Market Synopsis
According to a new report by Market
Research Future (MRFR), the global spinal traction devices market is
expected to reach USD 6.0 billion by the end of 2023. The market is envisaged
to witness a steady growth to expand at 7.7 % CAGR over the forecast period
(2017-2023) owing to the growing geriatric population. Spinal traction devices
are used to stabilize and decompress the spine for treating several spinal
disorders and orthopedic conditions like bone fractures, muscle contracture,
and bone deformities like kyphosis, scoliosis, and lordosis. These devices are
also used in treating low back pain and muscle spasms. Spinal traction devices
are also used to prepare patients for surgical procedures like interbody
fixation, endoscopic spine surgery, vertebral compression fracture repair, and
interspinous fixation.
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Future Drivers and Constraints
Increasing production number of spinal
surgery, implants, and ongoing researches for improving the quality of care are
expected to create attractive growth opportunities for the market globally.
With the increasing cases of trauma and spinal cord diseases, growing geriatric
population, increase in the number of spinal surgeries, screening and
awareness, and developing healthcare are some of the factors propelling the
market growth over the review period.
Also, the shift in the preference among
patients and surgeons for adopting minimally invasive (MI) surgery over
traditional surgeries have resulted in the development of advanced spinal
implants. The rising number of clinical trials of latest technology implants is
also propelling the market growth over the assessment period.
Innovation has remained the best
strategy with companies focusing on developing new devices which can offer
better treatment and diagnostic to various types of spine conditions. Wireless
sensor technology is one of the latest researches with advanced products
connected to external devices for analysis and healing progress.
Meanwhile, costly devices, lack of
experimental clinical data in medical treatment, risk related after surgery
which comprises risk of damage and infection to the spine, and demand for
minimally invasive procedures is assessed to hamper the growth of the market
over the forecast period.
Global Spinal Traction Market
Segmentation
The global market for spinal traction
has been segmented on the basis of diagnosis, type, treatment, end-users, and
region.
The market has been segmented into
mechanical spinal traction and manual spinal traction based on types. The
market has been segmented into herniated discs, sciatica, facet disease,
slipped discs, bone spurs, foraminal stenosis, pinched nerves, and degenerative
disc disease, based on applications. The market has been segmented into gravity-dependent
traction, manual traction, and continuous traction based on devices.
The market has also been segmented into
academic and research, hospitals and clinics, and others based on end-users.
Among these, the segment for hospital dominated the global market for spinal
traction and is predicted to maintain its dominance over the assessment period.
Regional Analysis
Geographically, the market for spinal
traction has been spanned across regions such as North America, the Middle East
and Africa, Europe, and Asia Pacific.
The North American region is
anticipated to hold the largest market share due to the high expenditure on
healthcare. Also, adoption of medical devices and new diagnostics in the U.S.
is also expected to drive the market in this region. Moreover, the presence of
large hospital networks and major healthcare companies in the developed
countries is propelling the market growth over the assessment period.
Europe holds the second largest
position after North America, owing to the penetration of strong healthcare and
high income in this region. Countries such as France and Germany are expected
to lead the market growth in the European region. The UK is anticipated to
emerge as the fastest growing market over the review period due to the presence
of strong pharmaceutical industry.
Asia Pacific is estimated to grow
rapidly over the assessment period. India and China are likely to lead the
market owing to the huge unmet requirement and fast-growing healthcare sector
over the assessment period. Moreover, South East Asian countries like India,
China, and Malaysia are estimated to contribute to the market growth. Also,
increasing penetration of healthcare insurance in the Asia Pacific region is
anticipated to spur the market growth in this region.
Moreover, the UAE and Saudi Arabia are
anticipated to drive the Middle East and African market. The African region is
expected to witness moderate growth due to poor political and economic
conditions.
Industry News
Natural compounds derived from
Australian plants have been found to stimulate cells and are useful for
transplantation to repair injuries in the spinal cord. The results have been
published in the Scientific Reports by a team of scientists recently at the
Menzies Health Institute Queensland and Griffith Institute for Drug Discovery.
Competition Analysis
The prominent players operating
the spinal traction market are Stoll Medizintechnik GmbH, Spinal Designs
International Inc., Saunders Group Inc., SpineRx Technology, VAX-D Medical
Technologies LLC., Scrip, Inc. BTL, North American Medical (NAM) Corporation,
Spinetronics, LLC, Dentsply International, Medtronic Inc., CERT Health Sciences
LLC, Hill Laboratories Company, and others.
FOR MORE DETAILS
– https://www.marketresearchfuture.com/reports/spinal-traction-market-1902
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