Spinal Traction Market Size, Share, Competitive Landscape and Trend Analysis Report, by Device Type, by Application and, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

What is the Impact of COVID-19 Pandemic on the Spinal Traction Market?

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the dementia drugs market.

Top Impacting Factors

• Rise in geriatric population, increase in prevalence of spinal cord injury, and development of hospital and healthcare centers are the key factor for growth of the spinal traction market.
• Rise in the ongoing research & development in healthcare sector to improve the quality of healthcare and develop new improved devices to offer better diagnostic treatment boost the growth of spinal traction market.
• However, osteoporosis and certain types of cancer patient are refrain from using spinal traction device, which restrain its spinal traction market growth.
• On the contrary, huge scope of opportunity in the spinal traction market awaits with the onset of innovations in the global spinal traction devices with wireless sensor technology.

Market Trends

New Product Launches to Flourish the Market

In 2018, Vallum Corporation was approved by the American Food and Drug Administration (FDA) launched spinal fusion device, polyetheretherketone (PEEK), which has a nano textured surface.
On May 2019, Globus Medical announced the launch of its continuous traction device, AERIAL, which is the company’s first expandable interspinous fixation system.
On February 2019, OrthoPediatrics announced the launch of the New BandLoc DUO, a temporary implant used for orthopedic surgery to stabilize the bone during the development of solid bony fusion.

Key Benefits of the Report

• This study presents the analytical depiction of the spinal traction industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the spinal traction spinal traction market share.
• The current market is quantitatively analyzed to highlight the spinal traction market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed spinal traction market analysis depending on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Spinal Traction Report

• Who are the leading players active in the spinal traction market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps?
• What is "spinal traction"?
• What is "spinal traction" market prediction in the future?