Finger Splint Market Anticipated to Witness High Growth Owing to Increasing Incidences of Finger Injuries
The global finger splint market is primarily driven by the increasing incidences of various finger injuries such as fractures, dislocation, sprains, etc. Finger splints are used for immobilizing the injured finger and protecting it from further damage during healing. They provide comfort, support, and alignment of the injured finger. Some key advantages of finger splints include easy application, adjustable fitting, breathability, and moisture absorption. With hectic lifestyles and increasing sports injuries, the demand for finger splints is growing steadily.
The Global finger splint market is estimated to be valued at US$ 285.5 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the finger splint market are 3M, BSN Medical, Patterson Medical, DJO Global, Zimmer Biomet, Stryker, Smith & Nephew, Mueller Sports Medicine, Brownmed, Össur, Mabis Healthcare, Acu-Life (Health Enterprises, Inc.), Alimed, DeRoyal Industries, Orfit Industries, Tynor Orthotics Private Limited, Sam Medical Products. 3M contributes over 20% share in the global market owing to its wide product portfolio and global presence.
The global finger splint market provides numerous growth opportunities such as expanding into developing regions, growing Finger Splint Market Demand from sports industry, and new product launches. Leading players are focusing on geographical expansion strategies through partnerships and acquisitions to strengthen their global presence.
North America accounts for the largest share in the finger splint market due to high awareness regarding finger injuries and supportive reimbursement policies. However, Asia Pacific is expected to exhibit fastest growth during the forecast period due to rising medical tourism, increasing healthcare spending, and growing geriatric population in China and India.
Market Drivers
• It is estimated that finger/hand injuries account for over 10% of all ER visits annually in the US. This increasing number of cases is directly driving the demand for Finger Splint Companies. increasing incidence of finger injuries due to accidents, fall, fractures, dislocations etc. is a major growth driver.
Market Restraints
• Availability of alternative treatment methods for finger injuries such as braces, bandages, etc. act as a restraint. These alternative low-cost treatment options reduce the demand for specialized finger splints to some extent.
Segment Analysis
Digital finger splints dominate the market as they are lightweight, waterproof, and effectively immobilize a finger. They are made of thermoplastic materials that can be heated and molded to fit an individual finger. This allows for customized support and better healing. Easy self-application and removal also make digital finger splints very convenient compared to traditional splints.
Global Analysis
North America accounts for the largest share of the finger splint market owing to high awareness levels regarding orthopedic devices and a growing elderly population susceptible to finger injuries. The region is expected to witness high demand due to new product launches and increasing adoption of innovative splint designs. Asia Pacific is emerging as the fastest growing regional market due to rapidly improving healthcare infrastructure and rising medical tourism. Growing middle class populations seeking quality treatments for sports injuries and work accidents are contributing to market expansion in countries like India and China.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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