On the basis of region, the Castingand Splinting Market is segmented into North America, Europe, LatinAmerica, Asia Pacific, Middle East, and Africa. Asia Pacific accounted for thelargest market share in 2016 due to high incidence of orthopedic injuries androad accidents in the region, which in turn, lead to high demand for castingand splinting products. Moreover, costs associated with manufacturing ofcasting and splinting products in this region is comparatively lower than thatof other regions, in turn positioning the region as a major manufacturing hub.In 2013, according to WHO, the East Asia-Pacific region recorded over 153,000fatalities from road accidents. This indicates an increasing demand for castingand splinting products, in turn, boosting growth of the market in the region.
Casts and splints are designed toprotect and support injured or fractured joints and bones. They help toimmobilize broken bones or dislocated joints in place, until fully healed. Acast is the treatment of choice in fractures where a minimal amount of swellingis expected, including fractures that are non-displaced as well as complicatedconditions such as Paige’s, wherein a cast is placed after subsided swellingdue to initial placement of a splint. Thus, the casting segment held alucrative market share in 2016. Additionally, development of different types ofmaterials for better treatment adherence and outcome is expected to augmentgrowth of the casting and splinting products market. In April 2017, SvenskaCellulosa Aktiebolaget (SCA) completed the acquisition of BSN Medical, aleading medical solution company with well-known brands such as Leukoplast,Cutimed, JOBST, Delta Cast, Delta Lite, and Actimove. These provide SCA aplatform for growth with future industry consolidation opportunities.
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Ambulatory Surgical Centers
Increasing incidence of roadaccidents and musculoskeletal injuries to propel overall growth of the market
The casting and splinting marketis expected to experience rapid growth over the forecast period, owing torising number of sports and vehicular accidents and other injuries, which inturn, is resulting in increasing number of musculoskeletal problems among thepopulace. Also, rampant growth of the geriatric population is expected to fueldemand for casting and splinting, as this population is more prone toorthopedic problems. As per the United Nations data, in 2015, around 901 millionpeople were over 60 years of age and this number is expected to reach 1.4billion by 2030 and to 2.1 billion by 2050. Advancements in technology hasinfluenced vendors to focus on using advanced materials such as fiberglass tapeand polyester tape for manufacturing casts and splints. These provide highpatient compliance in terms of wearing comfort and lasting support, improvedX-ray radiolucency, and also helps to avoid or minimize muscle atrophy andother immobilization-related issues. Availability of casts and splints in awide range of attractive colors and unique paw pattern is also be expected toboost sales of casting and splinting products worldwide. Growth of the market,however, is expected to be restrained by the high costs of equipment and highrisks of pressure sores or compartment syndrome.
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North America continues to holdthe second-largest market share in the casting and splinting products marketduring the forecast period, owing to increasing number of musculoskeletalinjuries and fractures in this region. In 2014, according to an articlepublished by EWI Works, 34% of all lost time claims were associated withsprain, strain, and tears of musculoskeletal tissue in the U.S.
Market is highly consolidatedwith major players actively pursuing aggressive expansive strategies
The casting and splintingproducts market is highly fragmented and region-specific. 3M Healthcare,Svenska Cellulosa Aktiebolaget (SCA), Stryker Corporation, and Prime Medicalsare among the major players in the market. Strategies adopted by thesecompanies to increase market share include flexible product offering to meetthe increasing demand of the large population base and engage in educationalprogrammes. 3M products are supported by an extensive range of educationalprogrammes provided by a team of technical sales specialists and a BritishOrthopedic Association (BOA) qualified technician. Other players in this marketinclude AliMed, Corflex Inc., DeRoyal Industries, Patterson Medical HoldingsInc., Zimmer Inc., and Bird & Cronin Inc.
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