Market Snapshot

Market Synopsis:

The global Surgical Retractors market valued at USD 1,179.5 Million in 2021 and is projected to reach a value of USD 1,626.3 Million by 2028 at a CAGR of 5.5% over the forecast period.

The Surgical Retractors market is witnessing growth due to the increased demand for Surgical Retractors devices and their applications in the healthcare sectors, and the rising prevalence of chronic diseases. In addition, the growing need for surgical therapy will further enhance the demand for Surgical Retractors in the coming years. Furthermore, the increased use of minimally invasive surgeries, as well as the strong R&D emphasis of leading market competitors, are some of the factors fueling the market growth.

According to the World Federation of Neurology, the neurological disorders kill 12% of all neurology patients each year. Additionally, the number of Disability-Adjusted Life Years (DALYs) lost as a result of neurological illnesses is likely to increase globally, according to the WHO. As a result, surgical procedures are one of the primary therapeutic choices for neurological disorders. Moreover, the Surgical Retractors market is likely to be driven by an increase in the number of neurological surgeries and a high demand for Surgical Retractors specifically tailored for these procedures.

Market Segmentation:

Based on Product Type-

According to the product type, Hand retractors accounted for the biggest share of the surgical retractor market. The fact that these devices are frequently utilized in plastic surgeries and tiny bone and joint procedures is credited with the segment's growth. As a result, an increase in the number of plastic operations conducted around the world is a primary element driving the industry forward.

However, due to the device's locking technology, which allows the surgeon to utilize both hands, the self-retaining retractors segment is expected to increase at the quickest rate throughout the forecast period. As a result, the surgeon will have a more convenient surgery. Other factors that contribute to the market's growth include increased awareness about the use of self-retaining retractors and an increase in healthcare costs.

Based on Application-

The global Surgical Retractors market has been classified into neurosurgery, wound closure, abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, reconstructive surgeries, obstetric & gynecological surgeries, and others. The abdominal surgeries segment acquired the largest share of the market, owing to surge in number of abdominal surgeries performed worldwide. Surgical incisions are required for abdominal procedures in order to obtain a better view of the organs involved in the surgery. As a result, the demand for Surgical Retractors in abdominal surgeries is increasing, which is expected to boost the market growth during the forecast period. On the other hand, the cardiothoracic surgeries sector is predicted to develop at the fastest rate during the forecast period, owing to an increase in the frequency of cardiac disorders globally.

North America Dominates the Surgical Retractors Market

North America led the market, accounting for 30.4% of total revenue. This growth can mainly be attributed to the increasing number of preventing surgeries, high demand for cosmetic and reconstructive surgeries and the growing burden of chronic disorders, such as cancer, diabetes, and autoimmune diseases, increasing adoption technologically improved equipment, as well as a growing preference for increase in the adoption of robot-assisted minimally invasive procedures.

Furthermore, due to well-established healthcare infrastructure, constant growth in the number of surgical procedures, the existence of key market competitors, increased research and development proficiencies and rapid adoption of advanced technologies, North America is expected to have a considerable market share. Besides that, leading market participants' ongoing attempts to improve their R&D capabilities, as well as patient and surgeon compliance, are driving market growth.

Competitive Landscape:

Key players operating in the global Surgical Retractors market include Medtronic, Becton, Dickinson and 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.

Surgical Retractors Market is Segmented as Follows:

• Type
  • Handheld
  • Self-retaining

Surgical Retractors Market is Tabulated as Follows: