splints market size is anticipated to reach USD 2.76 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 8.9% from 2021 to 2028. 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.

North America orthopedic splints market size, by product, 2018 - 2028 (USD Million)

Orthopedic splints Market Segmentation

Grand View Research has segmented the global orthopedic splints market on the basis of product, application, end-user, and region:

Based on the Product Insights, the market is segmented into Fiberglass, Plaster, Tools & Accessories, Others.

  • The fiberglass splints segment accounted for the maximum revenue share of more than 31% 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. Various technological advancements and high preference, especially in the rural areas of developing nations, are expected to contribute to the segment growth.

Based on the End-user Insights, the market is segmented into Hospitals, Specialty Centers, Others.

  • The hospitals’ segment accounted for the maximum revenue share of more than 45.0% 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. Furthermore, the rising number of hospital admissions in case of bone fractures and injuries caused by road accidents is estimated to boost the market growth.
  • The specialty centers segment is anticipated to witness the fastest CAGR of 9.8% from 2021 to 2028 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. This segment is also anticipated to witness significant growth during the projected period.

Based on the Application Insights, the market is segmented into Lower Extremity and Upper Extremity.

  • The lower extremity segment accounted for the maximum revenue share of around 55% in 2020. The market growth is attributed to the easy availability of these devices and the increasing prevalence of knee and hip fractures. The lower extremity segment is further divided into hip, knee, and ankle & foot. The ankle & foot segment is expected to account for the largest share, while the knee segment is estimated to grow at the fastest CAGR during the forecast period.
  • The upper extremity segment is expected to grow at the fastest CAGR from 2021 to 2028 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. The hand & wrist segment is anticipated to hold the dominant share of the market owing to rising cases of wrist fractures.

Orthopedic Splints Regional Outlook     

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

The global market is highly competitive and fragmented. Market players implement strategic initiatives, such as product development & launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers & acquisition.

Some of the prominent players operating in the global orthopedic splints market include,

  • Essity
  • 3M
  • Otto Bock Healthcare
  • DeRoyal Industries Inc.
  • Medi GmbH & Co. KG
  • Zimmer Biomet
  • Stryker
  • Orthosys
  • United Medicare
  • Sam Medical

Order a free sample PDF of the Orthopedic Splints Market Intelligence Study, published by Grand View Research.

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