Casts and splints are wraps, which are hard in nature. These are used as a support to protect and join the broken bones, ligaments, and tendons. Casts and splints provide immobilization to the area from where the bones are broken and maintain the muscle activity and bone recovery.
The global orthopedic braces & support, casting & splints market is estimated to account for US$ 6,214.5 Mn in terms of value in 2019 and is expected to reach US$ 9,634.3 Mn by the end of 2027.
Global Orthopedic Braces & Support, Casting & Splints Market: Drivers
Increasing prevalence of obesity is expected to propel growth of the global orthopedic braces & support, casting & splints market over the forecast period. For instance, according to the Centers of Disease Control and Prevention, Behavioral Risk Factor Surveillance System, 2018, 71424.3 thousand people in the U.S. suffer from obesity.
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Global Orthopedic Braces & Support, Casting & Splints Market: Opportunities
Increasing cases of sports-related injuries is expected to offer lucrative growth opportunities for players in the global orthopedic braces & support, casting & splints market. For instance, according to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S.
Global Orthopedic Braces & Support, Casting & Splints Market: Restraints
Issues with fittings and some side effects of wearing splints are expected to hinder growth of the market. Prefabricated stack splint and the dorsal aluminum splint may not fit well and often lead to skin irritation.
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Key Takeaways:
The global orthopedic braces & support, casting & splints market was valued at US$ 5,839.3 Mn in 2019 and is forecast to reach a value of US$ 9,634.3 Mn by 2027 at a CAGR of 6.5% between 2020 and 2027. Major factor driving the growth of global orthopedic braces & support, casting & splints market during the forecast period include increasing geriatric population, and increasing cases of accidents.
Orthopedic Braces and Supports held dominant position in the global orthopedic braces & support, casting & splints market in 2019, accounting for 57.7% share in terms of value, followed by Casting Supplies & Equipment and Splinting Supplies & Equipment, respectively.
Market Trends
Major players in the market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in November 2018, DJO Global, Inc., a provider of orthopedic technologies, partnered with SirenMD, a workplace collaboration platform, to become the exclusive sales representative for SirenMD’s sports team market.
Use of IoT in orthopedic braces & support, casting & splints is expected to aid in growth of the market. For instance, in August 2019, Intellirod Spine launched iLink, a Bluetooth-enabled sensor module that can be attached to any brace, orthotic or prosthetic to measure wearing compliance, upright posture time and mobility daily through a free smartphone app.
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Regulations
Europe
- In Europe, orthopedic braces & supports, casting & splints are classified as Class I medical devices
- Manufacturers of class I devices are required to notify their address and a description of the devices concerned to the Competent Authority of the Member State where they have their registered place of business (Article 14, paragraphs 1 and 2 of Directive 93/42/EEC)
- Instructions for use are not required for Class I devices if these devices can be used safely without any such instructions (Annex I Section 13.1. of Directive 93/42/EEC)
- Class I devices are required to obtain certificate for conformity assessment as per Annex VII of EU directive 93/42/EEC and must register the device with competent authority
Global Orthopedic Braces & Support, Casting & Splints Market: Competitive Landscape
Major players operating in the global orthopedic braces & support, casting & splints market include, 3M, Össur Corporate, BSN medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical, Inc., Breg, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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Global Orthopedic Braces & Support, Casting & Splints Market: Key Developments
February 2019: Breg, Inc. launched Breg Quantum OA, a next generation unloader knee brace for mild to severe osteoarthritis
June 2018: Breg, Inc. hosted a co-creation workshop on bracing solutions with orthopedic surgeons and administrators
Segmentation
- By Type
- Orthopedic Braces and Supports
- Upper Extremity Braces and Support
- Low Extremity Braces and Support
- Casting Supplies & Equipment
- Splinting Supplies & Equipment
- Orthopedic Braces and Supports
- By Distribution Channel
- Orthopedic Clinics
- Hospitals
- OTC
- E-Commerce
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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