The global orthopedic splints industry is projected to achieve a significant milestone, with an estimated market size of US$ 1.7 billion in 2022. A recent market analysis indicates a promising trajectory, forecasting a Compound Annual Growth Rate (CAGR) of 11.5% over the next decade, culminating in a market value of approximately US$ 4.9 billion by the end of 2032.
The surge in cases of osteoporosis and the growing elderly population have emerged as key contributors to the escalating demand for orthopedic splints. These medical devices play a crucial role in supporting and immobilizing broken bones, dislocated joints, and soft tissue injuries, effectively addressing fractures, sprains, strains, and various orthopedic conditions.
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Termed as the Orthopedic Splints Market, businesses involved in the creation, sale, and distribution of orthopedic splints are at the forefront of meeting this rising demand. The industry’s projected growth signifies a burgeoning market opportunity for companies actively participating in the orthopedic splints sector.
Key Highlights:
- Market Size Projection: The global orthopedic splints market is anticipated to reach US$ 4.9 billion by 2032, reflecting a robust CAGR of 11.5% over the next ten years.
- Driving Forces: The increase in osteoporosis cases and the expanding elderly population are identified as primary drivers fueling the demand for orthopedic splints.
- Medical Utility: Orthopedic splints serve as indispensable medical tools, offering support and immobilization for a wide range of orthopedic issues, including broken bones, dislocated joints, and soft tissue injuries.
- Market Participants: Companies operating in the Orthopedic Splints Market are poised to capitalize on this growth trend, with significant opportunities for innovation and market expansion.
FMI, a leading player in the orthopedic splints industry, is committed to meeting the evolving needs of healthcare providers and patients. With a focus on innovation, quality, and accessibility, FMI aims to contribute to the positive trajectory of the global orthopedic splints market.
Key takeaways from the orthopedic splints market include:
- Market Growth: The orthopedic splints market has been experiencing steady growth in recent years. Factors such as an aging population, increasing incidences of bone injuries and fractures, and advancements in orthopedic technology have contributed to market expansion.
- Product Types: Orthopedic splints are available in various types, including fiberglass splints, plaster splints, and metal splints. Fiberglass splints are widely preferred due to their lightweight, ease of use, and superior strength.
- Application Areas: Orthopedic splints find applications in various medical fields, including orthopedics, sports medicine, emergency care, and rehabilitation. They are commonly used for fractures, sprains, strains, and post-surgical immobilization.
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Competitive Analysis:
By Prominent Market Players:
- 3M Company
- DeRoyal Industries Inc.
- Zimmer Biomet Holdings Inc.
- Medi GmbH & Co. KG
- Orthosys
- United Medicare
- Sam Medical
- BSN Medical
- Essity
- Stryker Corporation
- DeRoyal Industries Inc.
Orthopedic Splints Market: Segmentation
By Product Type:
- Plaster Splints
- Fiberglass Splints
- Tools & Accessories
- Other Product Types
By Application:
Upper Extremity
- Elbow
- Hand & Wrist
- Shoulder
- Neck
Lower Extremity
- Hip
- Knee
- Ankle & Foot
By End-User:
- Specialty Centers
- Hospitals
- Other End-users
By Region
- North America
- The Asia Pacific
- Europe
- The Middle East and Africa
- Latin America
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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