In 2021, the global Surgical Retractors Market was estimated to be worth approximately US$ 1.8 billion. With an 8% CAGR over the next ten years, the market is expected to be worth nearly US$ 4.1 billion by the end of 2032. The rising number of operations performed as a result of trauma, hip and knee replacements, and chronic conditions such as cardiovascular illnesses where surgery is required is the primary driving force behind the market's expansion.
Around 12% of all neurology patients die from these diseases each year, according to the World Federation of Neurology. According to the WHO, neurological diseases will cause an increase in the number of Disability-Adjusted Life Years lost globally from 95 Million in 2015 to 103 Million in 2030.
Surgery is the single and primary form of treatment for neurological conditions. The increase in neurological surgeries and the high demand for surgical retractors manufactured especially for these procedures are the main reasons why the neurosurgery segment dominates the market for surgical retractors.
The United States will hold the largest share of the market throughout the Analysis Period
From 2022 to 2032, the Surgical Retractors Market is estimated to develop at a CAGR of 8.9% in the United States; taking the market to US$ 1.1 Bn by 2032. From 4% of GDP in the 1960s to 19.7% of GDP in 2020, the US's healthcare costs have grown significantly.
Chronic renal illness affects 15% of Americans, according to the Centers for Disease Control and Prevention. The rising prevalence of chronic diseases is therefore predicted to increase the need for surgical intervention, which will raise demand for surgical retractors and generate an absolute dollar growth potential of US$ 663 Mn.
Surgical Retractors Market: Competition Insights
The key companies operating in the Surgical Retractors Market include Baxter International Inc., B. Braun Melsungen AG, The Cooper Companies, Inc., Terumo Corporation, Teleflex Incorporated, Medtronic Plc., Medline Industries INC., Johnson & Johnson, NOVO NORDISK, Integra Lifesciences Holdings Corporation, HENKE-SASS WOLF, Henry Schein, Inc., Dickinson and Company, Conmed Corporation, SKLAR Surgical Instruments., Teleflex Incorporated., Olympus Corporation, Thompson Surgical, Arthrex, Inc., Microsurgical Technology, STRYKER CORPORATION, GLOBUS MEDICAL, Applied Medical Resources Corporation, Innomed, Inc., LiNA Medical ApS, Vivo Surgical Private Limited, and Changzhou Haiers Medical Devices Co. Ltd.
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Key Segments Covered in Surgical Retractors Market Survey
By Application:
- Handheld
- Self-retaining
By Product Type:
- Abdominal retractor
- Finger retractor
- Nerve Retractor
- Orthopedic Retractor
- Rectal Retractor
- Thoracic retractor
- Ribbon retractor
- Other Product Types
By Application Size:
- Neurosurgery
- Wound closure
- Reconstructive surgery
- Cardiovascular
- Orthopedic
- Obstetrics and Gynecology (Ob/Gyn)
- Other Applications
By End-use:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
The major factors driving the growth of the surgical retractors market are increasing number of surgical procedures; market availability of specialized and application specific retraction products; continuous expansion of geriatric population; and rising demand for plastic and reconstructive surgeries.The report Surgical Retractor Market is projected to reach USD 2.5 billion by 2023 from USD 1.8 billion in 2018, at a CAGR of 7.2%.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121697708Market Segmentation:- Based on product type, the surgical retractors market is segmented into hand-held retractors, self-retaining retractors, table-mounted retractors, wire retractors, and accessories.
The hand-held retractors segment is expected to account for the largest share of the surgical retractors market in 2018.
The availability of a wide range of affordable handheld retractors coupled with significant preference of healthcare providers for these products across the world and large number of surgical procedures (especially abdominal and cardiothoracic procedures) conducted across major healthcare markets is the major factor driving the growth of this market segment.Based on applications, the surgical retractors market is segmented into abdominal applications; cardiothoracic applications; orthopedic applications; obstetric and gynecological applications; general surgical applications; head, neck, and spinal applications; aesthetic surgical applications, and other applications.
The surgical retractors market for head, neck, and spinal application is expected to witness high growth rate in the during forecast period.Based on end user, the surgical retractors market is segmented into hospitals, clinics, and surgical centers; ambulatory care centers; and maternity and fertility centers.
The hospitals, clinics, and surgical center end user segment is expected to account for the largest share during the forecast period.
The growing number of surgical procedures across the globe and growth in the number of hospitals, clinics and surgeons providing surgical treatments are the key factors driving the growth of this segment.Regional Analysis: -The surgical retractors market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World.
Market HighlightsThe Global Surgical Retractors Market held a market value of USD 1,103 Million in 2017 and is projected to grow at a CAGR of 7.8% over the forecast period.An increasing number of surgical procedures leading to increase demand of surgical retractors.
Surgical retractors are one of the important surgical instruments which is used to separate the edges of the wound or surgical incision.
Due to the increasing prevalence of obesity across the globe, many of the companies are in the race to introduce better treatment for obesity.
Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.Additionally, the growing research and development expenditure by the government as well as the private sector is likely to contribute to the market growth.
As per the data by the Office for National Statistics, in 2016, the gross domestic expenditure on research and development (R) was Euro 33.1 billion (USD 35.2 billion) in the UK.
Europe is expected to hold the second-largest position in the global surgical retractors market owing to the presence of a strong academic & research base and availability of funding for research in the European countries.
