Global casting and splinting market is expected to show
lucrative growth over the forecast period owing to rising incidences of
musculoskeletal problems. Rise in number of sports, accidents and
adventure-related injuries led to more number of musculoskeletal problems,
which in turn are helping casting and splinting market to grow. Furthermore,
rising number of musculoskeletal injuries due to vehicular accidents is an
important factor for growth. In addition, high prevalence of age-related
orthopedic illness as a result of presence of high geriatric population base is
expected to boost the casting and splinting market growth.
advancements in casting and splinting materials such as use of
fiberglass tape and polyester tape, which give high patient compliance in terms
of easy removal with cast saw blade, smooth lamination, improved X-ray
radiolucency, and their availability in attractive colors and patterns are
expected to boost the casting and splinting market substantially.
Global casting and splinting market is segmented on the basis of
equipment and supplies. Amongst casting and splinting, casting segment held
lucrative share in 2014. It is also expected to lead the market over the
forecast period owing to casting being the traditional and the most commonly
used method for bone fracture, hence, it exhibited the larger market size.
Casting equipment and supplies are further divided into casting tapes, plaster
casts, cast cutters, and casting tools & accessories. Cast cutters held the
largest market share in 2014 and are expected to lead the market over the
forecast period as a consequence of technological advancements such as
incorporation of vacuum-based cutters and ergonomically designed cast cutters,
which give easy removal of cast without any further injuries and adjustability
of blades depending on the size of the cast.
The other splints segment includes advanced products such as
wooden splints, plastic splints, neoprene splints, and metal splints. The
others splinting segment is expected to witness lucrative growth in the next
seven years owing to benefits associated with them such as manufacturing ease
of plastic splints, which allows ready customization of splints, in addition,
high versatility and strength of neoprene splints.
Asia Pacific accounted for the largest market share in 2014 as a
consequence of high population base. Densely populated countries like China,
India, Japan, and Korea have high incidences of road accidents and orthopedic
injuries, which lead to the wide use of casting and splinting equipment and
supplies. Moreover, these countries have large number of manufacturing
facilities which can produce affordable casting equipment in large quantities
to meet the domestic and global demand. In addition, manufacturing cost in this
region is low, which is attracting market-leading companies to invest in Asia
Pacific region. North America is expected to remain on second position in terms
of market share over the forecast period as a result of the rising toll of
musculoskeletal injuries and fractures in this region. Moreover, high incidences
of age-related orthopedic disorders as a consequence of rising geriatric
population are helping North American market to grow. Additionally,
well-planned reimbursement policies are giving access to costly casting and
splinting equipment which in turn help market to expand.
Few players represent
the largest players in market which include 3M Healthcare, BSN Medical, Stryker
Corporation, and Prime Medicals. The strategies adopted by these companies to
gain market share include presence in strategically important regions like Asia
Pacific and flexible product offering to meet the demand of large population
base.
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