Surgical Retractors Market Size & Share to Surpass $1626.3 Million by 2028 | Vantage Market Research

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WASHINGTON, March 22, 2023 (GLOBE NEWSWIRE) -- Global Surgical Retractors Market is valued at USD 1,179.5 Billion in 2021 and is projected to reach a value of USD 1,626.3 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 5.5% over the forecast period 2022-2028.

Surgical Retractors Market Overview

The surgical retractors market refers to the medical instruments used to hold an incision or wound open during surgery, allowing surgeons to view and access the area being operated on. These devices come in a variety of shapes and sizes, and they are used in a wide range of surgical procedures.

The global surgical retractors market is expected to experience steady growth in the coming years. The growing prevalence of chronic diseases such as cancer and cardiovascular disease, coupled with an aging population, is expected to increase demand for surgical procedures, which will in turn drive demand for surgical retractors. Technological advancements in surgical instruments and an increasing focus on minimally invasive surgeries are also expected to fuel market growth.

In terms of product type, the surgical retractors market can be segmented into hand-held retractors, self-retaining retractors, table-mounted retractors, and others. Self-retaining retractors are expected to hold the largest share of the market due to their ease of use and ability to provide consistent retraction without the need for constant manual adjustment.

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Market Dynamics

The surgical retractors market is influenced by a variety of factors that impact demand and supply. Some of the key market dynamics affecting this market include:

Demographic and epidemiological trends: The aging population and the increasing prevalence of chronic diseases such as cancer and cardiovascular disease are driving demand for surgical procedures, which in turn is driving demand for surgical retractors.

Technological advancements: The development of new surgical instruments and the increasing use of minimally invasive surgical procedures are driving demand for surgical retractors that are more precise, efficient, and easy to use.

Regulatory environment: The surgical retractors market is heavily regulated by government agencies such as the FDA, which can impact market growth and innovation.

Healthcare infrastructure: The availability and quality of healthcare facilities and services can impact demand for surgical retractors, especially in developing countries.

Competitive landscape: The surgical retractors market is highly competitive, with many players offering a range of products and services. Competition can impact pricing, innovation, and market share.

Economic factors: Economic factors such as GDP growth, inflation rates, and currency exchange rates can impact demand for surgical retractors, especially in emerging markets.

Reimbursement policies: The availability and level of reimbursement for surgical procedures can impact demand for surgical retractors, especially in regions with public healthcare systems.

Top Players in the Global Surgical Retractors Market

  • Medtronic

  • Becton Dickinson & Company (BD)

  • Medical Devices Business Services Inc.

  • Teleflex Incorporated

  • Medline Industries Inc.

  • B. Braun Melsungen AG

  • Applied Medical Resources Corporation

  • Thompson Surgical

  • Innomed Inc.

  • LiNA Medical APS

  • Vivo Surgical Private Limited

  • BVI

  • CooperSurgical Inc.

  • Stryker

  • Terumo Corporation

  • June Medical Group

  • Mediflex Surgical Products

  • Chamfond Biotech Co. Ltd

  • Applied Medical Technology Inc. (AMT)

  • Microcure (Suzhou) Medical Technology Co. Ltd.

  • Changzhou Haiers Medical Devices Co. Ltd

  • Boston Scientific Corporation

  • Coloplast

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Top Trends in Global Surgical Retractors Market

The global surgical retractors market is expected to witness several trends in the coming years. Some of the top trends in the market include:

Rising demand for minimally invasive surgical procedures: The trend towards minimally invasive surgeries is increasing due to their benefits such as reduced pain, shorter hospital stays, and quicker recovery times. This trend is expected to drive demand for surgical retractors that are compatible with minimally invasive surgical techniques.

Increasing adoption of robotic surgery: The adoption of robotic surgery is increasing due to its precision, accuracy, and ability to perform complex surgeries. This trend is expected to drive demand for surgical retractors that are compatible with robotic surgical systems.

Growing focus on ergonomics: The use of surgical retractors can cause musculoskeletal disorders in surgeons, leading to work-related injuries. As a result, there is a growing focus on ergonomics and the development of retractors that are comfortable to use and reduce the risk of injury.

Integration of imaging technology: The integration of imaging technology such as MRI and CT scans into surgical retractors is expected to improve surgical accuracy and reduce the risk of complications.

Increasing use of disposable surgical retractors: The use of disposable surgical retractors is increasing due to their benefits such as reduced risk of infection and improved cost-effectiveness. This trend is expected to drive demand for disposable surgical retractors in the coming years.

Development of smart surgical retractors: The development of smart surgical retractors that can provide real-time feedback to surgeons during surgery is expected to improve surgical outcomes and reduce the risk of complications.

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Top Report Findings

  • Increasing demand for minimally invasive surgeries is driving the growth of the surgical retractors market.

