CASTING AND SPLINTING PRODUCTS MARKETCasts and splints are orthopaedic devices used to immobilize injured bones or tissues. Cast completely covers the injured bone or tissue with a hard outer shell. Whereas Splint provides rigid support just along the sides of the injured part. Casts are made up of fibreglass or plaster which serves for the hard covering and cotton or similar soft material is used as a padding during casting. Fibreglass is more durable than plaster but plaster is relatively cheaper compared to fibreglass. Splints are made up of plaster, fibreglass,plastic,padded aluminium or any fabric. Often they are pre-made and provided with velcro straps for easy application and removal. As there is a rapid increase in orthopaedic, sports and muscoskeletal injuries , casts and splints have become valuable products for mankind.Casting and splinting market can be segmented on the basis of products . Casting products include plaster casts,casting tapes, cast cutters. Whereas splinting equipments include fibreglass splints,plaster splints,plastic splints and splinting accesories.Obesity and osteoporosis are some of the major reasons for the increase in demands of casts and splints. According to report by WHO in 2014, 6.9% adults were found to be obese in china and in India 4.9% adults were obese. Increase in sport injuries also increase the demand for casts and splints. According to a report by Centers for Disease Control and Prevention (CDC), over 2.6 million children below the age of 19 are treated in the emergency department for sports and recreation-related injuries. Serious bone injuries have also been reported among professional sportsmen as well as untrained people in sports which increases the demand for casts, and splints.Accidentalinjuries arre other factors which increase the demand. According to report by CDC in U.S., 2.5 million people were hospitalised due to injuries in 2014. Geographically the casts and splints market can be divided into North America, Europe, Latin America and Asia Pacific. North america dominates the market due to high frequency of people suffering from osteoarthriris and obesity. Also a higher value of the devices in north america makes it a bigger market. Asia pacific has a high growth rate for this market due to high rise in population. Indian casts and splints market comprisesof both domestic as well as international companies. Major international companies include Zimmer Biomet,Medtronic,Deput synthes,Smith and Nephew and Stryker. Main Domestic companies in this market include Meril, Sharma ortho,Biorad, TTK, S.H. Pitkar, Matrix Meditek and Inor.Despite the presence of large number of domestic companies this market is dominated by international companies as they offer premium quality and price and hence are preffered over the domestic companies by the physicians.Major growth drivers for the cast and splint industry include increasing cases of obesity, osteoporosis,arthritis among population, Increase in ageing population,Expansion of healthcare access in most of the countries, advancements in the procedures and emergence of newer materials for casts and splints.Major restraints for this industry include higher costs in some countries for the procedure, intense competition in the market, low spending on orthopaedics market by the government,etc.Thus we can conclude that due to increasing population, increasing cases of obesity,arthritis and osteoporosis, sports injuries, increasing accidents, the splints and casts market will be emerging market globally especially in the Asia Pacific region.
All Research Proposal
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