Dynamic Wrist Splint Market Size, Share, Growth and Industry Analysis, By Type (Adult Dynamic Wrist Splints Children's Dynamic Wrist Splints), By Application (Nursing Home, Hospitals, Home use, Others), and Regional Insights and Forecast to 2032

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DYNAMIC WRIST SPLINT MARKET OVERVIEW

The global Dynamic Wrist Splint market size was valued at approximately USD 5.7 billion in 2023 and is expected to reach USD 9.1 billion by 2032, growing at a compound annual growth rate (CAGR) of about 5.5% from 2023 to 2032

The market for wrist splints is highly saturated, and further growth is characteristic of a fast pace, and the further projections are also promising up to 2029. The factors that are driving this market include the rising incidences of wrist injuries and those ailments that require dynamic wrist support; and the technical progress in the field of medicine. Players such as JAS, Roldan, and Len joy Medical Engineering co-operate in controlling the market that offers superior products in the form of products for adults and children’s products for health care purposes in different facilities.

The market is globalized as the key consumption areas are in North America, Europe and the Asia-Pacific region. Among the regions, North America has a dominant position in this fast-growing wrist splint market due to the higher development of health care facilities and increased awareness of wrist injuries. Europe and Asia-Pacific regions come next for the same reason, though China is on the rise because of its massive healthcare expenditure coupled with the rising need for Orthopedic devices. The performance of the market also has positive drivers such as the increasing population of the elder people and increase in the occurrence of sports injuries.

COVID19 IMPACT

"The outbreak of COVID-19 had negative impacts on the delivery of health care globally."

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The outbreak of COVID-19 had a major influence of the dynamic wrist splint market. On one side, the market was not ready because many non-urgent obligatory operations such as orthopedic surgeries were rescheduled or completed partly, which caused a temporary low demand for dynamic wrist splints. Also, various markets were closed down, thus affecting the production and transportation of these healthcare instruments and equipment. On the other hand, due to the pandemic keeping patients at home was a common occurrence and dynamic wrist splints were also useful in cases where a patient was recovering at home after an injury or surgery. Continued developments in the fields of telemedicine or remote consulting are added stress to self-managed care products such as wrist splints, therefore unlocking new opportunities in the rapidly evolving dynamic wrist splint market.

LATEST TRENDS

"Rising installments of technologically advanced orthopedic devices to foster the dynamic wrist splint market growth "

The current development of the wrist splint market is experiencing growth steep in technology, especially for smart sensors and sophisticated material to accommodate the patients’ comfort and effectiveness of the wrist splint. Advancements in 3D printing technology are also currently being observed in the production of custom wrist splint which can serve as solution to different patents. Overall, these trends are likely to lead to the expansion of the market by satisfying the new requirements of both hospital consumers and individual clients.

DYNAMIC WRIST SPLINT MARKET SEGMENTATION

By Type

• Adult Dynamic Wrist Splints: These are intended for adults, that is individuals with carpal tunnel syndrome, arthritis, and post-surgical clients. Heavy demand in this segment is exhibited by the aging population and higher incidences of these diseases.

• Children's Dynamic Wrist Splints: These splints address the purpose of pediatric patient mostly in cases of birth defects or acute injury in children. Tests and improvements that are made by the segment includes comfort and modularity for the growing children.

By Application

• Nursing Homes: The dynamic wrist splints are used in the” nursing home setting” for elderly patient with chronic wrist disorder or any wrist injury or post-wrist injury rehabilitation helps to improve the mobility of wrist joints of the elderly patient and give them comfort from pain.

• Hospitals: Inpatient and outpatients’ services avail dynamic wrist splints in various specialty, that primary includes orthopedic and trauma realms considering the need for support and management soon after admission to the hospitals.

• Home Use: There is higher usage of dynamic wrist splints at home and more so in the wake of post Covid-19 whereby more patients prefer to manage wrist conditions at home.

• Others: This category comprises rehabilitation centres, sports clinics, and other health facilities within which dynamic wrist splints are indispensably useful for the patients.

