Global Orthopedic Splints Market Size (2024 - 2029)

Orthopedic Splints Market Analysis

The Orthopedic Splint Market is expected to register a CAGR of around 10.8% during the forecast period.

COVID-19 had a temporary negative impact on the market as the sudden onset of the pandemic resulted in canceling of many surgeries. The volume of orthopedic surgeries has significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. For instance, according to the article published in Cureus Journal in August 2021, the number of orthopedic surgeries fell by 22.8% during the first year of the pandemic. This led to a decrease in the demand for the orthopedic splint. Moreover, the market is gradually stabilizing as COVID-19 cases are declining to result in the return of the normal demand levels for an orthopedic splints.  

Factors such as the increasing number of musculoskeletal disorders, increasing bone fracture cases, and a rise in the geriatric population are expected to fuel the market growth over the forecast period. Physicians often suggest the use of orthopedic splints to treat muscular, or muscle-nerve diseases that cause pain. Individual differences in pain include intense pain, shocking pain, and pain that worsens with movement. Thus, the use of orthopedic splints can be beneficial in people who experience severe pain in the hip, knee, ankle, feet, and in back muscles. According to the WHO data updated in July 2022, musculoskeletal diseases (MSD) are the main cause of disability globally, that affected 1.71 billion people globally in 2021. Thus, the burden of MSD globally is expected to drive demand for orthopedic splints, contributing to the overall market growth.

Furthermore, the increase in the geriatric population is expected to be a significant contributor to the studied market. According to WHO data published in October 2021, between 2015 and 2050, the proportion of the world's population over 60 years is predicted to nearly double from 12% to 22%. In 2050, 80% of older people will be living in low- and middle-income countries. This target population is more prone to age-related MSD and fractures due to falls. Thus, it is expected to generate demand for orthopedic splints used for pain relief purposes.

Therefore, due to the factors mentioned above, the studied market is anticipated to witness growth during the forecast period. However, negligence of the target population toward minor injuries is predicted to hinder the market growth.

Orthopedic Splints Industry Segmentation

As per the report's scope, splints are medical devices used to immobilize damaged or injured bones to enhance the healing rate. The splints are considered non-circumferential devices. A splint can be used for certain fractures, soft tissue sprains or tendon injuries, or injuries awaiting orthopedic treatment. The Orthopedic Splint Market is Segmented by Product (Fiberglass Splints, Plaster Splints, Splinting Tools and Accessories, and Other Products), Application (Lower Extremity, Upper Extremity, and Spinal), End-user (Hospitals, Outpatient Centers, and Other End-users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.