ID: MRFR/MED/1370-HCR | February 2021 | Region: Global | 110 pages
The spinal traction market is expected to reach USD 6.0 billion by 2023 at a CAGR of ~ 7.7 % during the forecast period 2017-2023.
The devices used for spinal traction helps in decompressing and stabilizing the spine thus helps in the treatment of various spinal disorders or orthopedic conditions like muscle contracture, fracture of a bone, and various deformities associated with it like scoliosis, kyphosis, etc. these devices are used by doctors for the treatment of muscle spasm and the back pain of the lower part of the body. It makes the patient prepare oneself for surgical terms like endoscopic spine surgery, repair of vertebral compression, fixation of interspinal bones, etc. globally in the spinal traction market it was marked that the treatment is performed both manually as well as in a mechanical way. Spinal traction is used for the treatment of sciatica, pinched nerves, degenerative discs, and many other spinal conditions. The market scenario gave information about the structure of the market data and the developmental plans so carried out by the researchers. It signifies the product base analysis of the refurbished market.
COVID 19 ANALYSIS
The spread of the coronavirus has taken place in almost every developing country globally. When the government felt the impact of COVID, the countrywide lockdown was announced by him. The impact of the COVID was observed among the public which had a great impact on the spinal traction market. The huge economic loss was marked as the shutdown of restaurants and hotels took place. Flight cancellations and quarantines took place.
The government imposed strict rules and regulations among the public. Countrywide shutdown or lockdown was observed.
Drivers- spinal traction market size can be increased by geriatric population, rise in diseases of the spinal cord, expansion of screening and awareness about the spinal traction and development in the healthcare sector. The trauma of the spinal cord had increased the market size. Deformities of the spinal at an infant stage boosts up the spinal traction global market growth.
Opportunities- demand of expenditure for setting up of healthcare for perfect treatment has enhanced the opportunity of spinal traction market size. The presence of a large number of spinal companies and large hospital facilities in the developing regions steers up the growth. Revolution in the spinal traction global market traction promotes annual compound growth and gives a lucrative opportunity for expansion of this market size.
Challenges- the large cost of raw materials, price as per spinal traction market trends, and spinal traction industry analysis are the challenging factor of this market scenario during the spinal traction global market forecast period. The market competition faced due to the less or large supply of the products urges a challenging factor on the domestic or local tariffs during this market forecast period.
Cumulative growth- shifting as per the priority of patients and surgeons by adopting advanced surgical methods. Carrying out clinical trials by using the latest technology helps in the expansion of the spinal traction market growth. Spinal traction hospital forming chains play a holistic role in the cumulative growth of the market. Natural compounds have been extracted from certain plants that help in the stimulation of cells and help in the transplantation of the injured spinal cells.
Restraints- lack of proper clinical data, rise in the cost of the spinal devices, high cost for medical treatment, less demand for the invasive procedures, risk during the surgery like the risk of infection, post-surgery back pain are the major restraining factor of the spinal market.
Value Chain Analysis
The supply chain in the spinal traction market has brought light key development strategies thus encircling minimal cost structure. This enables a sound understanding of the growth of the market. Market positioning and targeting the customers are the basis of the value supply chain.
By type- based on the type the spinal traction market has been divided based on end-users, diagnosis, and treatment. According to the devices, the market is again bifurcated into continuous traction and manual traction.
By technology- with the advancement of technology innovation of new spinal devices took place. Innovative technology strategized the many companies where the major focus was especially on the development of such devices. The technology offered the best diagnosis and treatment to the patient having spine disorder. It led to the discovery of wireless sensor technology which led to the production of advanced products connected to external devices which helps in market for spinal traction analysis and recovery process. The use of new methodologies, treatment, and therapeutics has brought effective results in the spinal traction industry. Regulatory framework and development of medical technological methods and certain policies push up the growth of the market. The new technology provides good and best solutions that fulfill the requirements of the customer.
Figure 1 Spinal traction Global Market by Types, 2016 (%)
The major region of America covers the spinal traction market share and spends a large sum on the healthcare of the spinal ailment people. The adoption of new medical devices and new diagnosis facilities in the United States drives the spinal market. North America shared a major part of the spinal traction global market. This is because here major spin disorder patients are present. Europe followed after North America covers the next larger portion of spinal traction market share due to its high expenses and good health facilities. France and Germany lead the market. The UK is marked as the market growing at a faster pace. Asia Pacific countries like India and China due to their fastest-growing health sector and fulfilling the unmet huge requirement spur the growth. South Asian countries are estimated to grow rapidly during this market forecast period. The markets of the Middle East and Saudi America show cumulative growth emerge as the fastest growing market with an expansion of healthcare insurance. There are still some developing countries that need to be evenly tapped.
The information about the competitive landscape of spinal traction market is provided by the competitors forming partnerships with other companies. The above company focuses majorly on production sites, generation of revenue, weakness, and strength of the company, launching of a new product, taking new marketing initiatives, etc. some of the competitors during the market for spinal traction forecast period are Saunders Group, Inc., Scrip, Inc., BTL, Stoll Medizintechnik Gmbh, Hill Laboratories Company, North American Medical Corporation, Spinetronics, LLC, Dentsply International, Medtronics, Inc., Spine Rx technology, Spinal designs International, CERT Health Sciences, LLC and VAX-D technologies and many more.
From spinal traction market analysis, it was marked about the holistic evaluation of the segmentation done by the spinal traction of the market. Each part of the segment elaborates on the various components and the division so done. From spinal traction industry trends yearly progress of the market was marked. The report also provides insights about the COVID period that has affected the market during the spinal traction industry forecast period. It provides an in-depth analysis of the status and future prospectus of the spinal traction industry. From the market for spinal traction outlook, the report diversifies about the challenges, opportunities, spinal traction global market trends, drivers that enhance the spinal traction industry size, and the restraints that hamper the growth. The report concentrated on the developmental activities. The report also signifies the price put forward by the competitors to target the brands thus understanding the spinal traction value.
|Market Size||2023: USD 6.0 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Diagnosis, Treatment, and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and 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||Development of new Devices with Advanced Technology|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
By 2023, Spinal Traction Market would grow up to USD 6 billion.
Innovation has the major edge in taking the global Spinal Traction Market ahead.
The CAGR of Spinal Traction Market would be 7.7% during the forecast period of 2017 to 2023.
The Spinal Traction Market has gravity-dependent traction, continuous traction, and manual traction.
The Spinal Traction Market has segments like bone spurs, slipped discs, herniated discs, facet disease, degenerative disc disease, foramina stenosis, sciatica, and pinched nerves.