The new report by Expert Market Research titled, ‘Global Traction Beds Market Report and Forecast 2024-2032’, gives an in-depth analysis of the global traction beds market, assessing the market based on its segments like products, technologies, end-users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2032)
• Forecast CAGR (2023-2024): 4.2%
The global market for traction beds is being driven by the increasing prevalence of spinal and orthopaedic problems globally, along with the rising cases of injuries among the geriatric population and sportspersons. In addition, the increasing rate of hospitalisation, the rapid development of hospitals, ambulatory surgical centres, and diagnostic facilities, and the increasing healthcare expenditure are further propelling the growth of the market. Further, the rising investments by the private and government hospitals to boost the comfort of patients are anticipated to aid the market growth in the forecast period. The healthcare organisations and institutes are increasingly focusing on improving their services and care quality, which is expected to support the demand for traction beds in the coming years.
Industry Definition and Major Segments
Traction beds refer to the type of bed utilised in healthcare institutes to provide longitudinal force to the axis of the spinal column of a patient. Traction beds are available in varied formats to meet the specific conditions of patients. For instance, in case of spinal injury, a spinal traction bed will be used. The product is widely adopted in hospitals, physiotherapy clinics, and nursing homes, among others.
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By product, the market can be divided into:
• Spinal Traction
• Skeletal Traction
• Cervical Traction
• Skin Traction
Based on technology, the market is segmented into:
• 2-Fold Traction Bed
• 3-Fold Traction Bed
• 4-Fold Traction Bed
• Others
The significant end-users of the product include:
• Hospitals
• Clinics
• Ambulatory Surgery Centres
• Homecare Settings
• Others
The regional markets for traction beds include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The increasing focus of healthcare institutes, including clinics and nursing homes, on improving the comfort and experience of patients is positively impacting the market growth. In addition to this, the market growth can be associated with the rising healthcare expenditure by the middle-class population. Moreover, the rapid expansion of leading medical device manufacturers is anticipated to significantly enhance the market growth in the forecast period. In terms of region, North America accounts for a significant share in the market owing to the rising government funding to provide high-quality healthcare services in countries like the United States of America and Canada, along with the increasing spending on public health.
Key Market Players
The report also covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of the major market players.
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