What the Casting And Splinting Products Market Can Offer Your Business
According to the latest report published by Credence Research, Inc. “Casting and Splinting Products Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global casting and splinting products market was valued at US$ 2,117.8 Mn in 2016, and is expected to reach US$ 3,695.2 Mn by 2025, expanding at a CAGR of 6.4% from 2017 to 2025.
The global casting and splinting products market is set to witness satisfactory growth through the upcoming years majorly due to rising incidence of musculoskeletal conditions, rising senescent population and product innovations. Increase in the number of sports and fitness activities, adventure sports related injuries, and transit accidents further augment the growth of casting and splinting products market. Growth in the prevalence of age related musculoskeletal diseases resulting from ever growing pool of geriatric population is anticipated to open opportunities in this market in terms of growth in sales volume. Additionally, development in nature of materials used in casting and splinting products, delivering better treatment adherence and treatment outcome are expected to augment the proliferation of this market.
Based on the type of products, this market is separately categorized into types of casting and splinting products. Plaster casts, casting tapes, cast cutters and casting tools and accessories are the major types of casting products, whereas splinting products include fiberglass splints, plaster splints, other splints, splinting tools and accessories. Among these, casting products are anticipated to occupy larger revenue share through the forecast period and cast cutters will lead the market as an outcome of product design evolution, facilitating quick and convenient cast removal.
Based on geographical distribution, the casting and splinting products market is led by Asia Pacific. High population pool in countries such as Japan, China and India significantly contribute to the dominance of Asia Pacific in the global casting and splinting products market. This region further presents opportunities to manufacturers to establish their bases to produce further cost competitive products and achieve competitive advantage. Additionally, large pool of senescent population in North America resulting from increased life expectancy and well-structured reimbursement scenario has led to the robust state of North America market.
The casting and splinting products market is highly competitive and is additionally characterized by challenge to market incumbents from local players. Some of the major players in the global casting and splinting products are 3M & Company, AliMed, Bird & Cronin Inc., BSN Medical GmbH, Corflex, Inc., DeRoyal Industries, DJO Global, Orfit Industries N.V., Össur hf, Patterson Medical Holdings Inc., Prime Medical Inc., Spencer Italia S.r.l., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Geographically, the global casting and splinting products market is cumulative to North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
The detailed regional classification of the global casting and splinting products market is as follows:
North America (U.S. & Canada)
Europe (EU 7, CIS, and Rest of
Asia-Pacific (China, India, Japan and Rest of Asia Pacific)
Middle East and Africa (GCC and Rest of Middle East and Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)