Orthopedic Splints Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72194

The orthopedic splints market share is expected to increase by USD 885.36 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.92%.

This orthopedic splints market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers orthopedic splints market segmentation by application (lower extremity and upper extremity) and geography (North America, Europe, Asia, and ROW). The orthopedic splints market report also offers information on several market vendors, including 3M Co., Breg Inc., DARCO International Inc., DeRoyal Industries Inc., DJO Global Inc., Dynatronics Corp., Essity Aktiebolag (publ), medi GmbH and Co. KG, Stryker Corp., and Zimmer Biomet Holdings Inc. among others.

What will the Orthopedic Splints Market Size be During the Forecast Period?

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Orthopedic Splints Market: Key Drivers, Trends, and Challenges

The increasing incidence of osteoporotic fractures is notably driving the orthopedic splints market growth, although factors such as complications associated with usage of splints may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the orthopedic splints industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Orthopedic Splints Market Driver

One of the key factors driving the global orthopedic splints market growth is the increasing incidence of osteoporotic fractures. The spinal fractures, also called vertebral compression fractures, occur an estimated 1.5 million times annually in the US. They are twice as common as other fractures linked to osteoporosis, including broken hips and wrists. According to the data provided by the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporosis fracture every 3 seconds. In 2019, in Europe, approximately 32 million individuals aged above 50 years were estimated to have osteoporosis. The prevalence of osteoarthritis in the growing aging population across the globe acts as one of the major factors driving the growth of the global orthopedic splints market.

Key Orthopedic Splints Market Trend

Usage of splints for the treatment of tetraplegic patients is another key factor driving the global orthopedic splints market growth. According to the National Spinal Cord Injury Statistical Center (NSCISC), in the US, the annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million people. The usage of these splints is considered important for controlling and preventing the deformities of the hands of a tetraplegic patient. Because the hands of a tetraplegic patient are prone to contracture, overstretching, tightening of soft tissues, stiffness, and instability of the joints due to the loss of muscle function. Furthermore, the availability of a wide range of moldable splints (at an affordable price) that can be ideal for usage by tetraplegic patients will drive the growth of the global orthopedic splints market during the forecast period.

Key Orthopedic Splints Market Challenge

One of the key challenges to the global orthopedic splints market growth is the complications associated with the usage of splints. The leading complication that arises with the usage of splints is compartment syndrome which affects the blood flow of the limb covered by a splint and leads to tissue perfusion. It can also cause ischemia and potentially irreversible damage to the soft tissues within that space. Additionally, thermal injuries such as heat burns to the skin can occur as a result of splinting process. These heat burns can be caused by prolonged usage of fiberglass or plaster splints. The usage of splints can also lead to complications such as skin breakdown, often caused by focal pressure from a wrinkled, unpadded, or underpadded splint on underlying soft tissue. Thus, these challenges are expected to negatively impact the global orthopedic splints market during the forecast period.

This orthopedic splints market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global orthopedic splints market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the orthopedic splints market during the forecast period.

Who are the Major Orthopedic Splints Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • 3M Co.
  • Breg Inc.
  • DARCO International Inc.
  • DeRoyal Industries Inc.
  • DJO Global Inc.
  • Dynatronics Corp.
  • Essity Aktiebolag (publ)
  • medi GmbH and Co. KG
  • Stryker Corp.
  • Zimmer Biomet Holdings Inc.

This statistical study of the orthopedic splints market encompasses successful business strategies deployed by the key vendors. The orthopedic splints market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • 3M Co. - The company offers orthopedic splints products under the brand name Scotchcast.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The orthopedic splints market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Orthopedic Splints Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the orthopedic splints market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global healthcare equipment market includes the following core components:

  • Research & development
  • Inputs
  • Operations
  • Distribution
  • Post-sale and services
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Orthopedic Splints Market?

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41% of the market's growth will originate from North America during the forecast period. The US is the key market for orthopedic splints in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.

The significant increase in the number of non-fatal road injuries and sports injuries in countries such as the US and the strong market presence of the leading vendors will facilitate the orthopedic splints market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted the orthopedic splints market in the region. The pandemic reduced the number of sports activities in the region, resulting in fewer injuries to joints and ligaments. Additionally, elective surgeries and non-emergency procedures, including orthopedic surgeries, were delayed in 2020 by hospitals in the US. According to the American Hospital Association, the financial impact of the reduction in elective procedures in the US, which drives a huge share of the revenue for hospitals, led to an estimated USD 200 billion in financial losses for healthcare systems and hospitals between March and June 2020. However, in H2 2021 due to the availability of vaccines and reduction in COVID-19 cases in the region, hospitals and other healthcare facilities resumed elective procedures such as orthopedic surgeries. Thus, the regional demand for orthopedic splints rebounded, which will positively impact the market growth during the forecast period.