  • The hand-held retractors segment is expected to hold the largest share of the surgical retractors market due to their ease of use and cost-effectiveness.

  • The abdominal surgeries segment is expected to be the largest application segment for surgical retractors due to the high number of abdominal surgeries performed worldwide.

  • North America is expected to be the largest market for surgical retractors due to the presence of a large number of healthcare facilities and the high adoption of advanced surgical procedures.

  • The market is expected to witness consolidation with mergers and acquisitions, collaborations, and partnerships among key players.

  • The development of new and innovative surgical retractors, such as self-retracting devices, is expected to drive the growth of the market.

  • The rising geriatric population and increasing prevalence of chronic diseases are expected to boost the demand for surgical procedures and surgical retractors.

  • The market is facing challenges due to the high cost of surgical procedures and the lack of skilled healthcare professionals in developing countries.

  • The market is expected to witness significant growth opportunities in emerging markets, such as Asia-Pacific, due to the growing healthcare infrastructure and increasing healthcare expenditure in these regions.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Surgical Retractors Market Forecast Report (2022-2028).

Global Surgical Retractors Market Segmentation

By Type

  • Handheld

  • Self-Retaining

By Products

  • Abdominal Retractor

  • Finger Retractor

  • Nerve Retractor

  • Orthopedic Retractor

  • Rectal Retractor

  • Thoracic Retractor

  • Ribbon Retractor

  • Other Products

By Applications

  • Neurosurgery

  • Wound Closure

  • Reconstructive Surgery

  • Cardiovascular

  • Orthopedic

  • Obstetrics & Gynecology (Ob/Gyn)

  • Other Applications

By End Users

  • Hospitals

  • Ambulatory Surgical Centers

  • Clinics

By Region

  • North America

  • Asia Pacific

  • Europe

  • Latin America

  • Middle East & Africa

Key Questions Answered in the Report:

  • What is the size and growth rate of the surgical retractors market?

  • What are the key factors driving the growth of the market?

  • What are the different types of surgical retractors available in the market?

  • What are the key applications of surgical retractors in various surgical procedures?

  • What is the market share of different companies in the surgical retractors market?

  • What are the emerging trends and opportunities in the surgical retractors market?

  • What are the challenges faced by the market players in the surgical retractors market?

  • What are the regulatory frameworks governing the surgical retractors market?

  • What are the strategies adopted by the market players to strengthen their position in the market?

  • What is the future outlook of the surgical retractors market?

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Scope of the Report:

Report Attributes

Details

Market Size in 2021

USD 1,179.5 Million

Revenue Forecast by 2028

USD 1,626.3 Million

CAGR

5.5% from 2022 to 2028

Base Year

2021

Forecast Year

2021 to 2028

Key Players

Medtronic, Becton Dickinson & Company (BD), Medical Devices Business Services Inc., Teleflex Incorporated, Medline Industries Inc., B. Braun Melsungen AG, Applied Medical Resources Corporation, Thompson Surgical, Innomed Inc., LiNA Medical APS, Vivo Surgical Private Limited, BVI, CooperSurgical Inc., Stryker, Terumo Corporation, June Medical Group, Mediflex Surgical Products, Chamfond Biotech Co. Ltd, Applied Medical Technology Inc. (AMT), Microcure (Suzhou) Medical Technology Co. Ltd., Changzhou Haiers Medical Devices Co. Ltd, Boston Scientific Corporation, Coloplast

Customization Options

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Regional Analysis

  • North America is expected to hold the largest share of the surgical retractors market, owing to the high adoption of advanced surgical procedures, a large number of healthcare facilities, and the presence of key market players in the region.

  • Europe is expected to be the second-largest market for surgical retractors due to the high prevalence of chronic diseases, rising geriatric population, and increasing healthcare expenditure.

  • The Asia-Pacific region is expected to witness significant growth in the market due to the growing healthcare infrastructure, increasing healthcare expenditure, and rising demand for advanced surgical procedures.

  • Latin America and the Middle East and Africa (MEA) are also expected to witness growth in the surgical retractors market due to the rising prevalence of chronic diseases and the increasing adoption of advanced surgical procedures.

  • However, the market in these regions may face challenges due to the lack of healthcare infrastructure and skilled healthcare professionals, and low healthcare expenditure in some countries.

  • The increasing focus on medical tourism in countries such as India, Thailand, and Mexico are expected to create growth opportunities for the surgical retractors market in these regions.

  • The COVID-19 pandemic has impacted the surgical retractors market in different regions, with a decline in surgical procedures in some countries due to restrictions on elective surgeries and the diversion of healthcare resources to COVID-19 patients. However, the market is expected to recover in the coming years as the pandemic subsides and surgical procedures resume.

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