Global manufacturers having technical expertise are looking to develop and manufacture splinting products to attract more customers. The geriatric population suffers from a large number of cardiovascular, neurodegenerative, and musculoskeletal disorders. With age, cartilages become susceptible to strains due to content less water content, which requires splinting products. Demand for or acceptance of advanced splinting products includes polyester, neoprene, or metal splints is increasing globally. These are the major factors which help to drive the growth of the global finger splint market over the estimated period. The economic slowdown due to COVID 19 may impact the Individual and equipment market including the global finger splint market. The uncertain situation due to the coronavirus may affect the trend of the global finger splint market in the next few years. The global finger splint market is projected to expand with a considerable growth rate in the forecast period, 2022-2030.
Impact of Covid-19 pandemic on market
COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation's population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.
Market Dynamics: Global Finger Splint Market
Elderly people suffer from a large number of cardiovascular, neurodegenerative, and musculoskeletal disorders which results aging population worldwide is boosting the demand for finger splint over the forecast period.
However, lack of government as well as private insurance cover along with unfavourable reimbursement scenario in various nation such as India and Brazil is likely to restrain the growth of the global finger splint market over the forecast period.
The major players of the finger splint market have an opportunity to enhance their presence in developing economies attaining considerable market share through mergers and acquisitions with local players.
Market Segmentation: Global Finger Splint Market
The global finger splint market is segmented on the basis of type, material type, distribution-channel, and regions.
The global finger splint market is segmented based on product type as finger extension splints, frog splints, and thumb spica splints. Among product types, the thumb spica splints segment is estimated to hold the largest market share and maintain its dominant in the global finger splint market due to rising preference for leisure sports, aerobics, and physical fitness significantly across the globe.
Based on material type, the target market is segmented into plastic & thermoplastic, neoprene, foam, aluminium, and others. Aluminium held the majority of market share and is estimated to hold the same position based on revenue generation over the forecast period. In terms of CAGR growth rate, the plastic & thermoplastic segment of material type is projected to dominate the market as it is majorly used in thump spica splint.
Regional Overview: Global Finger Splint Market
In the region, the global Finger Splint market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is estimated to dominate in the global finger splint market during the forecast period. This region have 50% of the world’s osteoporotic population by 2050, and a large number of unreported cases, high incident of vitamin D deficiency and low calcium intake by the population of this region suggested that Asia Pacific is likely to have large number of osteoporosis-related fractures worldwide, which helps to propel the demand for robust figure splints over the coming years.
Competitive Landscape: Global Finger Splint Market
The key players operating in the global Finger Splint market include Alimed, Inc., Tynor Orthotics Private Limited, Zimmer Biomet, Bird & Cronin Inc. (Dynatronics Corporation), Corflex, Inc., DJO Global, Inc. (Colfax Corporation), DeRoyal Industries, Inc., ORFIT INDUSTRIES NV, Silver Ring Splint, Ortholife Global and other players. The significant efforts of market players are projected to accelerate the global finger splint market growth in the forecast period, 2022-2030.
Detailed Segmentation: Global Finger Splint Market
The base year for estimation
2022 – 2030
Revenue in USD Million & CAGR from 2022 – 2030
By Type – Finger Extension Splints, Frog Splints, Thumb Spica Splints, and Others.
By Material type – Plastic & Thermoplastic, Neoprene, Foam, Aluminium, Others.
By Distribution Channel – Online, and Offline
North America - U.S., Canada
Europe - Germany, UK, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America - Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028. For the purpose of this study, analyst has segmented the global Finger Splint market report based on the product, application, end-users, and region.
Global Finger Splint Market, By Type:
Finger Extension Splints
Thumb Spica Splints
Global Finger Splint Market, By Material type:
Plastic & Thermoplastic
Global Finger Splint Market, By Distribution Channel: