Orthopedic Splints Industry Overview
The global orthopedic splints market size was valued at USD 1.45 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028.
The rising cases of bone fracture and increasing geriatric population are expected to boost the market growth. Furthermore, a surge in the number of musculoskeletal disorders is also anticipated to boost the market growth. During the COVID-19 pandemic, the demand for orthopedic splints decreased owing to a decline in the number of bone fractures globally. The number of bone fracture cases decreased because of prolonged lockdowns in various countries globally. Market players also experienced a decline in their segment as well as overall revenues.
Gather more insights about the market drivers, restrains and growth of the Global Orthopedic Splints Market
For instance, Zimmer Biomet experienced an 8.5% decline in its S.E.T segment and Essity experienced a 9.9% decline in its medical solutions segment. This resulted in a decline in the 2020’s market size. According to National Center for Biotechnology Information, as of 2020, around 1.5 million individuals suffered from a fracture caused due to bone diseases. Also, the rising geriatric population is expected to lead to more such fractures, hence driving the product demand, which fuels the market growth.
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Orthopedic splints Market Segmentation
Grand View Research has segmented the global orthopedic splints market on the basis of product, application, end-user, and region:
Orthopedic Splints Product Outlook (Revenue, USD Million, 2016 – 2028)
- Tools & Accessories
Orthopedic Splints Application Outlook (Revenue, USD Million, 2016 – 2028)
- Lower Extremity
- Upper Extremity
Orthopedic Splints End-user Outlook (Revenue, USD Million, 2016 – 2028)
- Specialty Centers
Orthopedic Splints Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
Market Share Insights
- July 2021: Essity acquired ABIGO Medical, a Sweden-based medical solutions company. With this, Essity expanded its geographic presence as well as strengthened its product portfolio.
- November 2020: Stryker acquired Wright Medical, which strengthened its product offerings and position in a high-growth segment of lower extremity & biologics.
Key Companies profiled:
Some of the key companies in the global orthopedic splints market include:
- Otto Bock Healthcare
- DeRoyal Industries, Inc.
- Medi GmbH & Co. KG
- Zimmer Biomet
- United Medicare
- Sam Medical
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