Casting and Splinting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,’ states that the global market is expected to expand at a 5.0% CAGR during the period between 2014 and 2020 owing to factors such as the rising incidence of sports, accidental, and adventure-related injuries.
Transparency Market Research has published a new report on the global casting and splinting market. According to the report, the global casting and splinting market is expected to rise from US$1.63 bn in 2013 to US$2.30 bn by 2020.
Casting and splinting products are primarily used as medical equipment in the field of orthopedics. Casts are essentially bone setting equipment, mainly recommended for use to fix fractures with small complications. Splints are utilized for muscular, bone, and ligament injuries or fractures and also for many other medical cases. Together, casting and splinting equipment offers the basic support to osteoporotic and accident-related fracture patients.
Factors such as the increasing number of age-related orthopedic illnesses and the availability of enhanced splinting and casting devices are expected to propel the global casting and splinting market in the years to come. However, an unfavorable reimbursement scenario is expected to hamper the growth of the global casting and splinting market in the coming few years. The increasing use of advanced materials in splints and casts is expected to benefit the global casting and splinting market in the near future. Leading players are concentrating on fulfilling the unmet needs of the people, thus boosting the global casting and splinting market.
Some of the leading players in the global casting and splinting market are 3M Health Care, BSN medical GmbH., AliMed, Corflex, Inc., DeRoyal Industries, Inc., Össur hf., Spencer Italia S.r.l., Zimmer, Inc., Stryker Corporation, Prime Medical, Inc, Bird & Cronin, Inc., DJO, LLC, Orfit Industries n.v., Patterson Medical Holdings, Inc., and Stryker Corporation.
The global casting and splinting market is segmented on the basis of equipment and supplies and geography. By equipment and supplies, the global casting and splinting market is classified into the casting market and the splinting market. The casting market is sub-segmented into plaster casts, casting tapes, cast cutters, and casting tools and accessories. The splinting market is sub-segmented into fiberglass splints, plaster splints, splinting tools and accessories, and others. The splinting supplies and equipment market is predicted to dominate the global casting and splinting market in the years to come.
Based on geography, the global casting and splinting market is divided into Europe, Asia Pacific, North America, and Rest of the World. In 2013, Asia Pacific accounted for 35% of the global casting and splinting market owing to factors such as the increasing incidence of trauma and accidents and the increasing occurrence of skeletal injuries and osteoporosis. The Asia Pacific casting and splinting market is expected to expand at a 6.0% CAGR from 2014 to 2020.
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