Persistence Market Research
The immobilization products market is expected to register robust growth in the near future, thanks to rising number of accidents globally. The increased need for mobility, poor infrastructure in developing countries, and fast-paced life is worsening this trend. Moreover, safety mechanisms like helmets, implementation of law and order, and lack of personal sense of responsibility have also led to the growth of the immobilization products market. On the other hand, innovations like new forms of materials to build caskets, and advents like 3D printing are expected to propel the global immobilization products market to a new level.
Rising Penetration of Insurance to Emerge as a Major Positive
Earlier, many countries around the world witnessed a limited penetration of the insurance industry due to regulations and limited investment. However, various reimbursement mechanisms for dental health, beautification, and accidental coverage are aiding the growth of the immobilization products market. The invention of reusable caskets in the industry and new offering with wide array of variety is expected to aid the expansion of the global immobilization products market as well.
Rising Musculoskeletal Conditions to Emerge as a Boon
Increasing fast-paced life is leading to a worsening quality of health and added pressure for many. The sedentary lifestyle has also led to the rise of musculoskeletal conditions among young people as well. Moreover, the rising geriatric population around the world also suffers from various other bone related issues. The immobilization products help in healing, reduction in pain, and protect key bones from further damage as well. The necessity of these products for patients and growing application due to illnesses are likely to fuel growth of the immobilization products market in the near future.
Europe and North America are expected to emerge as major venues for growth globally. The regions are home to a large population of elderly. Additionally, the increased focus on healthcare and costs are expected to emerge as a boon for the growth of the global immobilization products market in the near future.
Immobilization is the limitation of movement, a process of holding a joint or bone in place with a splint, cast or brace. Immobilization is done to prevent an injured area from moving either during surgeries, operations or during healing period while it heals. Immobilization products restricts motion of the targeted body parts to heal.
Immobilization Products Market: Segmentation
Immobilization products market can be segmented on the basis of the type of products, age group, distribution channel, and regions:
Based on product type, the immobilization products market can be segmented as:
Immobilization products market can be segmented on the basis of different age groups:
Immobilization products market can be segmented on the basis of different distribution channels as:
Immobilization Products Market: Dynamics
Immobilization products market is primarily driven by a few key factors such as the increasing prevalence of musculoskeletal conditions, such as conditions affecting muscles, joints, bones, and other soft tissues. The market is likely to grow owing to the increasing usage of immobilization products by healthcare practitioners which is expected to fuel the growth of immobilization products market. The rising awareness of such products which aid in healing of individuals by restricting the movement is among the factors which would aid the growth of immobilization products market over the forecast years.
Immobilization products market, however, faces various challenges such as the high cost of patient comforting products which prevent the adoption of these products. Immobilization products market faces tremendous challenges due to the high number of manufacturers present in the market. Immobilization products market is not regularized owing to the usage of the products which brings in enormous number of players in the market which have high competition among themselves. Emerging economies such as China and India have high number of such players.
Immobilization Products Market: Region-wise Outlook
Based on geography, the immobilization products market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. At present, North America holds a leading position in the immobilization products market due to the increasing incidence of musculoskeletal disorders in the region which is followed by Europe. The major driving factors which have driven the growth of the immobilization products market in this region is technological advancement in finding innovative products, and presence of many players. Following North America, European countries are also anticipated to show steady growth in the immobilization products market. Asia Pacific is expected to grow at the fastest CAGR because of increasing number of domestic players which contribute towards the market and thus boosting the market growth of immobilization products market throughout the forecast period. The factors which would fuel the growth of immobilization products market in Asia-Pacific are various multinational companies are setting up their operations in this region and aiming to gain huge revenue share from emerging countries. Immobilization Products Market would evolve at a rapid rate across the regions. However, North America would maintain its position in the immobilization products market, though, we are anticipating emerging economies such India, China, Brazil, Russia to have the highest growth in immobilization products market.
Immobilization Products Market: Key Players
Immobilization products market holds a huge number of players operating in the segment for years with expertise and experience. Various companies are involved in the manufacturing of products which are utilized in the home healthcare, hospitals, and orthopedic clinics. Such companies are Bionix Radiation Therapy, Candor ApS., Qfix, AliMed, CIVCO Radiotherapy, 3M Health Care Ltd, Orfit Industries NV, Radiation Products Design, Inc., Ambu A/S among others. Immobilization products market has the presence of many regional players which have a huge market share in the emerging countries.
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