Surgical Retractors Market - Global Trends, Analysis, Covid19 Impact and Regional Forecast to 2023

Surgical Retractors Market Synopsis
Market Research Future (MRFR) postulates that the global surgical retractors market is anticipated to garner USD 1,103 million, grabbing a CAGR of 7.8% during the forecast period (2017-2023). Augmenting number of surgical procedures is considered to favor the market growth. Also acknowledged as a surgical detractor, retractors are referred to as surgical instruments which are generally used to separate the edges of the surgical incision or the wound. They are handheld instruments which are used by the surgeons during any surgical procedures. Such instruments are used by the robotic method or manually and are available in different sizes, shapes, and style for different surgeries.

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Surgical Retractors Market Potential and Pitfalls
The global surgical retractors market is expanding at a healthy CAGR during the appraisal period owing to several growth factors; the augmenting number of surgical procedures being one of them. With improved surgical treatment and technological advancements with increased success rates across the world, the market for surgical retractors is considered to flourish. As per WHO, more that 35% of the world population were suffering from major cardiovascular diseases back in 2015, which required surgical procedures. This boosted the market growth across the globe.

Several private sectors along with the governments across the world are highly investing in research and development activities which is further influencing the market growth to a large extent. As per the data provided by the Office for National Statistics, the gross domestic expenditure on R&D back in 2016 was USD 35.2 billion in the U.K. With the rising number of cesarean surgeries across the world, the demand for C-section retractors have increased.

Moreover, technological developments like the emergence of automation in surgical instruments are predicted to improve minimally invasive surgeries. This has created a high growth potential for the overall market. For instance, the emergence of 3D retractors and atraumatic laparoscopic retractors have ensured greater safety during post-operative complications and surgeries. Moreover, the rising incidences of chronic diseases have boosted the number of surgical procedures, thereby contributing to the growth of the market worldwide.

On the contrary, the high cost of surgery and its products are considered to impede the surgical retractors market growth throughout the appraisal period. Additionally, strict regulations imposed by the FDA for the approval of surgical equipment is considered to vitiate the market growth. Also, the dearth of skilled professionals along with low reimbursement scenarios is some of the other concerns likely to hinder the market growth in the coming years.

Global Surgical Retractors Market: Segmental Analysis
The global surgical retractors market has been segmented on the basis of design, product type, application, product usage, and end user.

By mode of product type, the global surgical retractors market has been segmented into self-retaining retractors, hand retractors, wire retractors, table-mounted retractors, and accessories. Among these, the self-retaining retractors are anticipated to witness the highest CAGR owing to the technological advancements. Also, the increased expenditure on medical instruments is estimated to fuel the segment.
By mode of design, the global surgical retractors market has been segmented into angled or curved frame retractors, fixed or flat frame retractors, and blade or elevated-tipped retractors.

By mode of product usage, the global surgical retractors market has been segmented into tissue handling and dissection and fluid swabbing.

By mode of application, the global surgical retractors market has been segmented into urological, obstetric & gynecological, cardiothoracic, abdominal, head, orthopedic, spinal, neck, aesthetic surgical, and others. Among these, obstetrics & gynecology segment is predicted to occupy the major share owing to the rising incidences of gynecological disorders such as PCOS, cervical cancer, and uterine cancer.

By mode of end-users, the global surgical retractors market has been segmented into ambulatory care centers, hospitals & surgical centers, and others. Among these, the hospitals & surgical centers are likely to dominate the global market as surgeries are mainly performed in hospitals.

Regional Insights
Geographically, the surgical retractors market span across regions namely, Europe, America, Asia-Pacific, and the Middle East & Africa.
Considering the global scenario, America is estimated to dominate the global surgical retractors market and is likely to retain its dominance in the coming years. The growth is credited to the augmenting budget for R&D activities by the commercial pharmaceuticals, government, and biotechnological companies. The increased adoption of advanced technologies has resulted in the market expansion in this region. Moreover, collaboration efforts by several market players have contributed to the growth.

The European region is predicted to occupy the second-largest position in the global market due to the strong presence of academic and research base coupled with the availability of funding for R&D activities in this region. Moreover, with the increased number of plastic surgeons coupled with a favorable regulatory framework, the market is sure to expand in this region.

The Asia Pacific region is likely to experience a significant growth owing to the accelerating demand for better treatment facilities coupled with the rising prevalence of diseases such as obesity and diabetes. Moreover, the constant R&D investment by the major players along with the efforts made commercializes their products are estimated to influence the market growth in this region.

Industry Updates
TeDan Surgical Innovations has offered access to minimally invasive approaches with its flagship product, the Ultravision Retractor Series, such as mini-thoracotomy and mini-sternotomy procedures. The Ultravison CT-1000 Retractor Set comprises an anatomically, unique conforming blade design which is aimed towards reducing the post-operative pain and intra-operative rib trauma.

Surgical Retractors Market Competitive Dashboard

The prominent players operating the global surgical retractors market are Medline Industries Inc., Integra Lifesciences Holdings Corporation, Becton, Henry Schein INC., Teleflex Incorporated, Stryker Corporation, Johnson & Johnson, Terumo Corporation, Invuity Inc., Arthrex Inc., RTI Surgical INC., The Cooper Companies INC., Medtronic, Dickinson and Company, Globus Medical INC., and B. Braun Melsungen AG.

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This release was published on openPR.