Market Size of Global Orthopedic Splints Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 10.80 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Orthopedic Splints Market Analysis
The Orthopedic Splint Market is expected to register a CAGR of around 10.8% during the forecast period.
COVID-19 had a temporary negative impact on the market as the sudden onset of the pandemic resulted in canceling of many surgeries. The volume of orthopedic surgeries has significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. For instance, according to the article published in Cureus Journal in August 2021, the number of orthopedic surgeries fell by 22.8% during the first year of the pandemic. This led to a decrease in the demand for the orthopedic splint. Moreover, the market is gradually stabilizing as COVID-19 cases are declining to result in the return of the normal demand levels for an orthopedic splints.
Factors such as the increasing number of musculoskeletal disorders, increasing bone fracture cases, and a rise in the geriatric population are expected to fuel the market growth over the forecast period. Physicians often suggest the use of orthopedic splints to treat muscular, or muscle-nerve diseases that cause pain. Individual differences in pain include intense pain, shocking pain, and pain that worsens with movement. Thus, the use of orthopedic splints can be beneficial in people who experience severe pain in the hip, knee, ankle, feet, and in back muscles. According to the WHO data updated in July 2022, musculoskeletal diseases (MSD) are the main cause of disability globally, that affected 1.71 billion people globally in 2021. Thus, the burden of MSD globally is expected to drive demand for orthopedic splints, contributing to the overall market growth.
Furthermore, the increase in the geriatric population is expected to be a significant contributor to the studied market. According to WHO data published in October 2021, between 2015 and 2050, the proportion of the world's population over 60 years is predicted to nearly double from 12% to 22%. In 2050, 80% of older people will be living in low- and middle-income countries. This target population is more prone to age-related MSD and fractures due to falls. Thus, it is expected to generate demand for orthopedic splints used for pain relief purposes.
Therefore, due to the factors mentioned above, the studied market is anticipated to witness growth during the forecast period. However, negligence of the target population toward minor injuries is predicted to hinder the market growth.
Orthopedic Splints Industry Segmentation
As per the report's scope, splints are medical devices used to immobilize damaged or injured bones to enhance the healing rate. The splints are considered non-circumferential devices. A splint can be used for certain fractures, soft tissue sprains or tendon injuries, or injuries awaiting orthopedic treatment. The Orthopedic Splint Market is Segmented by Product (Fiberglass Splints, Plaster Splints, Splinting Tools and Accessories, and Other Products), Application (Lower Extremity, Upper Extremity, and Spinal), End-user (Hospitals, Outpatient Centers, and Other End-users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Fiberglass Splints | |
Plaster Splints | |
Splinting Tools And Accessories | |
Other Products |
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Spinal |
By End-user | |
Hospitals | |
Outpatient Centers | |
Other End-users |
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Global Orthopedic Splints Market Size Summary
The orthopedic splint market is poised for significant growth, driven by an increasing prevalence of musculoskeletal disorders, bone fractures, and a rising geriatric population. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a decline in orthopedic surgeries and, consequently, a reduced demand for splints. However, as the situation stabilizes, the demand for orthopedic splints is expected to return to normal levels. The global burden of musculoskeletal diseases, which are a leading cause of disability, is anticipated to further propel market growth. The geriatric population, particularly those over 60 years, is more susceptible to age-related disorders and fractures, thereby increasing the demand for splints for pain relief and support.
North America emerges as a key region in the orthopedic splint market, attributed to a high incidence of injuries and a growing elderly population prone to fractures and musculoskeletal disorders. The region's market growth is supported by the increasing prevalence of back pain and spinal surgeries. The United States, in particular, holds a significant market share due to the high incidence of fractures among the elderly. The market is characterized by fragmentation, with numerous global and regional players contributing to its competitive landscape. Recent developments, such as product launches and collaborations, are expected to further drive market expansion.
Global Orthopedic Splints Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number of Musculoskeletal Disorders
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1.2.2 Increasing Bone Fracture Cases
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1.2.3 Rise in Geriatric Population
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1.3 Market Restraints
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1.3.1 Negligence Toward Minor Injuries
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Fiberglass Splints
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2.1.2 Plaster Splints
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2.1.3 Splinting Tools And Accessories
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2.1.4 Other Products
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2.2 By Application
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2.2.1 Lower Extremity
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2.2.1.1 Ankle and Foot
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2.2.1.2 Hip
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2.2.1.3 Knee
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2.2.2 Upper Extremity
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2.2.2.1 Elbow
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2.2.2.2 Hand and Wrist
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2.2.2.3 Neck
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2.2.2.4 Shoulder
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2.2.3 Spinal
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2.3 By End-user
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2.3.1 Hospitals
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2.3.2 Outpatient Centers
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2.3.3 Other End-users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Orthopedic Splints Market Size FAQs
What is the current Global Orthopedic Splints Market size?
The Global Orthopedic Splints Market is projected to register a CAGR of 10.80% during the forecast period (2024-2029)
Who are the key players in Global Orthopedic Splints Market?
3M Company, DeRoyal Industries, Inc., Zimmer Biomet, Stryker and Dynatronics Corporation (Bird & Cronin) are the major companies operating in the Global Orthopedic Splints Market.