ID: MRFR/MED/1370-HCR | 110 Pages | Published By Kinjoll Dey on March 2023
The spinal traction market size is expected to reach USD 4,561.49 Million by 2030 at 8.51% CAGR during the forecast period 2022-2030. The need for spinal traction has increased due to the increasing incidence of lower back pain and illnesses of the spinal cord, as well as an ever-growing senior population. Growing birth defects across all age groups, especially due to changing lifestyles, has further fueled the market for spinal traction. Growing spending to upgrade medical facilities, particularly in developing nations, has increased demand for spinal traction. The market expansion is boosted by an increase in continuous research and development in the healthcare sector to enhance healthcare quality and create new, superior equipment to provide better diagnostic therapy. However, patients with osteoporosis and other types of cancer do not use spinal traction devices, limiting the market's growth. Contrarily, with advances in worldwide spinal traction devices using wireless sensor technology, a vast array of opportunities in the market for spinal traction await.
COVID-19 Impact Analysis
The coronavirus has spread over practically all developing nations worldwide. The public saw the COVID's effects, which significantly impacted the spinal traction business. The closure of hotels and restaurants signaled a significant economic loss. Quarantines and flight cancellations both happened. Businesses continue to use a variety of tactics and concentrate on managing key activities as the challenge continues on a worldwide scale. Revenues have been adversely impacted across sectors, industries, and all major and developing nations. The public was subject to harsh laws and regulations enforced by the government. There was a widespread lockdown or shutdown.
Spinal Traction Market Dynamics
Throughout the projection period, it is anticipated that rapid advancements in the healthcare industry, increased screening and awareness of spinal traction, and an increase in the geriatric population will support market growth for spinal traction. Additionally, the market for spinal tractions will experience a significant increase due to infantile spinal abnormalities and the rising occurrence of spinal cord injuries. Furthermore, given the growing prevalence of contemporary surgical techniques, the priorities of surgeons and patients may change shortly. The most recent technologies are also being used in various clinical trials. On the other hand, hospital networks that offer spinal traction are projected to be key players in the market's growth.
The number of spinal procedures has also dramatically increased due to the increasing prevalence of spine illnesses worldwide. Thus, the requirement for spinal traction grows. Additionally, the market is predicted to grow throughout the forecast period since more people are suffering from spinal fractures. The market is expected to be further stimulated during the forecast period by factors such as the gradual shift and rising demand for minimally invasive spinal surgeries, the quick adoption of biologics in spinal fusion, and a significant increase in the number of cervical and lumbar disc replacements.
Patients with back discomfort can benefit from traction, which is recognized to be a safe therapy with therapeutic effectiveness. The clinician must rely on empirical data and opinion because there aren't many studies in the literature that report obvious contraindications to traction. These contraindications include ligamentous instability, spinal infections like osteomyelitis or discitis, severe osteoporosis or osteopenia, primary bone or spinal cord and metastatic tumors, myelopathies, uncontrolled hypertension or vertebral basilar artery insufficiency (for cervical traction), the very young and the very old frail patients, and acute or subacute spinal fractures.
Innovative orthopedic implants and devices that give better care to patients with spinal illnesses have been introduced due to technological breakthroughs in the spinal traction sector. Orthopedic spine devices are likely to see an increase in demand as prominent manufacturers now put a greater emphasis on offering less invasive treatments and personalized implants. Additionally, breakthrough technologies and solutions for spinal operations have been made possible thanks to strategic partnerships between different manufacturers, which are expected to drive the market during the projected timeframe.
Spinal Traction Market Segmentation
The market segments of spinal traction, based on type, is manual spinal traction and mechanical spinal traction. Mechanical spinal traction dominated the market in 2021. Mechanical spinal traction releases spinal pressure and lessens joint, sprain, and spasm pain. Along with other back issues, it can also treat sciatica, degenerative disc disease, pinched nerves, and herniated discs. However, in 2021, manual spinal traction also showed considerable growth due to an increase in the number of neck pains and lower back pains.
The market segments of spinal traction, based on application, is slipped disc, bone spurs, degenerative disc disease, herniated discs, facet disease, sciatica, foramina stenosis, and pinched nerves. The spinal traction market growth was prominently high in the slipped disc sector. The key element driving the sector expansion is the increasing introduction and quick adoption of technologically sophisticated diagnostic medical devices. Additionally, in 2021, the facet disease witnessed considerable growth. The high recurrence rate of sciatica patients, which proves advantageous initially for the sciatica sector and encourages patients to attempt different interventions, is among the factors boosting sector growth.
