Market Synopsis of the Global Lab
Spinal traction devices are used to decompress and stabilize the spine to treat various spine disorders or orthopaedic conditions such as muscle contracture, bone fractures, bone deformities such as oliosis, kyphosis and lordosis, etc. The spinal traction devices are also used in the treatment of muscle spasms and low back pain. Spinal decompression uses negative intradiscal pressure to promote retraction or repositioning of the herniated or bulging spinal disc. The spinal traction devices are also used to prepare the patient for surgical procedures such as endoscopic spine surgery, vertebral compression fracture repair, interspinous fixation, and interbody fixation.
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The global spinal traction devices market is driven by growing geriatric population, rising cases of spinal cord diseases and trauma, rising number of spinal surgery, increasing awareness and screening, and developing healthcare. However, lack of experimental clinical data in the support of traction devices in medical treatment, high cost of devices, demand for minimally invasive procedures, risks associated with surgery such as pain, risk of infection and damage to the spine may hamper the market growth over the review period.
Innovation remains the best strategy for the global spinal traction devices with many companies focusing more on developing new devices offering better diagnostics and treatment to various spine conditions. Wireless sensor technology is the latest research area with advanced products have been connected to external devices for further analysis of the problem and the healing progress.
The global 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.
- Global spinal traction manufacturers & suppliers
- Research and development (R&D) companies
- Hospitals and clinics
- Academic institutes and universities
The global spinal traction market has been segmented on the basis of types, diagnosis, treatment, and end user.
Based on the types, the market has been segmented as manual spinal traction, and mechanical spinal traction.
Based on the applications, the market has been segmented as slipped discs, bone spurs, degenerative disc disease, herniated discs, facet disease, sciatica, foramina stenosis, and pinched nerves.
Based on the devices, the market has been segmented as continuous traction, gravity-dependent traction, and manual traction.
The Americas accounts for a significant market share owing to high expenditure on the health care. Additionally, the fastest uptake of new diagnostics and medical devices in the U.S. drives the spinal traction market. Furthermore, the concentration of the major healthcare companies and large hospitals network in the developed countries of this region is adding fuel to the market growth. The U.S. expend high amount on its healthcare in 2015, which accounted for 16% of total GDP which, in turn, likely to drive the spinal traction market.
Europe is the second largest market in the world due to high income and strong healthcare penetration. The European market growth is led by countries such as Germany and France. The UK is expected to be the fastest growing market over the assessment period. Owing to strong pharmaceutical industry, Germany dominates the European market.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to the fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute more to the market growth. Furthermore, growing penetration of healthcare insurance in the Asia Pacific region is expected to drive the future spinal traction market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt, and Iran. The African region is expected to witness a moderate growth owing to poor economic and political conditions, and poor healthcare development. However, the poor countries and developing regions have the greatest unmet needs, which needs to be tapped.
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Key Players in the Global Spinal traction Market
Some of the key players profiled in the report are 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., and others.
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