Cast Removal Device Market – Global Opportunity Analysis, 2018- 2025
Cast removal devices are designed to cut cast material such as fiberglass, plastic or plaster and bandage that are used for rehabilitation of the fractured bones or ruptured tendons. It is mainly used by orthopedic surgeons in hospitals and clinics to cure musculoskeletal injuries caused due to road accidents and during sports practices. According to the U.S. Department of Health & Human Services report on January 2018, road traffic injuries are a huge economic burden on low and middle income economies and are estimated to cost US$ 518 billion globally. In many areas in the emerging economies, technology has still not found there roots to grow and people use home remedies such as securing with wooden sticks instead of casting plaster. The development of hospital facilities in these areas will drive growth of cast removal device market. In November 2016, Stryker Corporation, one of the world’s leading medical technology company, announced a multi-year collaboration with Indo UK Institute of Health’s (IUIH) Medicity Program to serve greater access to affordable services to patients in India, which will also help in propelling growth of cast removal device market.
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Cast Removal Device Market Driver
According to a survey published by the World Health Organization (WHO) in Jan, 2018, over 3,400 people die on the world’s roads every day and tens of millions of people are injured or disabled every year. Also, according to the John Hopkin’s Medicine, in the U.S., over 3.5 million children at the age of 14 and younger get hurt annually by playing sports or participating in recreational activities.
The upcoming 2030 Agenda for Sustainable Development adopted by world leaders aims at halving the global number of deaths and injuries from road traffic crashes by 2020. Moreover, from 2015-2019, the World Health Organization is collaborating with the Bloomberg Initiative for Global Road Safety (BIGRS) to reduce fatalities and injuries from road traffic crashes. Such forthcoming schemes of the governmental organizations will hinder growth of cast removal devices market, whereas people neglecting traffic rules or distracted driving because of alcohol and other abuse, unsafe road infrastructure, below mark vehicle quality, and many others factors are expected to propel the cast removal device market growth.
The strategies adopted by key market players to come up with innovative technologies such as noise free or debris free plaster cutters at affordable rates are lucrative opportunities for growth of the cast removal device market. Cast removal devices are scary and traumatic for most of the patients due to noise and blade rotation, however, OrthoPediatrics’s Quiet cast removal device was a major leap forward in technology in 2009. Shanghai Bojin Medical instrument Co., Ltd. aimed at coming up with products and solutions with reduced medical costs and lessening the financial burden of the patients. The companies also aims at providing after sales services to the end users, which will propel growth of cast removal devices market. Moreover, cast saws can produce thermal injury or abrasions during cast removal, compromising patient care and can result in litigation. The advancement for avoiding cast-saw burns will also enhance the growth of cast removal device market.
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Cast Removal Devices Market – Regional Analysis
The global cast removal market is regionally segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in cast removal device market due to local manufacturers and high incidence of road injuries. For instance, according to the Association for Safe International Road Travel, in 2016, 2.35 million people were injured or disabled every year due to road crash in the U.S. Asia Pacific is expected to be fastest growing market over the forecast period due to increasing prevalence of road accidents. For instance, according to the National Crime Records Bureau, the number of road accidents in 2008 was 415 thousands, which increased to 440 thousands by 2012 in India.
Cast Removal Devices Market – Competitors
The major players operating in the cast removal devices market include DeSoutter medical, Erbrich Instrumente GmbH, Ermis MedTech, Hanshin Medical Co.,ltd, HEBUmedical GmbH, Osimed medical, Rimec S.R.L., Shanghai Bojin Medical instrument Co., Ltd., Stryker, and TREU-Instrumente GmbH.
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