Market Challenges: High costs associated with splint treatment

The high costs associated with splint treatment can hamper the global finger splint market growth. Splint treatment involves both the cost of the splint itself as well as consultation and fitting charges from an orthopedic surgeon or physician. Finger splints can range anywhere from US$ 20 to US$ 100 per splint depending on the material used and complexity of design. A typical consultation with an orthopedic doctor to assess the injury, fit the splint properly and provide aftercare instructions can be US$ 100-300 without insurance in the U.S. alone. For many individuals and families globally, affording such out-of-pocket medical expenses for a finger injury, which may not be life-threatening, can be financially challenging. This is a major barrier to access timely splint treatment. According to the data published by World Bank in 2020, approximately 40% of the global population lacked access to essential healthcare services due to high out-of-pocket expenses. In low and middle-income countries like India, Indonesia, parts of Africa and Latin America, over 60-80% of healthcare costs are paid through direct payments from patients rather than insurance coverage.

Market Opportunities: Development of 3D printed and customizable splints

The development of 3D printed and customizable splints can offer a great opportunity for the global finger splint market. 3D printing technology allows splints to be precisely tailored to each individual patient's unique finger dimensions, shape, and injury. This level of customization was not possible before with traditional splint fabrication methods. 3D printed splints can be designed based on medical scans of the injured finger, ensuring a perfect fit that maximizes protection and comfort. The printing process also eliminates many production steps as compared to conventional splint-making, thus, reducing costs and manufacturing time. Splint that perfectly conforms to the natural contours of the finger is less likely to slip out of position or cause pressure points or irritation. This improves healing and facilitates a faster recovery. Precisely fitted splints also allow for a wider range of motion during rehabilitation exercises. The benefits of customized 3D printed splints could lead to their increased usage not just for acute finger injuries but also for conditions like arthritis where custom splints provide long-term comfort and support.