by The finger splint market is estimated to witness high growth owing to rising cases of sports injuries. Finger splints are commonly used in treating injuries to fingers such as fractures, dislocations, sprains, etc. The growing involvement of people in recreational and professional sports has led to a surge in finger injuries requiring immobilization using finger splints. Finger splints help align and stabilize the injured finger for proper healing. Common types of splints used are rigid splints made of plaster, plastic, fiberglass; and flexible splints made of neoprene, thermoplastic, breathable fabrics etc. These splints provide protection, stabilization and allow mobilization of adjacent joints.
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
The global expansion of the Finger Splint Market Size is supported by strategic collaborations and partnerships among international players, increasing exports from prominent manufacturers, and focus on emerging markets through tailored product offerings and supply chain management.
Key opportunities in the finger splint market include development of customizable and comfortable splint designs, introduction of splints made of lightweight and breathable materials, launch of digit splints suitable for different rehabilitation methods and protocols. Manufacturers are focusing on expanding availability of splint products across academia, sports medicine facilities, orthopedic clinics to cater to the growing demand.
Key players operating in the Finger Splint Market Size 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.
Market Drivers
The main driver propelling the growth of the finger splint market is the rising incidence of sports-related hand and finger injuries. According to statistics, finger fractures account for nearly 15-20% of all hand injuries reported during training or competitions. The high risk of finger sprains and dislocations in contact sports has contributed significantly to the demand for finger immobilizers. The increasing popularity of recreational activities such as biking, skiing, martial arts, etc. where finger injuries are common has further boosted market revenues.
PEST Analysis
Political: Regulations related medical devices and implants are playing significant role in finger splint market. New standards can impact market positively or negatively.
Economic: Spending on healthcare has been increasing globally. Rise in disposable incomes has positively influenced medical device spending including finger splints across regions.
Social: Growing cases of sports injuries, arthritis and other orthopedic conditions are major drivers. Increased awareness about such conditions and available treatment options is beneficial.
Technological: Developments in materials like carbon fiber, composites are allowing for lightweight finger splints. Some products come with locking mechanisms for secure fit. Digital designing and 3D printing is aiding customization.
Geographical Regions with High Market Value
North America accounts for lion’s share in value terms owing to favorable reimbursement policies, developed healthcare infrastructure and higher incidence rates of conditions requiring finger splints. Europe is second largest region driven by countries like Germany, UK and France.
Fastest Growing Region
Asia Pacific region is poised to witness strongest growth over forecast period supported by large patient pools, increasing medical tourism, rising healthcare spending of nations like China and India. Growing middle class demographics is positively impacting the demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
