Transparency Market Research

Casting and Splinting Market Worth US $3.1 Billion by 2024 as Rising Incidence of Accidents and Traumatic Injuries Boost the Growth

Asia Pacific has been exhibiting the highest prospects in the global Casting and Splinting Market, followed by North America

 

Albany, NY -- (SBWIRE) -- 12/16/2016 -- The major products available in the market can be broadly classified into casting supplies and equipment and splinting supplies and equipment. Of these, the casting supplies and equipment segment held over 60% of the market in 2015. Castings are ubiquitous methods of treating bone fracture hence hold larger share in the market. The demand for casts is expected to surge at a steady pace due to the increasing number of traumatic and accident injuries. Demand from the segment will also rise due to the increasing osteoporotic geriatric population, particularly in countries with high population.

The most common casting supplies and equipment available in the market include casting tapes, plaster casts, casting tools, and cast cutters. Of these, cast cutters held a share of 30% in the cast products market in 2015. Demand for cast supplies is expected to remain high through the forecast period.

This report on the casting and splinting (supplies and equipment) market analyzes the current as well as future prospects of the market globally. Most individuals experience orthopedic or musculoskeletal injuries or disorders at least once during their lifetime. Most of the musculoskeletal problems are caused due to vehicular accidents, sports and adventure-related injuries and age related orthopedic injuries. Various casting and splinting products are used to treat musculoskeletal problems.

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The casting and splinting market research report provides a detailed analysis of the casting and splinting (supplies and equipment) market and helps understand various driving factors for the growth of the market. The market overview section analyzes market dynamics and trends such as drivers, restraints and opportunities that influence the current nature and future status of the market. Porter's five forces analysis has been covered in terms of bargaining power of buyers and suppliers, threat of new entrants and substitutes, and competitive rivalry in the global casting and splinting market. Value chain analysis and other market dynamics factors such as market attractiveness analysis have also been explained in order to deliver a thorough analysis of the overall competitive scenario of the global casting and splinting (supplies and equipment) market. This section of the report also includes key players' product wise heat map analysis in 2015 for this market.

The casting and splinting (supplies and equipment) market has been segmented into casting supplies and equipment, and splinting supplies and equipment. The casting supplies and equipment segment has been sub-segmented into plaster casts, casting tapes, cast cutters and casting tools and accessories. The splinting supplies and equipment segment has been classified into four major sub-segments: fiberglass splints, plaster splints, other splints (polyester, plastic, neoprene, metal, etc.) and splinting tools and accessories.

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Companies such as 3M Healthcare, Stryker Corporation, BSN Medical GmBH exhibit the largest regional outreach with presence across diverse casting and splinting product categories. A few other prominent names operating in the market include AliMed, Bird & Cronin, Inc., Corflex, Inc., DJO, LLC, DeRoyal Industries, Inc., Orfit Industries n.v., Össur hf., Patterson Medical Holdings, Inc., Spencer Italia S.r.l., Stryker Corporation, and Zimmer, Inc.

Regionally, Asia Pacific has been exhibiting the highest prospects in the global casting and splinting market, followed by North America. Demand for casts and splints is visibly high in countries such as India, Korea, and China. The high incidence of osteoporotic hip fractures and road accidents in these countries has resulted in their lead in the Asia Pacific market for casts and splints.