Global Surgical Retractor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Surgical Retractor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global surgical retractor market report has been segmented on the basis of product, application, end user, and region.
Global Surgical Retractor Market: Overview
Surgical retractor is a surgical instrument that help operating room professionals and surgeons to hold an incision during surgical procedures. In addition, they aid in holding organs or tissues, allowing doctors for better visibility and access to the exposed or affected areas. There are different types, shapes, and size surgical retractor available in market. For example, hand cranked surgical retractor is used for rib surgery and thoracic retractor. These instruments are used manually or by help of robots in order to perform the surgical procedure.
Global Surgical Retractor Market: Dynamics
Rising number of surgical procedures owing to increasing incidences of chronic diseases such as heart disease and cancer globally is a key factors expected to drive the revenue growth of the target market over forecoming years. According to a study conducted by World Health Organization (WHO) in collaboration with the World Bank, it was estimated that in 2005, about 235 Mn operations were performed globally and is expected to increase at a relatively higher rate over the coming years.
In addition, increasing geriatric population, rising demand for minimal invasive surgical procedure, and higher healthcare expenditure, are some of the other factors driving growth of the global surgical retractor market.
However, stringent regulation by FDA for the approval of various surgical equipment and lack of skilled professional in underdeveloped countries are the major factors expected to restraint growth of the target market to a certain extent.
Global Surgical Retractor Market: Segment Analysis
On the basis of product segment, table-mounted retractor is expected to for majority share in the global surgical retractor market. This is primarily due to high reliability and functionality of these instruments over others and easy accessibility. On the basis of application segment, abdominal application is expected to witnessed high revenue share over the next 10 years. This is due to, increasing prevalence of various disease conditions related to abdominal organs. On the basis of end user segment, hospital, clinics, and surgical centers is expected to dominate the market over the forecoming years.
Global Surgical Retractor Market: Trends
Major player in the target market are focusing on launching of new product for various application, is a key trend observed in the market.
For instance, In July 2018, SpineCraft, LLC which is a US-based company that is engaged in development and manufacturing of high quality spinal implants and instruments, launch of the PANORAMA retractor for minimally invasive spine surgery.
Global Surgical Retractor Market: Regional Analysis
Currently, the markets in North America accounted highest revenue share in the target market. This is primarily attributed to, rapidly increasing elderly population, developed medical facilities, and increasing demand for demand for surgical instruments which in turn will drive revenue growth of surgical retractor in countries in the region. The markets in Asia Pacific is expected to witnessed fastest growth over the forecast period, owing to ongoing investments by hospitals and other institutes for upgradation of operating rooms and rising prevalence of lifestyle disorders in countries such as China and India in the Asia Pacific region.
Global Surgical Retractor Market Segmentation:
Segmentation by product:
- Hand Retractors
- Self-Retaining Retractors
- Table-mounted Retractors
- Wire Retractors
Segmentation by application:
- Abdominal Applications
- Cardiothoracic Applications
- Orthopedic Applications
- Obstetric and Gynecological Applications
- Urological Applications
- Others (includes Head, Neck, and Spinal Applications, Aesthetic Surgical Applications, etc.)
Segmentation by end user:
- Hospitals, Clinics, and Surgical Centers
- Ambulatory Care Centers
- Maternity and Fertily Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Johnson & Johnson
- Medtronic Plc
- Becton, Dickinson and Company
- Stryker Corporation
- Terumo Corporation
- Henry Schein, Inc.
- Braun Melsungen Ag
- Teleflex Incorporated
- Integra Lifesciences Holdings Corporation
- The Cooper Companies, Inc.
- Globus Medical, Inc.
- RTI Surgical, Inc.
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