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Splints can be defined as the medical devices that help in maintaining a movable part in a position that is used to protect the damaged part. Additionally, they are useful in treating injuries such as fractures, soft tissues sprains, orthopedic injuries, tendons injuries, etc. that are boosting the growth of the market. Similarly, elbow splints are the clinical devices also known as supportive and corrective devices that are helpful in treating the injured elbow by placing it in an appropriate position to promote faster healing. Various significant functions performed by the elbow splints are pain reduction, support to injury, etc. which are triggering the growth of the market during the forecast period. Furthermore, they are also helpful in the movement of arms by providing support in daily works, help in rehabilitation associated with sports injuries, fractures, disjunction, and other major accidental. Therefore, they are also helpful in improving the quality of life which gets negatively influenced due to injuries with the work performance of individuals being affected. There are two types of splints - static and dynamic splint. Static splint uses inelastic components which include turnbuckles, gears, screws, etc. which help in adjusting tension and change the position of joint, whereas dynamic splint is a bilateral spring that helps in recovery time by allowing maximum movement of the joint.
Key Market Driver -
Rise in sports injuries related to orthopedics.
Key Market Restraint -
Rise in sports injuries among youngsters owing to increase in sports and extra circular activities, an increase in geriatric population, etc. are the major factors that are driving the growth of the market during the forecast period. According to the Center for disease control and prevention, it is anticipated that injury rate in high school sports is 2.44 injuries per 1,000 athletes whereas American sports injuries rate is estimated to be 4.36 per 1,000 athletes. Furthermore, the availability of wider options on e-commerce that helps in customer retention and satisfaction is also triggering the growth of the market in the near future. The manufacturers’ interest in the development of the product portfolio is also boosting the market growth. In addition to this, increased research and development activities oriented to faster recovery, pain reduction, and early treatment are positively influencing the growth of the market. The population suffering from various diseases such as fibromyalgia, arthritis, Parkinson's, rheumatoid lupus, and others are also positively influencing the market growth.
However, stringent regulations, lack of technology penetration, delay in adoption of developments, and lack of skilled people are hindering the market growth.
Globally, the Elbow Splints market is segmented on basis of product type, material, distribution channel, and region. Based on the type, the market is segmented into static splints and dynamic splints. Based on the material the market is segmented into elastic, plaster, aluminum, silicone, and others. Based on the distribution channel, the market is segmented into hospitals pharmacies, retail pharmacies, and online pharmacies.
Geographically, the Elbow Splints market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global the Elbow Splints market are Novamed, Conwell Medical Co., Ltd., Innovation Rehab LTD, Hanger, Inc., Fillauer LLC, BORT GmbH, DJO Global, Inc., and others.
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Geographically, the Elbow Splints market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America is dominating the market owing to rise in the number of sports injuries, huge investment in the healthcare industry, and the quick adoption of technology. For instance, it is estimated that bone fracture is second most contributor of the market in U.S accounting for 20% of population being injured during sports. Europe is the second-largest contributor to the market owing to an increase in health awareness, increased capita income expenditure, increased healthcare infrastructure. Asia Pacific is anticipated to experience vast growth in the market owing to rise in geriatric population, an increase in healthcare awareness, an increase in government initiatives towards the healthcare sector, and an increase in the number of research activities. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
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