Surgical Retractors Market is expected to grow at a steady rate of around 6%
A tool that is used for holding an incision or wound open by surgeons while performing surgery is known as a surgical retractor. This can also be used to hold tissues or organs out of the way during a surgical procedure. The surgical retractor market is growing on account of the rising number of surgical procedures across the world owing to the rapidly surging geriatric population and increased affordability & accessibility to surgical care. For instance, according to the American Society of Cataract and Refractive Surgery (ASCRS), 3 million Americans undergo cataract surgery annually. Also, around 330,000 cataract operations are performed every year in England alone.
The Surgical Retractors Market is expected to grow at a steady rate of around 6% during the forecast period. Factors such as rapid technological advancement in the medical field and increasing research & development activities for launching new and advanced products in the market are some of the prominent factors contributing to the growth of the market.
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Based on product type, the surgical retractors market is segmented into hand retractors, self-retaining retractors, wire retractors, and others. The hand retractors segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as they are the most commonly used surgical device. However, the self-retaining retractors segment is estimated to register the highest CAGR during the forecast period as these retractors allow a surgeon to position this retractor without assistance.
Based on application, the surgical retractors market is classified into obstetrics & gynecology, cardiovascular, orthopedic surgery, wound closure, and others. The cardiovascular segment grabbed a significant market share in 2020 and is expected to grow considerably during the forecast period. The growth of this segment can be attributed to the growing prevalence of cardiovascular diseases leading to an increase in the number of cardiovascular surgeries.
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For a better understanding of the market adoption of the surgical retractors industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The surgical retractor market is growing on account of the growing geriatric population and the rise in chronic disease incidences across the region. Furthermore, the presence of well-established market players including manufacturers, suppliers, and distributors is also boosting the market growth.
Some of the major players operating in the market include Becton, Dickinson and Company, B. Braun Melsungen AG, Integra LifeSciences, Medtronic plc, Stryker Corporation, Johnson & Johnson, Medline Industries, Inc., Terumo Corporation, Olympus Corporation, CONMED Corporation.
Global Surgical Retractors Market Segmentation
Market Insight, by Product Type
· Hand Retractors
· Self-Retaining Retractors
· Wire Retractors
· Other
Market Insight, by Application
· Obstetrics & Gynecology
· Cardiovascular
· Orthopedic Surgery
· Wound Closure
· Others
Market Insight, by End-User
· Hospitals
· Ambulatory Surgical Centers
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Becton, Dickinson and Company
· B. Braun Melsungen AG
· Integra LifeSciences
· Medtronic plc
· Stryker Corporation
· Johnson & Johnson
· Medline Industries, Inc.
· Terumo Corporation
· Olympus Corporation
· CONMED Corporation
