CASTING AND SPLINTING PRODUCTS MARKET ANALYSIS

Regional Analysis

On the basis of region, the casting and splinting market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. Asia Pacific accounted for the largest market share in 2016 due to high incidence of orthopedic injuries and road accidents in the region, which in turn, lead to high demand for casting and splinting products. Moreover, costs associated with manufacturing of casting and splinting products in this region is comparatively lower than that of other regions, in turn positioning the region as a major manufacturing hub. In 2013, according to WHO, the East Asia-Pacific region recorded over 153,000 fatalities from road accidents. This indicates an increasing demand for casting and splinting products, in turn, boosting growth of the market in the region.

North America continues to hold the second-largest market share in the casting and splinting products market during the forecast period, owing to increasing number of musculoskeletal injuries and fractures in this region. In 2014, according to an article published by EWI Works, 34% of all lost time claims were associated with sprain, strain, and tears of musculoskeletal tissue in the U.S.