DRIVING FACTORS

"Wrist injuries and disorders are becoming more common and increasing demand"

Increased prevalence rates of wrist injuries among the populations involved in sporting activities and the geriatric population is a key factor in the demanding dynamic wrist splint market. Painful conditions affecting the wrists such as Carpal Tunnel Syndrome, repetitive strain injury, arthritis amongst others is on the rise and static wrist splints are very helpful in management and prevention of these conditions. The general population is becoming more informed about these conditions and the approved usage of splints for early treatment The race to market new splints that are comfortable and effective for early intervention is also advancing as faster as possible.

"Current developments in orthopedic technology improving product portfolios"

Forces like miniaturization and evolution of lightweight and breathable fabrics together with the addition of smart technology features to dynamic wrist supports are the elements driving the market. These advances benefit the patients by increasing their compliance and results hence making dynamic wrist splint more attractive to both the providers and user. Another factor that allows expanding the market of splints is the possibility of adjusting the product with the help of 3D printing.

RESTRAINING FACTOR

"Expenses make on superior dynamic wrist splint slows down the expansion of actual wrist splint market"

Market expansion is fuelled by the development of dynamic wrist splint; however, these new products entail high costs, which constitute a major problem. Some of these advanced splints might be expensive, which patient, especially those in developing nations, cannot afford hence reducing usability. This cost consideration is one of the ways by which the total market growth is limited.

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DYNAMIC WRIST SPLINT MARKET REGIONAL INSIGHTS

"North America Region Influencing the market due to Progressive healthcare structure, developed occurrence of wrist situations, Rising consciousness and acceptance "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

There is a major difference by region, and the North American market for dynamic wrist splints market share is ahead, since people here are more aware of wrist injuries and there is a strong healthcare system. Europe comes second, due to the improvement in the medical industry and an increase in the geriatric population. The Asia-Pacific region especially China and India is projected to grow at a fast pace due to the rising healthcare expenditure and growing orthopedic disorders awareness. Latin America, the Middle East, and Africa these regions although presently small but will experience growth as healthcare facilities enhance and the demand for the medical devices rises.

KEY INDUSTRY PLAYERS

Today’s WLAN market is quite saturated and intense with competition, and the key players being more innovative, qualitative, and expansionary. Currently, there are many companies, including JAS, Rolyan, and Lenjoy Medical Engineering, which produce and dominate the market of a large number of dynamic wrist splints to address various patients’ needs. Other such companies are DEROYAL, North Coast Medical, etc that have proper distribution channels and key buyers to bring them to the global arena. This has rendered competition as a concept to be more of a race to the top where the producers of these products are more focused on the development of better products with newer technologies. The existence of large and small players and constantly progressing market environment also has a positive influence.

List of Dynamic Wrist Splint Companies

• JAS (U.S)
• Rolyan (U.S)
• Lenjoy Medical Engineering (China)
• DEROYAL (U.S)
• North Coast Medical (U.S)
• BECKER (U.S)
• ALIMED (U.S)
• Brace Ability (U.S)
• Dyna (India)
• Ambroise (Netherlands)
• Salo Orthotics (United States)
• Oppenheimer (United States)

INDUSTRIAL DEVELOPEMENT

June 2022: The demand and variants for wrist splint have immensely experienced remarkable industrial growth having a strong emphasis on dynamism and growth. Rising interest is being observed in research and development to launch new products to meet the patient and healthcare professionals’ demands. Another element that has been increasing in recent years is the number of strategic collaborations and partnerships to accelerate the companies’ internationalization process and diversify their portfolios. Also, the implementation of superior production techniques and technologies for manufacturing like 3D Printing is allowing the customization of splint thus contributing to market growth.

REPORT COVERAGE

This report is a comprehensive one on the dynamic wrist splint market which gives details information about the market along with the product type, application, and consumption by region. It contains the share information of the market from the year 2018 to 2022 to understand the changes that have occurred in the market. This forecast based from 2023-2029 offers a long-term outlook for the industry to aid the stakeholders in how the market might be in the future.

This report also covers the strategies of the main competitors and key players in the global and growing specialty segment of wrist splint. It entails a comprehensive assessment of market prospects and threats and this puts the reader in a position to make the right decisions. Nonetheless, due to its general approach, it and becomes an informative reference for manufacturers, investors and other interested parties in the innovative wrist splint market.