Cast Removal Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 15, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 176.2 million |
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Revenue Forecast in 2030 |
US$ 268.69 million |
|
CAGR |
4.8% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Saw Type, Application, End-user, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global cast removal devices market was valued at US$ 176.2 million in 2021 and is expected to register a revenue CAGR of 4.8% to reach US$ 268.69 million by 2030.
Cast Removal Devices Market Fundamentals
In therapeutic settings, hard plaster or fiberglass casts are commonly used to immobilize appendages or larger body parts and help in the bone healing process. Casts act as a supporting device to maintain the bone in the required position for a while, thus, simultaneously increasing the healing process of the fractured bones. Casts are most commonly used in long bone fractures, which occur more frequently in adolescent and elderly patients.
The cast removal devices work on the principle of the oscillating power tool to remove the orthopedic cast. The cast removal instruments, especially casting saw instrument blades, are made of various materials, such as iron nitride, stainless steel, and titanium nitride. These equipment are safe to use and avoid any cuts or damage to the patient’s skin upon contact. These devices provide features, such as great durability, excellent cutting performance, and ease of use. To remove the cast or plaster, different types of cast removal devices, such as electric cast saws, pneumatic-powered cast saws, and battery-powered cast saws, are used depending on the materials used for casting.
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Cast Removal Devices Market Dynamics
The global cast removal devices market is estimated to depict steady revenue growth during the forecast period owing to rising cases of road accidents, causing non-fatal injuries. The growing need for casting and rising concerns about osteoporosis among the population are the primary factors responsible for the revenue growth of the cast removal devices market. For instance, according to the International Osteoporosis Foundation report, approximately 32 million individuals were suffering from osteoporosis in the age group of 50 and above across Europe (including Switzerland and the U.K.). These recorded numbers are equivalent to 5.6% of the total European population (of the age group 50+), of which nearly 25.5 million were women and 6.5 million were men.
The rising number of orthopedic hospitals due to consistently increasing cases of fractures also assists in the revenue growth of the cast removal devices market. Increasing treatment rates for bone-related diseases/disorders, such as bone cancer, bone density, bone infections, osteonecrosis, and osteoporosis, further fuels market development. Moreover, growing research activities with the continuous launch of novel products due to ongoing studies on the advancement of the technologies also greatly influence the sales of cast removal devices in the global market.
The cast removal devices market faces certain restraints that could impact its revenue growth to some extent. Some of such challenges include the lack of skilled personnel and low adoption rates in remote areas, stringent regulations restraining rapid approvals, and the high cost of novel devices.
Cast Removal Devices Market Ecosystem
The global cast removal devices market has been analyzed from three perspectives: saw type, application, end-user, and region.
Cast Removal Devices Market by Saw Type
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Based on saw type, the global cast removal devices market has been segmented into electric cast saws, pneumatic-powered cast saws, and battery-powered cast saws.
The battery-operated or battery-powered cast saw segment dominates the market with the largest revenue share. Due to the recent technological advancements offering advantages, such as display of optimum speed required for the procedure, device activation after applying pressure, and lesser weight compared to the traditional devices, the demand for battery-powered saw devices is expected to increase, fueling revenue growth in the segment. Additionally, compared to electric cast saws, which use an alternating current power source and are less mobile, battery-powered cast saws are more mobile and safer. Furthermore, certain kinds of electric-driven cast saws have the capability of sucking in any debris that falls off during cast cutting. Pneumatic-powered cast saws use compressed air to move its blade and are less expensive than other models. Furthermore, cast saws are a fairly popular instrument widely accessible in the market. Hospitals, veterinary clinics, paramedics, and other similar institutions extensively use this technology.
Cast Removal Devices Market by Application
Based on application, the global cast removal devices market has been segmented into plaster of Paris (POP) cast removal and fiberglass casting tape removal.
The fiberglass casting tape removal segment registered the largest revenue share in 2021 and is estimated to show dominance during the forecast period. The leading position of this segment is attributed to fiberglass casts becoming more popular as an alternative to traditional plaster of Paris casts, owing to greater convenience and outcomes. Fiberglass casts are widely used in post-surgical recuperation, treating fractures, and other conditions that necessitate immobilization. The advantages of fiberglass casts, such as lightweight and easier application, as well as the disadvantages associated with using POP casts, such as excessive weight, prolonged drying time, and messy application process, are expected to fuel the demand for fiberglass casts during the forecast period.
However, there shall be a sustained demand for POP cast applications. The steady growth of the plaster of Paris (POP) cast removal segment can be attributed to various advantages provided by this type of material, such as cost-effectiveness, large availability, ease in molding procedures, and strong material for the casting process. Additionally, it is permeable to radiography and air, allowing the skin to breathe after casting. Thus, these factors are responsible for the revenue growth of the plaster of Paris (POP) cast removal segment, thereby bolstering the overall market growth.
Cast Removal Devices Market by End-user
In terms of the end-user, the global cast removal devices market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, and others.
The orthopedic clinics segment accounts for the largest revenue share in the global cast removal devices market due to the growing number of orthopedic clinics. Additionally, continuously increasing fractures and osteoporosis cases further contribute to this segment’s revenue growth, thereby bolstering the overall development of the cast removal devices market.
The hospitals segment is expected to show substantial revenue growth during the forecast period due to the high preference rate among the patient population. Additionally, hospitals also provide better healthcare service with a high percentage of patient satisfaction for the facilities and results, thereby increasing the demand for hospitals and contributing to the revenue growth of the overall market.
Cast Removal Devices Market by Region
Based on region, the global cast removal devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America is the largest revenue shareholder in the global cast removal devices market. The rapid growth of the cast removal devices market in this region can be majorly attributed to the local producers and a high frequency of traffic injuries. According to the Association for Safe International Road Travel, 2.35 million persons were wounded or handicapped in road crashes in the United States in 2016. Additionally, the rapid adoption of novel technologies and the availability of large healthcare expenditures also contribute to the revenue growth of the cast removal devices market in North America. Furthermore, the large population base for aged people and increase in osteoporosis cases also contribute to the market revenue growth in this region.
Cast Removal Devices Market Competitive Landscape
The prominent players operating in the global cast removal devices market are:
Cast Removal Devices Market Strategic Developments
The global cast removal devices market is expected to register growth at a revenue CAGR of 4.8% during the forecast period from 2022 to 2030.
The global cast removal devices market was valued at US$ 176.2 million in 2021.
The lack of skilled personnel, low adoption rates in remote areas, stringent regulations restraining rapid approvals, and the high cost of novel devices are restraining the market revenue growth.
The battery-operated cast saw segment dominated the global cast removal devices market in 2021.
The growing prevalence of osteoporosis and rapidly increasing road accident incidences are responsible for the revenue growth of the global cast removal devices market.
*Insights on financial performance are subject to the availability of information in the public domain