Orthotic Devices, Casts and Splints Market

2020 Analysis and Review: Orthotic Devices, Casts and Splints Market by Distribution Channel – Institutional Sales, Retail Sales for 2020-2030

Orthotic Devices, Casts and Splints Market Outlook & Key Findings

  • Orthotic devices, casts and splints market likely to grow at ~4% in 2020
  • US continues to drive N. America’s position as the largest market for orthotic devices, casts and splints
  • Fiberglass casts and splints gaining traction in the US and Europe
  • Institutional sales to account for nearly 2/3rd of the market share in 2020

Use of Orthotic Devices, Casts and Splints in Injury Management a Key Market Driver

Orthotic devices, casts, and splints are a key management option for various types of injuries. The increase in number of injuries suffered due to road accidents, as well as during recreational and professional sporting events has remained a key market driver.

As per ASIRT (Association of System Integrators and Retailers in Technology), almost 50 million people get adversely affected by road accidents every single year globally, with US accounting for 4.4 Mn injuries due to road accidents.

As per the UN Economic and Social Council for Asia and the Pacific (ESCAP), Asia Pacific reported over 1 Mn life -changing injuries as of the year 2018.

The CARE (Community Database on Accidents on the Roads in Europe) database states that more than 1.4 Mn people were left with serious injuries in 2016 due to road accidents.

Also, per the AAOS (American Academy of Orthopedic Surgeons), over 25% of sports injuries concern lower extremities. The CDC states that close to 9.2 Mn children aged 1 to 19 get admitted to the emergency departments in the wake of sports injuries. Moreover, around 62% of sports injuries occur during practice than during actual games.

Covid-19 Crisis Impact - Declination in Orthotic Devices, Casts and Splints

Demand for orthotic devices, casts and splints has witnessed a drop in demand since the outbreak of Covid-19 as there has been a decline in hospital visits due to decrease in the number of road mishaps and sports activities.

The US alone witnessed 42% decline with regards to visits to emergency department between Apr 2019 and Apr 2020, out of which 26% decline was reported between Mar 2020 and Apr 2020, as per the Morbidity and Mortality Weekly Report from the U.S. Centers for Disease Control and Prevention. The outpatient visits have also declined by 60% post the outbreak of Covid-19.

Italy witnessed over 40% decline in the number of outpatients between Apr and May 2020.

As focus of healthcare providers shifts to emergency COVID-19 care, treatment for other ailments and injuries is de-prioritized. However, there is growing awareness that non COVID care needs to be offered concurrently.

Demand for orthotic devices, casts and splints may not return to pre-COVID levels in 2020 or first two quarters of 2021. However, with the prospects of vaccination being a potent defense, a solid recovery can’t be ruled out in the second half of 2021.

Orthotic Devices, Casts and Splits Market on to the Innovation Spree

Shortfalls in conventional manufacturing processes of orthotics implies that it could take ages for the patients to have the devices they require. As such, technological advancements are being focused upon. These advancements are likely to create a competitive edge for market players during the forecast period.

For instance –

  • In Mar 2019, UNYQ announced launching the UNYQ Socket (a 3D printed prosthetic leg socket) at BAPO (British Association of Prosthetics and Orthotists)
  • In Jan 2019, ActivArmor inked an agreement with Jacksonville Orthopaedic Institute for making the former’s 3D printed waterproof medical casts available to the teams like the Blue Wave, the Armada, the Sharks, and the Jaguars. Plus, the Line-X coating adds to versatility and durability
  • In Jan 2019, LimaCorporate, along with HSS, announced opening of 3D printing lab pertaining to custom orthopaedic implants in New York
  • Andiamo (a Medtech start-up) uses 3D printing and AI for making orthotic manufacturing all the more efficient. As such, it is serving 500 wearables to around 80 patients. The company has been implementing this since 2018

Lack of Trained Professionals in Rural Areas: A Key challenge

Inadequately trained medical attendants and nurses apply casts in rural areas. This could result in complications as discomfort on the part of patients could be higher.

This factor remains a challenge, especially in the developing economies as overcrowding of patients in city-based hospitals makes treatments difficult.

Proper training as well as guidance of the medical staff is likely to make the difference in the near future.

Orthotic Devices, Casts and Splints Market: Region-wise Analysis

  • North America and Europe collectively account for more than 60% of the market share
  • Asia Pacific expected to grow at the fastest pace, on account of strong demand from China and India
  • Latin America and MEA are not among the most lucrative markets, but situation can turn around during the assessment peroid

Leading Players in Orthotic Devices, Casts and Splints Market

Factors like continuous technological advancements, increase in the number of people suffering from orthopaedic ailments, sports injuries, and also the requirement for robot-assisted and minimally invasive techniques are offering substantial growth opportunities.

At the same time, product recalls have been rising due to incompetency on the part of medical practitioners in far flung areas. Plus, complications with orthopaedic surgery and implants are likely to restrain the market.

Though customized products are being provided, new entrants need to look into the core expertise asked for by the patients.

Some of the key players in the Orthotic Devices, Casts and Splints market are,

Americas

  • Fillauer LLC
  • ComfortFit Orthotic Labs Inc.
  • Hanger Inc
  • Amfit Inc.

Europe

  • BSN Medical
  • Össur Hf

Asia Pacific

  • Prime Medical
  • Ascent Meditech Ltd.

Key Segment

Product

  • Casting Supplies & Equipment
    • Plaster Casts
    • Casting Tapes
    • Cast Cutters
    • Casting Tools and Accessories
    •  Splinting Supplies & Equipment
    •  Fiberglass Splints
    •  Plaster Splints
    •  Other Splints
    •  Splinting Tools and Accessories
  •   Orthotics
    •  Functional Orthotics
    • Accommodative Orthotics

Distribution Channel

  • Institutional Sales
    • Hospitals
    • Orthopedic Clinics
    • Nursing Facilities
  • Retail Sales
    • Online Sales
    • Retail Pharmacies
    • Drug Stores

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa (MEA)

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