APAC Cast and Splints Market: Introduction

APAC Cast and Splints Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 4.12% during the forecast period, i.e. 2017-2025. Casting refers to bone setting equipment commonly used for fractures having low complications. Casting are generally used for closed fractures, non-displaced fractures or often used when the fracture have been reduced. Splints are used during soft tissue injuries such as sprain, tendonitis, and joint dislocation or during complex bone fractures. Splints are generally used for open and displaced fractures or during surgery where large amount of swelling occurs.

Market Dynamics

Growing incidence of pathological fractures such as osteogenesis imperfect and osteoporosis, stands to be driving the demand for casts and splints market in this region. For instance, osteoporosis, considered to be one of the most common cause of pathological fracture is on a rise in countries such as China and India. For instance, according to International Osteoporosis Foundation, it was estimated that over 50 million people were found to be either osteoporotic or have low bone mass in India. Other than this, rising bone cancer cases in this part of the region is further expected to drive the market growth.

Segment Insights

In terms of materials, plaster casts are expected to be one of the major markets owing to its wide availability and low cost. However, fiberglass casts are expected to witness higher growth rate during the forecast period due to the factors such as being breathable, lightweight and offer higher durability.

The splints segment is anticipated to have significant growth over the projected period owing to its easy manufacturing, and ease to use. Furthermore, they can be easily loosened or tightened according to the need. These splints are widely available in different shapes and sizes. It can also be customized according to the patient’s need. However, it provides lesser support than cast thereby known as half cast. Thus, owing to which the demand for splints is lower than casts.

Regional Insights

Casting and splinting in APAC is expected to offer lucrative growth opportunity during the forecast period owing to rising incidences of pathological and traumatic fractures. Additionally, development of bone injuries due to ageing and rising obesity among the populous leading to decrease in bone density and resulting in fracture of bones is further driving the demand for casts and splints market over the forecast period. As per Association for Safe International Road Travel, approximately 1.17 million out of 1.3 million road accidents occur in Asia and Africa region. Furthermore, Asia is perceived to have approximately 50% of osteoporotic population of the world’s population by the end of 2050, as per International Osteoporotic Foundation. Additionally, there are wide number of unreported cases of accidents. Low intake of calcium by the people in Asia is expected to contribute significant revenue growth in the global market. Numerous companies in this region provide quality casts and splints which includes Utanco India, Tynor, Darco Medical India, Shaanxi Ansen Medical technology Development Co., Ltd., Beijing Jinwei Kangda medical Instrument Ltd., Shandong Zhushitang Medical devices Co., Ltd., Qingdo carong Import & Export Co., Ltd.,  Suzhou Sunmed Co., Ltd. Jining kanglida Medical technology Co., Ltd Jinan reloga medical Equipment Co., Ltd,  and several others.

Competitive Landscape

Focus on R&D is further expected to create new growth opportunities in this market. For instance, the Woodcast, a mouldable material made from sustainable wood chips and biodegradable plastic manufactured by Onbone Oy is under trail in New Zealand. Some of the key leading players in the market include 3M Company, Stryker Corporation, BSN Medical GMBH, Ossur H.F., and Prime Medical.