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Cast Saw Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 114 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4987025
UP TO OFF until Jun 30th 2023
The cast saw devices market is expected to register a CAGR of 4.2% over the forecast period.

The pandemic adversely impacted the growth of the market for cast saw devices. The majority of elective surgeries were canceled or postponed globally as a result of the outbreak and lockdowns. Due to this, a lower number of road accidents and associated injuries and fractures were observed. With that, in healthcare facilities, the treatment was shifted from orthopedic procedures to COVID-19 patients, which affected the market in the short term, particularly in specialty hospitals. About 6.3 million orthopedic surgeries were postponed or canceled worldwide due to COVID-19, as per the data published in the British Journal of Surgery in May 2020 by the University of Birmingham. However, the market is gaining traction in the post-pandemic phase as orthopedic procedures are reaching their pre-pandemic levels globally, there’s a surge in the number of sports injuries, and there's an increasing number of cases of trauma from accidents. For instance, according to the OCED data published in November 2022, the total number of knee replacement procedures performed in 2021 was 7,808 in Portugal, 6,572 in Norway, and 6,498 in Ireland, as compared to 5,081; 5,800; and 5,483 in 2020, respectively. Furthermore, as per the report published by Eltis, in June 2022, after COVID-19 limitations were withdrawn, the number of accidents resulting in injuries rose by 93% on weeknights and by 157% on weekends. Similarly, as per the road safety barometer from the Vias Institute, the number of road accidents and casualties during the first half of 2022 in Belgium was reported as 18,567 compared to 15,524 in 2021. Thus, as per the analysis, the number of fatalities and injuries from road accidents increased as compared to 2021, which is expected to have a positive impact on the cast saw devices market over the coming years.

The major factors attributing to the growth of the cast saw devices market are the increasing incidence of sports injuries, accidents, physical damages due to accidental falls with aging, and osteoporosis. For instance, according to the publication on Accident and Emergency (A&E) activity in English NHS hospitals and English NHS-commissioned activity in the independent sector in 2021-2022, the total A&E attendances were 24.4 million. That is an increase of 39.8% compared with 2020-21. Similarly, according to the WHO’s update of July 2022, approximately 1.71 billion people have musculoskeletal conditions worldwide. Such a high burden of musculoskeletal conditions results in increased musculoskeletal injuries, which in turn drives the growth of the market for cast saw devices. Similarly, unintentional injury accounted for 200,995 in 2020, according to CDC data, and the number of deaths due to traffic accidents in the United States was reported to be 40,698 in the same year. Such factors are altogether boosting the market demand for cast saw devices.

However, injuries associated with the use of cast saw devices, as well as the high cost of electric cast saw devices with vacuum, are expected to limit the growth of the cast saw devices market during the study's forecast period.

Cast Saw Devices Market Trends

Battery Operated Saw Devices are Expected to Hold the Largest Market Share in the Cast Saw Devices Market

Battery-operated saw devices are expected to account for the highest market share due to the rising adoption of these devices by healthcare providers owing to their technological advancements in recent years that offer advantages such as the display of the optimum speed required for the procedure, the activation of the device after applying pressure, a lesser weight compared to other types of devices, along with the wireless operation, which ensures more convenience to the user.

Furthermore, the rise in osteoporotic fractures and accidental fractures helps the battery-operated cast saw devices market segment grow. For instance, according to the International Osteoporosis Foundation's Key Statistics of Europe 2021, the estimated change in the annual number of osteoporotic fractures from 2019 to 2034 will be from 4.28 million fractures in 2019 to 5.34 million fractures in 2034, which is a rise of 24.8%. These fractures need proper management with a cast, which needs to be replaced at regular intervals. Thus, the increase in the prevalence of osteoporotic fractures will drive the demand for battery-operated cast saw devices over the forecast period.

Similarly, the increase in the geriatric population in the future will significantly impact the segment's growth as older people are more prone to accidental falls and have less bone density. For instance, according to WHO research published in October 2021, by the year 2030, one in six people on earth would be 60 years of age or older.

Thus, the aforementioned factors are expected to have a positive impact on the battery-operated cast saw devices segment, which drives the market's growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period.

North America is expected to dominate the overall cast saw devices market throughout the forecast period. The dominance is due to several factors, such as growing sports injuries coupled with the increasing geriatric population with osteoporosis in this region.

For instance, according to the Osteoporosis Canada 2022 update, over 2.3 million Canadians were affected by osteoporosis, out of which 80% of all fractures in people 50 and older are caused by osteoporosis. The United States holds the largest market share due to increased awareness of cast removal devices, rising healthcare expenditures, and the adoption of advanced healthcare infrastructure in the region, which propelled regional market revenue during the forecast period. Furthermore, new techniques in the removal of casts using cast saw devices increase the scope of the market. For instance, as per the study report published by the Journal of POSNA in August 2022, the new technique suggests perforating only the convex side of the cast using superficial partial-thickness scores and a large cast spreader, which lowers the risk of iatrogenic cast-related injuries by 50%. Hence, the implementation of new techniques in the cast removal process increases the scope of the market in the region.

Furthermore, Health Canada reported in April 2022 that over 861,000 people aged 85 and older were reported in 2021. The elderly population could increase to over 2.5 million people during the next 25 years (by 2046). Hence, the growing old age population in North America increases the demand for cast saw devices as old age are more prone to fractures and hence help in the growth of the market.

Thus, given the aforementioned factors, the cast saw devices market is predicted to grow over the forecast period in North America.

Cast Saw Devices Market Competitor Analysis

The cast saw devices market is moderately competitive and consists of several major players. A few of the major players currently dominating the market are making acquisitions with other companies to consolidate their market positions across the globe and increase the focus on innovation. Some of the companies that are currently dominating the market are OSCIMED SA, De Soutter Medical, Rimec S.r.l., Surtex Instruments Limited, Stryker, Essity Aktiebolag, Hanshin Medical Co. Ltd., Prime Medical Inc., and Shanghai Bojin Medical Instrument Co., Ltd.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Global Incidence of Sports Injuries and Rise in Burden of Osteoporosis
4.2.2 Rise in Preference for Minimally Invasive Procedures and Technological Advancement
4.3 Market Restraints
4.3.1 Injuries Associated with Usage of Cast Saw Devices
4.3.2 Highly Expensive Electric Cast Saw Devices with Vacuum
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Saw Type
5.1.1 Electric Saw
5.1.2 Battery Operated Saw
5.2 By Application
5.2.1 Plaster of Paris (POP) Cast Removal
5.2.2 Fiberglass Cast Removal
5.3 By End-User
5.3.1 Hospitals
5.3.2 Clinics
5.3.3 Ambulatory Surgery Centers
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 De Soutter Medical
6.1.2 Essity Aktiebolag
6.1.3 Hanshin Medical Co, Ltd
6.1.4 Shanghai Bojin Medical Instrument Co. Ltd
6.1.5 Medezine
6.1.7 Prime Medical Inc
6.1.8 Rimec S.r.l.
6.1.9 Surtex Instruments Limited
6.1.10 Stryker

Companies Mentioned

A selection of companies mentioned in this report includes:

  • De Soutter Medical
  • Essity Aktiebolag
  • Hanshin Medical Co, Ltd
  • Shanghai Bojin Medical Instrument Co.,Ltd
  • Medezine
  • Prime Medical Inc
  • Rimec S.r.l.
  • Surtex Instruments Limited
  • Stryker