Global Spinal Traction Market Share by Region, 2021 (%)
Spinal Traction Market Overview by Region
By region, the market of spinal traction has been categorized into Asia-Pacific, Europe, North America, and the Rest of the World. The fastest CAGR is anticipated for Asia-Pacific during the review period. The largest share of the market was in North America.
North America is anticipated to account for most of the highest share of the market for spinal traction in the coming years due to the high cost of healthcare. The growing popularity of spinal healing technology drives the market for spinal traction in North America. With the rising number of Americans experiencing lower back pain and other ailments related to the spine each year, the United States currently holds a dominant position in the North American market for spinal traction. Additionally, several industry participants are working to implement strategic plans supporting the spinal traction expansion market.
On the other hand, Asia-Pacific is anticipated to increase quickly due to the rapidly expanding healthcare industry in developing nations like China and India. Additionally, the significant unmet need for treatment choices in these nations will help drive the market for spinal traction expansion in the near term. Malaysia and other Southeast Asian countries are also anticipated to help the market grow. In Asia-Pacific, expanding health insurance coverage is also anticipated to fuel the market for spinal traction expansion. The government has announced revisions to the Medicare Benefits Schedule (MBS) items for spinal treatments that will give patients undergoing spinal surgery the proper reimbursement.
Spinal Traction Market Competitive Landscape
There are tier-1, tier-2, and local companies in the market. The market for spinal traction has a few significant competitors and is moderately competitive. For instance, in October 2021, Bioventus announced the completion of its acquisition of Misonix for an undisclosed sum. The acquisition will speed up the adoption of its recently introduced neXus platform for ultrasonic procedures like spinal decompression with the BoneScalpel, tumor ablation in the cranium with SonaStar, and tissue debridement in chronic wounds with SonicOne.
Prominent players in the spinal traction market research include Saunders Group, Inc., Scrip, Inc., BTL, Stoll Medizintechnik GmbH, Hill Laboratories Company, North American Medical (NAM) Corporation, Spinetronics, LLC, Dentsply International, Medtronic, Inc., SpineRx Technology, Spinal Designs International, Inc., CERT Health Sciences, LLC and VAX-D Medical Technologies, LLC.
Scope of Spinal Traction Market Report
Objectives of the Study
The study's objectives are outlined in five stages. They are as mentioned below:
Spinal Traction Market Forecast & Size:
To determine and evaluate the market size for the spinal traction is categorized by type, application, and devices by value (in US dollars). Additionally, to comprehend the need for and consumption of spinal traction generated by consumers in the market forecast between 2022 and 2030
Market Landscape and Trends:
To determine and infer the drivers, restraints, opportunities, and challenges in the spinal traction market growth
Market Influencing Factors:
To find out the factors which are impacting the spinal traction market size among the consumers
Impact of COVID-19:
To determine and understand the various factors involved in the market affected by the pandemic
To provide detailed information into the leading market players operating in the market. The company's financial performance during the last two to three years will be described, along with product offers, recent developments, SWOT assessments, and significant business efforts.
|Market Size||2030: USD 4,561.49 Million|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Growth Factors, Competitive Landscape, and Trends|
|Segments Covered||Type, Application, and Devices|
|Geographies Covered||Europe, North America, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Saunders Group, Inc., Scrip, Inc., BTL, Stoll Medizintechnik GmbH, Hill Laboratories Company, North American Medical (NAM) Corporation, Spinetronics, LLC, Dentsply International, Medtronic, Inc., SpineRx Technology, Spinal Designs International, Inc., CERT Health Sciences, LLC and VAX-D Medical Technologies, LLC.|
|Key Market Opportunities||Launches of new products to promote the use of spinal traction|
|Key Market Drivers||Demand for spinal traction to increase as more people undergo spinal surgeries|
The spinal traction market forecast period is 2022 - 2030
A CAGR of ~8.51% is anticipated for the market in the upcoming ten years, according to the spinal traction market research.
Asia-Pacific is predicted to have the highest CAGR during 2022 - 2030
In 2021, North America accounted for the biggest proportion
The market size is expected to be USD 4,561.49 Million by 2030.
Saunders Group, Inc., Scrip, Inc., BTL, Stoll Medizintechnik GmbH, Hill Laboratories Company, North American Medical (NAM) Corporation, Spinetronics, LLC, Dentsply International, Medtronic, Inc., SpineRx Technology, Spinal Designs International, Inc., CERT Health Sciences, LLC and VAX-D Medical Technologies, LLC.are the largest businesses present on the world market.