by on June 20, 2024
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The finger splint market comprises splint products that are utilized for immobilizing injured fingers. Finger splints provide protection, stability, and immobilization to injured fingers. Finger splints are made up of various materials such as thermoplastics, neoprene, and metal and are available in various sizes and designs. Finger splints find wide application in treating fractures, dislocations, sprains, and other injuries of finger joints and fingers. Increasing participation in sports and rising incidence of finger injuries are major factors boosting demand for finger splints.

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

Technological advancements in Finger Splint Market Size designs with improved comfort, rigidity, and applicability have enhanced the treatment outcomes. Players are developing lightweight, customizable, and breathable finger splints made of advanced materials to provide optimal immobilization. 3D printing technology is being leveraged to manufacture customized splints based on the injury site.

The growing participation in sports and rising incidence of sports injuries have boosted the demand for. According to statistics, sports injuries account for over 30 million injuries per year in the U.S. alone. The increasing risk of finger injuries during sports and other activities is a major factor driving the finger splint market.

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. These players are focusing on developing advanced splint products and expanding their geographic presence globally.

Market Trends

- Growing demand for custom-made 3D printed splints: Technological advancements are enabling customized 3D printing of splints based on the site of injury, which offers superior comfort and immobilization compared to standard splints.

- Multi-functional advanced splint designs: Players are developing multi-functional splints capable of immobilizing multiple finger joints or the thumb and finger combination in a single splint.

Market Opportunities

- Emerging economies in Asia Pacific and Latin America offer high growth potential for finger splint manufacturers due to rising healthcare investments and sports and outdoor recreational activities in these regions.

- Adoption of telehealth for splint customization: Virtual assessments and 3D scans of the injury sites can be leveraged by companies to remotely customize and fit splints through telehealth, ensuring convenience to patients.

Impact of COVID-19 on Finger Splint Market Growth

The COVID-19 pandemic has adversely impacted the growth of the global finger splint market. During the peak of the pandemic in 2020-2021, the market experienced a decline in growth due to lockdowns and social distancing measures imposed worldwide. This led to less number of sports and recreational activities where finger splints are commonly used, thereby reducing the demand. Hospitals and clinics also postponed non-emergency procedures involving finger injuries and fractures to focus on critical COVID-19 patients, hampering the sales of finger splints.

However, with mass vaccination drives and easing of restrictions from late 2021, the market has started recovering. As sports activities and physical participation among individuals have resumed post-pandemic, the demand for finger splints is increasing again. At the same time, healthcare facilities have also reopened for regular operations.

Market players are focusing on developing innovative lightweight, flexible and customized finger splint designs to offer maximum comfort to users. Telehealth is also emerging as an important medium to provide splint consultations and fittings to patients remotely. Manufacturers need to strengthen their online distribution channels and e-commerce platforms to drive sales. Emphasis on affordable pricing strategies can further aid the market in achieving pre-pandemic growth levels over the forecast period.

North America Finger Splint Market

The North America region holds the largest share of the global finger splint market in terms of value. This can be primarily attributed to the high prevalence of sports injuries and fractures in the region coupled with easy availability and affordability of advanced splint products. The United States dominates the North American as well as global finger splint market with the highest number of sports-related finger procedures annually.

Factors such as presence of major players, strong healthcare infrastructure, favorable reimbursement policies, rising healthcare spending and awareness among individuals have been driving the demand for finger splints in North America. The growing participation in sports and fitness activities indicates immense potential for market growth over the coming years. Innovation and new product launches catering to specific medical needs will further aid in market expansion.

Asia Pacific Finger Splint Market

The Asia Pacific region has been witnessed as the fastest growing market for finger splints globally. Rapidly developing economies like China and India are experiencing rising incomes, improved access to insurance coverage and modern healthcare facilities. This has positively influenced the demand for high-quality finger splints from both individual consumers and medical institutions.

At the same time, the involvement of Asian countries in international sports competitions and domestic leagues is leading to more sports injuries requiring splinting and immobilization procedures. Increasing health awareness, active lifestyles and participation in recreational activities among the urban population have augmented the adoption of finger splints.

Major market players are targeting countries like Japan, South Korea, Australia and Southeast Asian nations through strategic partnerships and joint ventures to leverage future opportunities. The presence of low-cost product manufacturers also ensures wider accessibility and affordability of finger splints. All these factors will continue to fuel strong market growth rates in Asia Pacific over the next decade.

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