What are the Revenue-generating Application Segments in the Orthopedic Splints Market?

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The orthopedic splints market share growth by the lower extremity segment will be significant during the forecast period. The growth is attributed to the increase in demand for lower extremity splints owing to their wide use for the lower part of the body, such as the hip, knee, bones of the thigh, leg, foot, and ankle joints. Prominent vendors in the market, such as Essity Medical Solutions through its brand Delta-Cast offer synthetic splints for the lower extremity, which will support the market growth through this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the orthopedic splints market size and actionable market insights on post COVID-19 impact on each segment.

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Orthopedic Braces and Supports market - The market size will grow by USD 1.16 billion during 2019-2023 at over 5% CAGR.

Orthopedic Surgical Navigation Systems market - The expected increase in market share from 2021 to 2026 is USD 140.07 million at a progressing CAGR of 6.96%.

Orthopedic Implants market - The expected increase in market share from 2021 to 2026 is USD 15.45 billion at a progressing CAGR of 7.73%.

Orthopedic Splints Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.92%

Market growth 2022-2026

$ 885.36 million

Market structure

Fragmented

YoY growth (%)

8.20

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 41%

Key consumer countries

US, Germany, UK, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Breg Inc., DARCO International Inc., DeRoyal Industries Inc., DJO Global Inc., Dynatronics Corp., Essity Aktiebolag (publ), medi GmbH and Co. KG, Stryker Corp., and Zimmer Biomet Holdings Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Orthopedic Splints Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive orthopedic splints market growth during the next five years
  • Precise estimation of the orthopedic splints market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the orthopedic splints industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of orthopedic splints market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key Finding 2

                              *Exhibit 03:  Key Finding 3

                              *Exhibit 04:  Key Finding 5

                              *Exhibit 05:  Key Finding 6

                              *Exhibit 06:  Key Finding 7

                              *Exhibit 07:  Key Finding 8

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *Exhibit 08:  Parent market

                              *Exhibit 09:  Market characteristics

               **2.2 Value chain analysis           

                              *Exhibit 10:  Value chain analysis: Healthcare equipment

                              *2.2.1 Research and development

                              *2.2.2 Inputs

                              *2.2.3 Operations

                              *2.2.4 Distribution

                              *2.2.5 Marketing and sales

                              *2.2.6 Post-sales and services

                              *2.2.7 Industry innovations

***3. Market Sizing                      

               **3.1 Market definition

                              *Exhibit 11:  Offerings of vendors included in the market definition

               **3.2 Market segment analysis  

                              *Exhibit 12  Market segments

               **3.3 Market size 2021 

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *3.4.1 Estimating growth rates for emerging and high-growth markets

                              *3.4.2 Estimating growth rates for mature markets

                              *Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

                              *Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 15:  Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 16:  Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 17: Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 18:  Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 19: Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 20: Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 21:  Market condition - Five forces 2021

***5. Market Segmentation by Application                       

               **5.1 Market segments

                              *The segments covered in this chapter are:

  • *Lower extremity
  • *Upper extremity

                              *Exhibit 22:  Application - Market share 2021-2026 (%)

               **5.2 Comparison by Application             

                              *Exhibit 23:  Comparison by Application

               **5.3 Lower extremity - Market size and forecast 2021-2026       

                              *Exhibit 24:  Lower extremity - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 25:  Lower extremity - Year-over-year growth 2021-2026 (%)

               **5.4 Upper extremity - Market size and forecast 2021-2026       

                              *Exhibit 26:  Upper extremity - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 27:  Upper extremity - Year-over-year growth 2021-2026 (%)

               **5.5 Market opportunity by Application              

                              *Exhibit 28:  Market opportunity by Application

***6. Customer landscape                        

                              *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

               **6.1 Overview

                              *Exhibit 29:  Customer landscape

***7. Geographic Landscape                    

               **7.1 Geographic segmentation

                              *The regions covered in the report are:

  • *North America
  • *Europe
  • *Asia
  • *ROW

                              *Exhibit 30:  Market share by geography 2021-2026 (%)

               **7.2 Geographic comparison    

                              *Exhibit 31:  Geographic comparison

               **7.3 North America - Market size and forecast 2021-2026          

                              *Exhibit 32:  North America - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 33:  North America - Year-over-year growth 2021-2026 (%)

               **7.4 Europe - Market size and forecast 2021-2026         

                              *Exhibit 34:  Europe - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 35:  Europe - Year-over-year growth 2021-2026 (%)

               **7.5 Asia - Market size and forecast 2021-2026

                              *Exhibit 36:  Asia - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 37:  Asia - Year-over-year growth 2021-2026 (%)

               **7.6 ROW - Market size and forecast 2021-2026             

                              *Exhibit 38:  ROW - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 39:  ROW - Year-over-year growth 2021-2026 (%)

