Chicago, July 29, 2022 (GLOBE NEWSWIRE) -- Surgical Retractors Market is projected to reach USD 2.8 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 6.7%, according to a new report by MarketsandMarkets™. The increasing number of surgical procedures worldwide, the rising prevalence of chronic diseases along with a significant rise in the geriatric population and the availability of specialized retraction products are some of the key factors driving the market for surgical retractors.
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The emergence of the COVID-19 pandemic has changed the delivery of medical care. The increased pressure due to the growing rate of hospitalization of COVID-19 patients led to the re-profiling of many hospitals and departments for treating patients with COVID-19. Consequently, many elective surgeries were canceled or postponed worldwide to reserve or redirect the available limited capacities and resources (like hospital beds and patient care professionals) toward COVID-19 patient care and to reduce the spread of the virus, which hindered the surgical retractors market. The manufacturing of medical devices such as surgical retractors was significantly impacted as major economies were severely affected due to the spread of COVID-19 infections. However, the procedural volume for surgeries increased post-pandemic during 2021–2022 due to the backlog that emerged from this delay. In the post-pandemic period, hospitals have ramped up surgical operations with improved safety protocols, and surgery rates began to revive, which led to an increase in the adoption of surgical retractors by surgeons.
The handheld retractors segment accounted for the largest share of the surgical retractors market, by product in 2021.
Based on product, the global surgical retractor market is segmented into handheld retractors, self-retaining retractors, table-mounted retractors, wire retractors, and retractor accessories. In 2021, the handheld retractors segment accounted for the largest share of this market. This is mainly due to the growing number of surgical procedures globally and the availability of affordable hand-operated surgical retractors.
The tissue handling and dissection segment is expected to register the highest CAGR during the forecast period
Based on usage, the surgical retractors market is segmented into tissue handling and dissection, and fluid swabbing. The highest growth of the tissue handling and dissection segment can be attributed to the increased handling of tissues, organs, and ligaments around the surgical area with the increasing number of surgical procedures globally.
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The head, neck, and spinal surgeries segment is expected to register the highest CAGR in the surgical retractors application market during the forecast period
Based on application, the surgical retractors market is 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 segment is expected to witness the highest growth during the forecast period. This can be attributed to the increasing incidence of spinal disorders across the globe, which in turn has resulted in the growing volume of surgical procedures performed.
The ambulatory care centers segment to witness the highest growth during the forecast period
Based on end users, the surgical retractors market is segmented into hospitals, clinics, and surgical centers, ambulatory care centers, and maternity and fertility centers. The ambulatory care centers segment is expected to register the highest growth during the forecast period due to the increased adoption of getting treated in ambulatory care settings due to the cost-effective treatment offered.
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The Asia Pacific region is expected to witness the highest growth during the forecast period
Asia Pacific is expected to witness the highest growth during the forecast period due to presence of high-growth markets such as India, China, and Japan, the implementation of favorable government initiatives, and rapid growth in the geriatric population, are some of the major factors that are expected to drive the growth of the market in the Asia Pacific region.
The prominent players in the Surgical Retractors Market are: 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).
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