June 25, 2021 10:00 ET | Source: Fior Markets Fior Markets
Newark, New Jersey, June 25, 2021 (Global News Agency)-According to a report released by Fior Markets, the global casting and plywood market is expected to grow from USD 2.67 billion in 2020 to USD 4.42 billion in 2028, a compound The annual growth rate is 6.5% during the forecast period 2021-2028.
In the past few years, due to recurring orthopedic, sports, and musculoskeletal injuries, the demand for castings and splints has increased. Older people are more likely to get injured. Therefore, the observed development of the elderly population is all-encompassing, and usually meets the market prospects correspondingly with the development of innovation, and manufacturers hope to use propellants to assemble castings and splints. Therefore, this is expected to promote market growth.
Casts and splints stabilize bone wounds and stimulate healing by supporting bone alignment, fixing damaged areas, reducing pain and helping to compensate for muscle weakness in surrounding areas. Casting devices involving orthopedic surgery, plaster or surgical molding are usually made of fiberglass/plaster and surround the limb to stabilize and support the structural anatomy until the wound heals. Splinting devices are deployed in multiple locations to provide support for the spine/extremities, including temporary support for fractured/damaged joints during any activity. By providing more effective fixation, casting is essential in most fractures. Splints offer several advantages over castings in terms of easier and faster application, and allow normal swelling during the early inflammatory phase of injury by avoiding pressure problems.
Advances in casting and casting materials, such as the use of fiberglass tape and polyester tape, provide high levels of ease of removal with cast saw blades, smooth lamination, improved X-ray transparency, and availability of attractive colors and patterns Patient compliance is expected to significantly boost the casting and splint market. In addition, this may hinder the growth of the casting and splint market to a certain extent.
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Major players operating in the global casting and splint market include Svenska Cellulosa Aktiebolaget (SCA), 3M Healthcare, Corflex Inc., Prime Medical Inc., Patterson Medical Holdings Inc., Bird & Cronin Inc., DeRoyal Industries, BSN Medical GmbH, AliMed, Stryker Corporation and Zimmer Biomet.
The microsphere segment of foundry supplies and equipment dominates and will occupy the largest market share of 54% in 2020. On the basis of type, the global foundry and splint market is segmented into splint supplies and equipment and foundry supplies and equipment. The foundry supplies and equipment sector dominates the market and will occupy the largest market share in 2020, reaching 54%. This growth is attributed to technological advancements, including the use of ergonomically designed vacuum incisors, which allow the splint to be easily removed without the need for a splint. Cause further damage and the blade can be adjusted according to the size of the splint.
The plaster of Paris segment dominates the market and will occupy 57% of the largest revenue share in 2020. According to the type of material, the global casting and plywood market is segmented into fiberglass, polyester, plaster of paris, polyethylene, etc. In 2020, the Paris Gypsum market segment will dominate the market and occupy the largest market share at 57%. This increase is attributed to the increasing incidence of musculoskeletal injuries.
The hospital sector dominates the market and will occupy the largest market share of 36.3% in 2020. On the basis of end users, the global casting and splinting market is subdivided into hospitals, orthopedic clinics, outpatient surgery centers, rehabilitation centers, etc. The hospital sector dominates the market and has the largest market share in 2020 at 36.3%. This increase was attributed to an increase in traffic accidents and other physical injuries. Providing well-trained practitioners in a hospital environment to perform many different procedures and opioid management will enhance the overall growth of the business.
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Regional segmentation of the casting and splint market
The global casting and splint market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America by region. The Asia-Pacific region has the largest market share in 2020 at 46%, due to the rising prevalence of the global elderly population, the increase in emergencies and road accidents, the increase in risk-taking and sports activities that cause severe musculoskeletal injuries, and the higher the region The technology used is driving the market. North America is also expected to experience rapid growth during the forecast period.
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About the report: Analyze the global casting and plywood market based on value (in billions of dollars). All market segments are analyzed on a global, regional and national basis. The research includes analysis of more than 30 countries in each market segment. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market. The research includes Porter's five forces model, attractiveness analysis, raw material analysis, and competitor's location grid analysis.
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