Market Synopsis
According to a new report by Market Research Future (MRFR), the global spinal traction 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 spinal traction 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.
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