Market Research Future published a research report on Global Spinal Traction Market and Predicted that 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. Taste the market data and market information presented through more than 50 market data tables and figures spread over 100 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on “Global Spinal Traction Market” Research Report – Forecast till 2023.
Spinal Traction Market Information: By Type (Manual Spinal Traction, Mechanical Spinal Traction), Applications (Slipped Discs, Bone Spurs, Degenerative Disc Disease, Herniated Discs, Facet Disease, Sciatica, Foramina Stenosis, Pinched Nerves), Devices (Continuous Traction, Gravity-Dependent Traction, Manual Traction) – Global Forecast till 2023
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Key Players
Some of the key players profiled in the report are
- Fujifilm Holdings,
- GE Healthcare,
- Siemens Healthcare,
- Philips Healthcare,
- Shimadzu Corporation,
- Toshiba Medical Systems Corporation,
- pfizer plc.,
- Baxter,
- Mylan N.V.,
- Teva Pharmaceutical Industries Ltd.,
- Hitachi Medical Corporation, and others.
Spinal Traction Market – Overview
The market drivers for the spinal traction devices market are growing geriatric population, rising cases of spinal cord diseases and trauma, rising number of spinal surgery, increasing awareness and screening, and developing healthcare. On the other hand, lack of experimental clinical data in support of traction devices in medical treatment, high cost of devices, demand for minimally invasive procedures, risks of surgery such as pain, risk of infection and damage to the spine, may hamper the marker growth over the review period.
Innovation remains the best strategy for the global spinal traction devices. Thus, many companies are focusing on developing new devices offering better diagnostics and treatment of various spine conditions. Wireless sensor technology is the latest wave with advanced products have been connected to external devices for further analysis of the problem and the healing progress. However, cost of the product projected to be a crucial factor in the developing regions such as Asia Pacific and Africa.
Increasing geriatric population, rising cases of spinal cord diseases and trauma, rising number of spinal surgery, growing screening, rising awareness, and growing income are the major drivers of this market. On the other hand, lack of clinical evidence, high cost of the devices coupled with low healthcare expenditure in developing regions may restrain the market growth during the given period.
Regional Analysis:
The Americas accounts for a significant market share owing to high expenditure on the health care. Additionally, the fastest uptake of new diagnostics and drugs in the U.S. drives the mesenteric ischemia market. Furthermore, concentration of the major healthcare companies and large hospitals in the developed countries of this region coupled with large insurance penetration are 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 mesenteric ischemia 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. However the southern European nations have witnessed a greater incidence of infective mesenteric ischemia due to associated environmental conditional. 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 highly to the market growth. Furthermore, growing penetration of healthcare insurance in the Asia Pacific region is expected to drive the future mesenteric ischemia 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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