The global casting and splinting market was valued at USD 3.21 billion in 2022 and is projected to reach USD 5.9 billion by 2032, with a revenue CAGR of 7% during the forecast period. Market growth is driven by factors such as the increasing incidence of bone and joint injuries, the aging population, rising healthcare costs, and technological advancements in casting and splinting products.
There is a global rise in the frequency of bone fractures and joint injuries, attributed to factors like an increase in traffic accidents and sports-related injuries. This trend has led to a high demand for casting and splinting products, which are used to support and immobilize injured body parts during the healing process. Additionally, the aging population contributes to the demand for these products due to a higher prevalence of bone and joint injuries among older individuals.
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Major Companies and Competitive Landscape:
- 3M Health Care Ltd.
- DePuy Synthes (Johnson & Johnson Services, Inc.)
- Zimmer Biomet
- BSN Medical
- DJO Global, Inc.
- Stryker Corporation
- Össur Americas
- Orfit Industries NV
- Bird & Cronin, Inc.
- Prime Medical, LLC
Data and Statistics about the Casting and Splinting Market:
- The American Academy of Orthopedic Surgeons estimates that over 4 million casts are applied annually in the U.S. alone, making casting one of the most commonly used orthopedic treatments.
- Orthopedic splinting materials are used in over 7 million medical procedures annually, according to the U.S. Department of Health and Human Services.
- The estimated annual global market size for casting and splinting materials is approximately USD 2 billion.
- New materials and technologies in the field of casting have seen significant advancements in recent years, as stated by the National Institutes of Health (NIH).
- The World Health Organization (WHO) estimates that over 200 million people worldwide suffer from musculoskeletal conditions, highlighting the importance of casting and splinting in the global healthcare market.
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Here are some key highlights from the report:
Government Regulations for Casting and Splinting Market:
- The U.S. Food and Drug Administration (FDA) has implemented regulations governing the marketing and sale of medical devices, including casting and splinting materials.
- The FDA’s Medical Device User Fee Amendments (MDUFA) regulate the premarket approval process for certain medical devices, including casting and splinting materials.
- The Centers for Medicare and Medicaid Services (CMS) have established regulations regarding the coverage of casting and splinting materials in Medicare and Medicaid programs.
- The Occupational Safety and Health Administration (OSHA) has set workplace safety standards to protect workers from hazards associated with casting and splinting materials.
- The European Union’s Medical Device Regulation (MDR) outlines the requirements for the manufacturing and sale of medical devices, including casting and splinting materials, in the EU.”
The market is further propelled by the escalating healthcare costs. Governments worldwide are increasing healthcare spending to enhance healthcare facilities and services, driving the demand for innovative medical products like casting and splinting items.
Government initiatives aimed at improving healthcare infrastructure in developing countries play a significant role in driving market revenue growth. For example, the Ayushman Bharat Yojana, a government-sponsored healthcare program in India, aims to provide free healthcare to economically disadvantaged sections of society, generating high demand for casting and splinting products.
However, factors such as lack of awareness about casting and splinting products and the high cost of innovative technologies may hinder revenue growth. Additionally, the availability of cheaper alternatives, such as traditional plaster casts, could partially impede market growth. Data and Statistics about the Casting and Splinting Market:
- The American Academy of Orthopedic Surgeons estimates that over 4 million casts are applied annually in the U.S. alone, making casting one of the most commonly used orthopedic treatments.
- Orthopedic splinting materials are used in over 7 million medical procedures annually, according to the U.S. Department of Health and Human Services.
- The estimated annual global market size for casting and splinting materials is approximately USD 2 billion.
- New materials and technologies in the field of casting have seen significant advancements in recent years, as stated by the National Institutes of Health (NIH).
- The World Health Organization (WHO) estimates that over 200 million people worldwide suffer from musculoskeletal conditions, highlighting the importance of casting and splinting in the global healthcare market.
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For the purpose of this report, Reports and Data have segmented into the global Casting and Splinting market on the basis of product type, material, application, and region:
By Product Type Outlook:
- Plaster
- Fiberglass
- Polyurethane
- Others
By Application Outlook:
- Trauma & Orthopedic
- Sports Injury
- Others
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Country Scope:
- U.S.
- Canada
- U.K.
- Germany
- France
- BENELUX (Belgium, Netherlands, Luxembourg)
- China
- India
- Japan
- South Korea
- Brazil
- Saudi Arabia
- UAE (United Arab Emirates)
- Turkey
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