Casting and Splinting Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2027

Market Size – USD 2,513.7 Million in 2019, Market Growth – CAGR of 6.1%, Market Trends – High demand from developing nations.

NEW YORK, NY, UNITED STATES, March 31, 2022 /EINPresswire.com/ — The global Casting and Splinting Market is forecasted to reach USD 4,052.0 Million by 2027, according to a new report by Reports and Data. Surging demand for casting and splinting products in various shapes & sizes expedites the growth of the casting and splinting market. These items provide the wounded component with added support and warmth, thus growing the need for casting and splinting. Besides, increasing accessibility of such goods with the obtainability of several raw materials, including polyethylene, polyester, and fiberglass, should foster demand for casting & splinting products.

Casts and splints are beneficial in immobilizing orthopedic wounds and stimulate healing by supporting bone alignment, reducing pain, secure the damaged area, and aid to compensate for muscular weakness in the vicinity. Casting devices comprising orthopedic, body, plaster, or surgical casting is often made of fiberglass/plaster, surrounding a limb to stabilize and upheld structural anatomy till the wound has healed. Splinting devices are deployed in several circumstances to provide support for spine/limb, comprising temporary support of possibly broken bones/damaged joints during any sort of activity. Casting is an essential procedure for the majority of the fractures by offering more effective immobilization. Splints deliver several benefits over casting in terms of easier and rapid application and letting for natural swelling at the time of the early inflammatory phase of the injury by averting pressure related concerns. The rising occurrence of on-road accidents and musculoskeletal injuries is also an essential factor in boosting the demand for casting and splinting.

The COVID-19 impact:

As the COVID-19 epidemic rises, producers are increasingly adapting their strategies and purchasing objectives to satisfy the demand of a pandemic that has decreased the requirement for Casts and Splints depending on the sector. A sequence of positive as well as negative shocks will arise over a few months as producers and their vendors adapt to changing customer demands. Many regions look vulnerable to export-dependent economies, with an unfortunate global situation. The impact of this pandemic is reshaping the global casting and splinting markets when certain manufacturers either close down or decrease their production due to a lack of downstream demand. While some have their production suspended by their governments as a precautionary measure by the respective nations to combat the spread of the virus, in other countries, when looking at the severity of the outbreak and the consequent behavior of the national authorities themselves, customers are centered on becoming more global. Market conditions in Asia Pacific regions have become very sophisticated in these cases, collapsing periodically and finding it impossible to stable themselves.

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Market Overview:

The pharmaceutical and healthcare sector is rapidly growing over the recent years and is expected to witness vast changes due to current coronavirus outbreak. Factors such as rapid developments in the healthcare and medical sector, improvements in the healthcare infrastructure and facilities, rising healthcare expenditure and increasing adoption of telemedicine and ambulatory care services are fueling market growth. In addition, increasing investments in research and development activities, increasing preference for personalized medicines and point of care diagnosis and home care settings. 

Competitive Landscape:

The global Casting and Splinting market is extremely competitive and consists of several market players operating at global and regional levels. Key players are focusing on adopting various strategies such as R&D investments product launches, mergers and acquisitions, partnerships to gain robust footing in the market and expand their product portfolio.

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Leading companies operating in the market and profiled in the report include:

Svenska Cellulosa Aktiebolaget (SCA), 3M Healthcare, Corflex Inc., Prime Medical Inc., Patterson Medical Holdings Inc., Bird & Cronin Inc., DeRoyal Industries, BSN Medical GmbH, and AliMed, among others.

Key questions addressed in the report:

What market size is the global Casting and Splinting market expected to reach over the forecast period?
Which factors are expected to hamper global market growth between 2021 and 2028?
Which key factors are expected to driver global Casting and Splinting market throughout the forecast period?
Which application segment is expected to register fastest revenue CAGR over the forecast period?
Which region is expected to register fastest revenue CAGR over the forecast period?
Which leading players are operating in the global Casting and Splinting market?
What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?

Global Casting and Splinting market segmentation:

Product Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

Castings
Plaster Casts
Casting Plates
Cast Cutters
Others
Splitting
Fiberglass Splints
Plaster Splints

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Material Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

Polyester
Polyethylene
Fiberglass
Plaster of Paris
Others

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

Hospitals
Clinics
Ambulatory Surgical Centers

Regional Outlook:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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