Finger Splint Market Growth & Trends
The global finger splint market size is expected to reach USD 616.5 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.6% from 2021 to 2028.The growing elderly population, coupled with the associated incidence of finger fractures and arthritis, is expected to drive the demand for fracture management products, such as finger splints, during the forecast period. Moreover, increasing awareness about different fracture management products and the easy availability of these products across the globe are expected to propel the product demand over the forecast period.
The thumb spica splint segment captured the largest share of more than 40.0% in 2020 and is expected to expand at the highest CAGR over the forecast period. Thumb spica splint manufacturers are focusing on technologically advancing their products to provide quicker and better healing results. Moreover, finger splint is witnessing high demand from hospitals and various orthopedic centers having specialized orthopedic departments.
Asia Pacific held the largest revenue share of over 30.0% in 2020. Finger splints have a comparatively higher penetration in western countries of Europe and North America as compared to the Asia Pacific region as the product is new to the Asian region, and consumers are getting aware of the benefits of the finger splint. Owing to these factors, Asia Pacific is anticipated to register the highest CAGR during the forecast period. Rising sports-related injuries and bone infections and increasing pathologic fractures among geriatric individuals are expected to drive the market over the forecast period.
Recent developments and innovations carried out by the leading players in the market significantly contribute to the market growth. Companies focus on enhancing their production capabilities through technology integration concerning production processes and sustainable raw materials.
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Finger Splint Market Report Highlights:
• Asia Pacific held the largest share of over 30.0% in 2020. China accounted for the largest share of 26.4% in 2020, followed by India and Japan. The growing product demand from countries, such as China and India, due to the growing incidence of fractures and finger-related disorders is expected to drive the market
• Europe is projected to register a CAGR of 5.5% from 2021 to 2028. Germany accounted for the largest share of 24.3% in 2020 in the European market, followed by the U.K.
• The plastic material segment held the largest share of more than 35.0% in 2020 and is expected to expand at the highest CAGR over the forecast period
• The online distribution channel is projected to register the highest growth rate of 6.6% over the forecast period. The growing popularity of such channels as a convenient shopping medium is expected to expand the scope of the segment
Finger Splint Market Segmentation
Grand View Research has segmented the global finger splint market on the basis of material, product, distribution channel, and region:
Finger Splint Material Outlook (Revenue, USD Million, 2017 - 2028)
Finger Splint Product Outlook (Revenue, USD Million, 2017 - 2028)
• Finger Extension
• Thumb Spica
Finger Splint Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Finger Splint Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
List of Key Players of Finger Splint Market
• Alimed, Inc.
• Tynor Orthotics Private Limited
• Zimmer Biomet
• Bird & Cronin Inc. (Dynatronics Corporation)
• DJO Global, Inc. (Colfax Corporation)
• DeRoyal Industries, Inc.
• ORFIT INDUSTRIES NV
• Silver Ring Splint
• Ortholife Global