ALBANY, N.Y.--(BUSINESS WIRE)--The global market for casting and splinting supplies and equipment is studied in a new research study published by Transparency Market Research. The report states that the market will tread along a modest growth path between 2014 and 2020 and rise to a valuation of US$2,304.9 million by 2020 as compared to US$1,634.1 million in 2013. During this period, the market will grow at a 5.0% CAGR. The report is titled “Casting and Splinting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”.
Casts and splints are used to mend fractured bones and repair soft tissues in cases of musculoskeletal injuries. Casts are used for the realignment and fusion of fractured bones and in some instances after certain orthopedic surgeries for the immobilization of bones or joints. Splints, also referred to as half casts, are more preferred for rehabilitation and in cases where adapting to the nature of inflammation and/or injury is necessary, since they offer an increased level of flexibility as compared to casts.
The market for casts and splints is observing increased demand from across the globe owing to the rising prevalence of musculoskeletal injuries in developed countries, trauma cases, and age-related orthopedic conditions among the huge population of geriatrics across the globe.
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Of the two key categories of equipment and supply types (casting and splinting) studied in the report, the market for casting equipment and supplies emerged as the market leader in terms of revenue generated in 2013. The regional market of Asia Pacific, which held nearly 35% of the overall casting and splinting market in 2013, is expected to be the fastest growing regional market over the report’s forecast period.
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Transparency Market Research (TMR) is a U.S. based market Intelligence Company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.