               **7.7 Key leading countries        

                              *Exhibit 40:  Key leading countries

               **7.8 Market opportunity by geography

                              *Exhibit 41:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                  

               **8.1 Market drivers      

                              *8.1.1 Increasing incidence of osteoporotic fractures

                              *8.1.2 Increasing incidence of sports injuries

                              *8.1.3 Usage in minimally invasive orthopedic surgeries

               **8.2 Market challenges              

                              *8.2.1 Complications associated with usage of splints

                              *8.2.2 Availability of over-the-counter (OTC) pain relief medication

                              *8.2.3 Lack of adequate healthcare infrastructure in developing countries

                              *Exhibit 42:  Impact of drivers and challenges

               **8.3 Market trends      

                              *8.3.1 Usage of splints for treatment of tetraplegic patients

                              *8.3.2 Growing demand for fiberglass splints

                              *8.3.3 Rising medical tourism

***9. Vendor Landscape                            

               **9.1 Overview

                              *Exhibit 43:  Vendor landscape

               **9.2 Landscape disruption         

                              *Exhibit 44:  Landscape disruption

                              *Exhibit 45:  Industry risks

***10. Vendor Analysis               

               **10.1 Vendors covered              

                              *Exhibit 46:  Vendors covered

               **10.2 Market positioning of vendors    

                              *Exhibit 47: Market positioning of vendors

               **10.3 3M Co.

                              *Exhibit 48:  3M Co. - Overview

                              *Exhibit 49:  3M Co. - Business segments

                              *Exhibit 50:  3M Co. - Key offerings

                              *Exhibit 51:  3M Co. - Segment focus

               **10.4 Breg Inc.

                              * Exhibit 52:  Breg Inc.  - Overview

                              *Exhibit 53:  Breg Inc.  - Product and service

                              *Exhibit 54:  Breg Inc.  - Key offerings

               **10.5 DARCO International Inc.              

                              *Exhibit 55:  DARCO International Inc. - Overview

                              *Exhibit 56:  DARCO International Inc. - Product and service

                              *Exhibit 57:  DARCO International Inc. - Key offerings

               **10.6 DeRoyal Industries Inc.   

                              *Exhibit 58:  DeRoyal Industries Inc. - Overview

                              *Exhibit 59:  DeRoyal Industries Inc. - Product and service

                              *Exhibit 60:  DeRoyal Industries Inc. - Key offerings

               **10.7 DJO Global Inc.  

                              *Exhibit 61:  DJO Global Inc. - Overview

                              *Exhibit 62:  DJO Global Inc. - Product and service

                              *Exhibit 63:  DJO Global Inc. - Key offerings

               **10.8 Dynatronics Corp.            

                              *Exhibit 64:  Dynatronics Corp. - Overview

                              *Exhibit 65:  Dynatronics Corp. - Business segments

                              *Exhibit 66:  Dynatronics Corp. - Key offerings

               **10.9 Essity Aktiebolag (publ)   

                              *Exhibit 67:  Essity Aktiebolag (publ) - Overview

                              *Exhibit 68:  Essity Aktiebolag (publ) - Business segments

                              *Exhibit 69:  Essity Aktiebolag (publ) - Key offerings

                              *Exhibit 70:  Essity Aktiebolag (publ) - Segment focus

               **10.10 medi GmbH and Co. KG

                              *Exhibit 71:  medi GmbH and Co. KG - Overview

                              *Exhibit 72:  medi GmbH and Co. KG - Product and service

                              *Exhibit 73:  medi GmbH and Co. KG - Key offerings

               **10.11 Stryker Corp.    

                              *Exhibit 74:  Stryker Corp. - Overview

                              *Exhibit 75:  Stryker Corp. - Business segments

                              *Exhibit 76:  Stryker Corp. - Key offerings

                              *Exhibit 77:  Stryker Corp. - Segment focus

               **10.12 Zimmer Biomet Holdings Inc.    

                              *Exhibit 78:  Zimmer Biomet Holdings Inc. - Overview

                              *Exhibit 79:  Zimmer Biomet Holdings Inc. - Business segments

                              *Exhibit 80:  Zimmer Biomet Holdings Inc. - Key offerings

                              *Exhibit 81:  Zimmer Biomet Holdings Inc. - Segment focus

***11. Appendix                           

               **11.1 Scope of the report         

                              *11.1.1 Market definition

                              *11.1.2 Objectives

                              *11.1.3 Notes and caveats

               **11.2 Currency conversion rates for US$            

                              *Exhibit 82:  Currency conversion rates for US$

               **11.3 Research Methodology   

                              *Exhibit 83:  Research Methodology

                              *Exhibit 84:  Validation techniques employed for market sizing

                              *Exhibit 85:  Information sources

               **11.4 List of abbreviations        

                              *Exhibit 86:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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