Technavio analyzes that the Orthopedic Splints Market is expected to grow at a CAGR of 10.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1240.9 million.There are various factors that contribute to the growth of the market. The orthopedic splints market is experiencing significant growth due to the rising incidence of osteoporotic fractures worldwide. Osteoporosis, a condition characterized by weakened bones, leads to an increased susceptibility to fractures, particularly in the elderly population. Orthopedic splints are essential in providing support and immobilization to fractured bones, thereby aiding in the healing process. The market for these medical devices is anticipated to expand further as the global population ages and the prevalence of osteoporosis continues to increase.
In the orthopedic market, lower extremity splints are essential medical devices used for treating injuries and conditions affecting the hip, thigh bones, leg, foot, and ankle joints. These splints, available in fiberglass or plaster material, cater to various musculoskeletal issues, including fractures, dislocations, sprains, and tendon ruptures. The fiberglass splints segment is poised for growth due to their durability and ease of application. This segment offers foot and ankle splints in various sizes, providing stronger and more versatile alternatives to traditional plaster of Paris splints. Notable market players, such as Essity with its Delta-Cast brand, offer synthetic splints for the lower extremity, further expanding the product portfolio. The target consumer base includes individuals suffering from osteoporosis, geriatric population, sports-related injuries, road accidents, compartment syndrome, pressure sores, and thermal injuries.
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Orthopedic Splints Market Segmentation
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Orthopedic splints are essential medical devices used to stabilize bones, muscles, and joints affected by fractures, sports injuries, or musculoskeletal illnesses. The aging population and increasing bone fracture cases due to road accidents, sports-related injuries, and trauma drive market growth. Innovations like 3D-printed splints using lightweight materials such as carbon fiber and thermoplastics enhance patient care experience. Durability and porosity are key considerations for splints used in treating musculoskeletal diseases like osteoporosis, arthritis, and compartment syndrome. Rehabilitative technology advances with efficient materials, improving clinical results for various orthopedic injuries, including sprains.
The Orthopedic Splints Market is a significant segment within the expansive Global Healthcare Equipment Market. This sector encompasses businesses and research entities dedicated to the development of orthopedic splints for managing bone fractures, musculoskeletal illnesses, and sports injuries. Technavio, a leading market research firm, positions this market as a key player in the broader healthcare equipment industry. The global healthcare equipment market encompasses manufacturers of capital equipment, instruments, implants, accessories, and consumables used in disease diagnosis, monitoring, and treatment. Technavio estimates the market size by aggregating the revenues of orthopedic splint manufacturers, employing advanced technologies such as 3D-printing, lightweight materials like carbon fiber and thermoplastics, to enhance patient care experience and cater to the needs of an aging population.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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