About Hip Splint
A hip splint most commonly refers to a splinting device that uses straps attaching over the hip as an anchor, a metal rod(s) to mimic normal bone stability and limb length, and a mechanical device to apply traction (used in an attempt to reduce pain, realign the limb, and minimize vascular and neurological complication) to the limb.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The international market is quite competitive and dispersed. Through subsidiaries and partnerships, market participants carry out strategic objectives such as product development and launches, distribution network expansion, and worldwide expansion. Mergers and acquisitions as well as portfolio diversification involve important stakeholders. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Hip Splint market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DJO Finance LLC (United States), Össur Hf (Iceland), Breg, Inc. (United States), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Reh4Mat (Poland), 3M Company (United States), Zimmer Biomet Holdings, Inc. (United States) and DeRoyal Industries, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Bird & Cronin, Inc. (United States), Becker Orthopedic (United States) and United Ortho (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hip Splint market by Type (Soft & Elastic, Hard & Rigid and Hinged), Application (Hospitals, Healthcare Centers and Clinics) and Region.
On the basis of geography, the market of Hip Splint has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Hip Splint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Adult will boost the Hip Splint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Launch of Variety of New Products
Market Growth Drivers:
Rising Number of Sports and Accident-Related Injuries and Increase the Prevalence of Orthopedic Diseases and Disorders
Challenges:
Lack of Awareness among Consumer
Restraints:
Limited Clinical Evidence to Support the Therapeutic Efficacy
Opportunities:
Increased Sales of Off-The-Shelf and Online Products and Promotion and Branding Initiatives Undertaken By Major Product Manufacturers
Market Leaders and their expansionary development strategies
In May 2022, Enovis Corporation an innovation-driven medical technology growth company, announced that its subsidiary, DJO, LLC, has acquired the assets of Outcome-Based Technologies, LLC. The move builds upon the DJO (now part of Enovis) legacy of bracing innovation, and specifically in the fast-growing hip bracing category. The acquisition of the EXCYABIR hip brace and the CryoKnee knee brace provides innovative bracing solutions to healthcare providers and patients
In October 2023, OrthoPediatrics Corp., a company focused exclusively on advancing the field of pediatric orthopedics, launched of the DF2 Brace as part of its expansion in the non-surgical business for treating kids with musculoskeletal injuries.
Key Target Audience
Hip Splint Manufacturers, Hip Splint Suppliers/Distributors, Raw Material Suppliers, Potential Investors and Healthcare Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.