Orthopedic Splints Market Insight and Trends 2030

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.

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Orthopedic Splints Market Growth Factors

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.

Report Coverage

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.

Key Players

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

Market Segmentation

• By Product
  • Fiberglass Splints
  • Plaster Splints
  • Tools & Accessories
  • Others
• By Application
  • Lower Extremity
    • Hip
    • Knee
    • Ankle & Foot
  • Upper Extremity
    • Elbow
    • Hand & Wrist
    • Shoulder
    • Neck
• By End-user
  • Hospitals
  • Specialty Centers
  • Others
• Regional
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • Israel

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