Global Surgical Retractor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Surgical Retractor Market report has been segmented on the basis of product, application, end-user, and region.
Surgical Retractor Market: Overview
“The Surgical Retractor Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The surgical retractor is a surgical instrument that helps operating room professionals and surgeons to hold an incision during surgical procedures.
In addition, they aid in holding organs or tissues, allowing doctors better visibility and access to the exposed or affected areas.
There are different types, shapes, and sizes of surgical retractors available on the market. For example, the hand-cranked surgical retractor is used for rib surgery and thoracic retractor. These instruments are used manually or with the help of robots in order to perform the surgical procedure.
Surgical Retractor Market: Dynamics
The rising number of surgical procedures owing to increasing incidences of chronic diseases such as heart disease and cancer globally is a key factor 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, the increasing geriatric population, rising demand for minimally invasive surgical procedures, and higher healthcare expenditure are some of the other factors driving the growth of the global surgical retractor market.
However, stringent regulation by the FDA for the approval of various surgical equipment and the lack of skilled professionals in underdeveloped countries are the major factors expected to restrain the growth of the target market to a certain extent.
Surgical Retractor Market: Segment Analysis
On the basis of product segment, the table-mounted retractor is expected to for the majority share in the global surgical retractor market.
This is primarily due to the high reliability and functionality of these instruments over others and easy accessibility. On the basis of the application segment, the abdominal application is expected to witness a high revenue share over the next 10 years.
This is due to, the increasing prevalence of various disease conditions related to abdominal organs. On the basis of the end-user segment, hospitals, clinics, and surgical centers are expected to dominate the market over the forecoming years.
Surgical Retractor Market: Trends
A major player in the target market is focusing on launching a new product for various applications, which 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 the development and manufacturing of high-quality spinal implants and instruments, launched the PANORAMA retractor for minimally invasive spine surgery.
Surgical Retractor Market: Regional Analysis
Currently, the markets in North America accounted highest revenue share in the target market.
This is primarily attributed to, the rapidly increasing elderly population, developed medical facilities, and increasing demand for surgical instruments which in turn will drive revenue growth of surgical retractors in countries in the region.
The markets in the Asia Pacific are expected to witness the fastest growth over the forecast period, owing to ongoing investments by hospitals and other institutes for up-gradation of operating rooms and the rising prevalence of lifestyle disorders in countries such as China and India in the Asia Pacific region.
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 Fertility Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 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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