Finger Splint Market
Finger Splint Market By Type (Frog Splints, Finger Cot Splints, Thumb Spica Splints), By Material (Aluminium, Neoprene, Foam), By Type and Material (Frog Splints, Finger Extension Splints, Finger Cot Splints), By Distribution Channel (Online, Offline), By Price (Under US $10, US $10-US $50)- Global Market Insights 2021 to 2031
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.
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.
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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.
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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Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Key Market Segments Covered
- Frog Finger Splints
- Finger Extension Splints
- Finger Cot Splints
- Thumb Spica Splints
- Aluminium Finger Splints
- Neoprene Finger Splints
- Plastic and Thermoplastic Finger Splints
- Foam Finger Splints
- Under US$ 10 Finger Splints
- US$ 10 - US$ 50 Finger Splints
- Above US$ 50 Finger Splints
- 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
- Offline Sales of Finger Splints
- North America
- South America
- Asia Pacific
- Middle East & Africa
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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?
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