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Finger Splint Market

Finger Splint Market

Finger Splint Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Finger Splint Market
FACT5778MR
  • Apr-2021
  • List of Tables : 170
  • List of Figures : 128
  • 170 Pages
  • Industrial Goods

About the Report

The global finger splint market is expected to expand at a CAGR of more than 7% over the next ten years, with demand for thumb spica finger splints surging across regions.

Global manufacturers having technical expertise and core competencies are looking to develop and manufacture splinting products to attract more customers. Moreover, the aging population across the world is a major driving force for the market. The geriatric population suffers from a large number of neurodegenerative, cardiovascular, and musculoskeletal disorders. With age, cartilages become susceptible to strains due to less water content, which requires splinting products.

Numerous research initiatives are being undertaken by various medical equipment manufacturing companies worldwide to develop splinting products that reduce sports injuries, give more comfort, and are lightweight, creating new opportunities for finger splint manufacturers.

Demand for or acceptance of advanced splinting products such as neoprene, polyester, or metal splints is increasing globally.

This new Fact.MR study provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape.

Presented in a clear, sanctioned manner, this report on the global finger splint market gives readers a comprehensive understanding of the overall market. The study discusses the underlying trends and impact of various factors that drive the market, along with their influence on the evolution of the market.

The study also offers Porter’s Five Force analysis, value chain analysis, key trend analysis, SWOT analysis, brand analysis, and consumer buying behaviour across region, in order to highlight the crucial growth tactics and opportunities for market players.

Historical Trends Vs. Future Market Projections

The report enables readers to make important decisions with regard to their business, through a wealth of information enclosed in the study. Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.

  • Short-run: The COVID-19 pandemic will hamper market growth due to the lack of supply of raw materials as a result of shutdowns across the world.
  • Medium-run: Demand for finger splints will gradually rise during this period from the sports industry, which will lead to sustainable market recovery.
  • Long-run: Economic cycles and inflation rates to affect demand and pricing of the product.

All in all, the market is set to expand at a high rate of over 7% CAGR through 2031, providing a promising stance for investors in this space.

finger splint market forecasts

Know More Details About the Report

What are the Indicators Expected to Drive Sales of Finger Splints?

The driving force for the market is the growing aging population, worldwide. Elderly people suffer from a large number of neurodegenerative, cardiovascular, and musculoskeletal disorders. With age, cartilages become susceptible to strain due to less water content, which requires splinting products. Demand for and acceptance of advanced splinting products such as neoprene, polyester, or metal splints is increasing globally.

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Which Region Offers Great Potential for Finger Splints?

Asia Pacific is expected to dominate the global market in terms of share as well as CAGR throughout the forecast years. According to the International Osteoporosis Foundation (IOF), Asia is expected to have 50% of the world’s osteoporotic population by 2050.

Large number of unreported cases, high incidence of vitamin D deficiency, and low calcium intake by the Asian population suggests that the region is likely to have the largest number of osteoporosis-related fractures globally, which will drive demand for robust finger splints over the coming years.

finger splint market region

An Adaptive Approach to Modern-day Research Needs

Category-wise Insights

Which Type of Finger Splint Accounts for Highest Demand?

Based on type, thumb spica splints are expected to remain dominant in the market. This is due to rising preference for leisure sports, physical activities/fitness, and aerobics across the globe. Thumb spica splints are mainly used to secure nonemergency injuries till they can be checked by a consultant, such as an orthopaedic surgeon. Most sports injuries happen on the thumb area, due to which, demand for thumb spica splints for finger injures is very high.

Which is the Most Dominant Material for Finger Splints?

On the basis of material, the market has been classified into aluminium, neoprene, plastic & thermoplastic, aluminium/foam, and others. Aluminium/foam held a majority share in 2018, and is projected to hold the same position based on revenue generation during the forecast years as well.

Aluminium/foam finger splints are sturdy, lightweight, foam-laminated aluminium splints that curve for appropriate immobilization. Plastic & thermoplastic and neoprene are projected to dominate the market in terms of CAGR, as the material is majorly used in thumb spica splints, which are highly demanded.

How Has COVID-19 Impacted Sales of Finger Splints?

COVID-19 has impacted the demand for finger extension splints, backed by the imposition of lockdowns and demand drop from the sports industry, which happens to be the prime consumer of finger splints.

Moreover, decreased demand and fluctuating industrial output have negatively impacted the market, which is extremely fragmented in nature. It is anticipated that industrial output will regain its previous pace by the third quarter of 2021, leading to an increase in finger splint demand during the forecast period.

Competitive Landscape

The aforementioned players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, collaboration with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.

Similarly, recent developments related to companies manufacturing finger splints have been tracked by the team at Fact.MR, and the data is available in the full report.

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Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Mexico
  • Venezuela
  • Germany
  • U.K.
  • Russia
  • BENELUX
  • China
  • Japan
  • India
  • GCC

Key Segments Covered

  • Type
  • Material
  • Distribution Channel
  • Price
  • Region

Key Companies Profiled

  • Alimed, Inc.
  • Tynor Orthotics Private Limited
  • Zimmer Biomet
  • Bird & Cronin Inc. (Dynatronics Corporation)
  • Corflex, Inc.
  • DJO Global, Inc. (Colfax Corporation)
  • DeRoyal Industries, Inc.
  • ORFIT INDUSTRIES NV
  • Silver Ring Splint
  • Ortholife Global

Key Market Segments Covered

  • Type

    • Frog Finger Splints
    • Finger Extension Splints
    • Finger Cot Splints
    • Thumb Spica Splints
    • Others
  • Material

    • Aluminium Finger Splints
    • Neoprene Finger Splints
    • Plastic and Thermoplastic Finger Splints
    • Foam Finger Splints
    • Others
  • Price

    • Under US$ 10 Finger Splints
    • US$ 10 - US$ 50 Finger Splints
    • Above US$ 50 Finger Splints
  • Distribution Channel

    • Offline Sales of Finger Splints
        • Medical stores
        • Sports Stores
        • Hypermarkets and Supermarkets
        • Other Retail Stores
      • Online Sales of Finger Splints
        • e-Commerce Websites
        • Company-owned websites
  • Region

    • North America
    • South America
    • Europe
    • Asia Pacific
    • Middle East & Africa

Finger Splint Market- Scope of Report

A recent study by Fact.MR on the finger splint market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of finger splints.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing finger splints, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of finger splints across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of finger splints during the forecast period. Price point comparison by region with global average price is also considered in the study.

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of volume (‘000 Units) and value (US$ Mn).

Market estimates at global and regional levels for finger splints are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global finger splint market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for finger splints has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of finger splints, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of finger splints has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

- FAQs -

Fact.MR projects the market to register a CAGR of over 7% across the 2021-2031 assessment period. Higher penetration in the sports industry will bolster demand over the coming years.

As per Fact.MR’s projections, the U.S. is expected to hold a pivotal role driving adoption of finger splints. Surge in demand from the sports industry is set to be observed across the country. There is also increasing demand for 3D printed finger

Some of the key players manufacturing finger splints are Alimed, Inc., Tynor Orthotics Private Limited, Zimmer Biomet, Bird & Cronin Inc. (Dynatronics Corporation), Corflex, Inc., DJO Global, Inc. (Colfax Corporation), DeRoyal Industries, Inc., ORF

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.