Orthotic Devices Casts and Splints Market Share

North American Market Forecast

North America industry is estimated to dominate majority revenue share of 36% by 2037. This can be accredited to the increasing geriatric population suffering from orthopedic problems along with rising incidents of spinal cord injuries in the region. According to statistics, there are approximately 17,000 new spinal cord injuries in the United States each year, with more than 47% of those injuries occurring in people between the ages of 16 and 30. Moreover, rapid product launches and the presence of leading suppliers for orthotic devices, casts, and splints are anticipated to boost the growth of the market in the coming years.

APAC Market Statistics

Further, the market in the Asia Pacific is estimated to gain significant growth during the forecast period, owing to the increasing incidence of road crashes and the growth of the old-age population in the region. According to the data, during the year 2020, there were about 3,66,000 road accidents in India, in which 1,31,000 people lost their lives and about 3,48,000 people were injured. Moreover, the increasing number of incidents of fractures owing to osteoarthritis in the older population is also estimated to boost the market growth in the region during the forecast period.