The global surgical retractors market is poised for significant growth, with revenues expected to climb from USD 1.9 billion in 2022 to USD 2.8 billion by 2027, marking a CAGR of 6.7%. Key factors driving this market include the increasing number of surgical procedures worldwide, the rising prevalence of chronic diseases, and a growing geriatric population. Additionally, the availability of specialized retraction products is boosting demand.
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Growth Driver: Surge in Global Surgical Procedures
Surgical retractors are essential tools in various medical fields, including open surgeries, endoscopy, dermatology, ophthalmology, and dentistry. As surgical care becomes more affordable and accessible, the number of procedures utilizing surgical retractors is on the rise. This trend is further fueled by the increasing prevalence of chronic diseases, necessitating more surgeries and, consequently, a higher demand for advanced surgical equipment like retractors.
Opportunity: Expanding Markets in Emerging Economies
Emerging economies such as China, Brazil, Mexico, and India present lucrative growth opportunities for the surgical retractors market. Factors driving demand in these regions include rapid growth in healthcare infrastructure, increased healthcare expenditure, and a booming medical tourism industry. Furthermore, the rising number of skilled surgeons and the surge in target surgical procedures are contributing to market expansion. Other emerging countries are also modernizing their healthcare facilities, leading to increased procurement of medical devices and surgical instruments.
Market Segmentation
- Product Type: The market is segmented into handheld retractors, self-retaining retractors, table-mounted retractors, wire retractors, and retractor accessories. Handheld retractors held the largest market share in 2021, driven by their affordability and widespread use in various surgical procedures.
- Usage: Segmentation includes tissue handling and dissection, and fluid swabbing. The tissue handling and dissection segment is expected to register the highest CAGR, reflecting the increasing surgical procedures globally.
- Application: Segmented into abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, obstetric and gynecological surgeries, urological surgeries, aesthetic surgeries, head, neck, and spinal surgeries, and other surgeries. The head, neck, and spinal surgeries segment is projected to grow the fastest, driven by a rising incidence of spinal disorders.
- End Users: The market is divided into hospitals, clinics, and surgical centers, ambulatory care centers, and maternity and fertility centers. Ambulatory care centers are expected to see the highest growth due to their cost-effective treatment options.
Regional Analysis
The Asia Pacific region is set to experience the highest growth during the forecast period. Key factors include the presence of high-growth markets like India, China, and Japan, favorable government initiatives, and a rapidly growing geriatric population.
Recent Developments in the Surgical Retractors Industry
- Henry Schein (2022): Acquired Condor to expand its dental distribution business in Switzerland.
- Henry Schein (2020): Entered into an agreement with the Dentists Supply Company to form TDSC.com, an online platform for purchasing dental supplies, serving state dental association members.
- Integra LifeSciences (2019): Acquired Rebound Therapeutics to develop innovative products addressing unmet needs in neurosurgery.
- Stryker Corporation (2019): Acquired Mobius Imaging and Cardan Robotics to enhance its orthopedics, spine, and neurotechnology divisions with advanced imaging and robotics technologies.
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Top Key Players
Prominent players in the surgical retractors market include Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Integra LifeSciences (US), Teleflex Incorporated (US), Medtronic plc (US), Johnson & Johnson (US), Stryker Corporation (US), Henry Schein, Inc. (US), Sklar Surgical Instruments (US), Mediflex Surgical Products (US), Medline Industries, Inc. (US), Bausch Health Companies, Inc. (Canada), Thompson Surgical Instruments (US), BR Surgical, LLC (US), The Cooper Companies, Inc. (US), Innomed, Inc. (US), Terumo Corporation (Japan), Globus Medical, Inc. (US), Halma plc (UK), Enovis Corporation (US), CONMED Corporation (US), Olympus Corporation (Japan), Arthrex, Inc. (US), Applied Medical Resources Corporation (US), and LiNA Medical ApS (Denmark).
As the market evolves, these key players are expected to drive innovation and expansion through strategic partnerships, product launches, and investments in emerging markets. The increasing demand for advanced surgical retractors will continue to propel market growth, making it a critical area of focus in the medical device industry.
