Surgical Retractors Market
Number of pages: 100 | Report Format: PDF | Published date: February 08, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 1.82 billion |
|
Revenue Forecast in 2030 |
US$ 3.29 billion |
|
CAGR |
6.80% |
|
Base Year For Estimation |
2021 |
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Forecast Year |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global surgical retractors market was valued at US$ 1.82 billion in 2021 and is expected to register a revenue CAGR of 6.80% to reach US$ 3.29 billion by 2030.
Surgical Retractors Market Fundamentals
Surgical retractor devices are used to keep an incision or wound open while a surgeon performs surgery. The retractor could potentially be employed during surgery to hold tissues or organs. As a visibility aid, more recent retractor models now feature light attachments. During surgery, self-retaining retractors provide hands-free operating to the surgeon. Self-retaining surgical retractor systems, such as Galaxy II, come in a variety of sizes, including small ones for eye surgeries and large ones for table mounting.
There are majorly two types of retractors. A handheld retractor and a self-retaining retractor. The handheld retractors allow an assistant to move tissue out of the way of the surgical instruments and protect the vital structures during the procedure. Handheld retractors are the most utilized retractors in a surgical procedure. Some of the handheld retractors are Senn, Army-Navy, Ribbon, Hohmann, Farabeuf, Meyerding, Deaver, and Richardson. Self-retaining retractors contain locking mechanisms that maintain the blades' separation and alignment while expanding the incision's edges and holding additional tissue in place, freeing the hands of the surgeon and for other activities. The Weitlaner and Kelpie retractors are two of the most widely utilized self-retaining retractors in abdominal surgeries. Similarly, the Bookwalter and the Balfour are self-retaining abdominal wall retractors that can be connected and detached as required.
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Surgical Retractors Market Dynamics
The global surgical retractors market is primarily driven by increasing number of surgical procedures, such as hysterectomy, cardiovascular surgeries, and orthopedic surgeries, around the world. According to 2021 estimates by National Heart, Lung, and Blood Institute, around 2 million people around the world have open heart surgery every year. Moreover, the number of major surgeries, such as cesarean sections, is consistently increasing every year. In 2022, according to the National Family Health Survey (NFHS). The national C-section delivery rate is 21.5%, which is significantly higher than the ideal 10%-15% recommended by the World Health Organization. This rate is anticipated to increase in the coming years as demand for surgeries increases.
Market players are heavily investing in research and development activities to introduce new and innovative retractors in the global surgical retractors market. For instance, in August 2021, Advanced Surgical Retractor Systems Inc., a US-based medical equipment company, launched exploratory laparotomy with the new TITAN Cestero surgical retractor (CSR). Additionally, market players are also interested in integrating robotics with retractors to increase their product portfolio. Mediflex has been a leader in manufacturing medical devices. The robotic version of 5.0mm Robotic Nathanson Retractors by Mediflex provides full support and retracts the liver for visualization.
However, increasing uptake of minimally invasive surgeries can restrain the revenue growth of the global surgical retractors market. Additionally, the market is likely to show steady growth in low-income countries, due to low healthcare standards and less health awareness.
Surgical Retractors Market Ecosystem
The global surgical retractors market has been analyzed from four perspectives: type, application, end-user, and region.
Surgical Retractors Market by Type
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The global surgical retractors market has been segmented into handheld and self-retaining.
The handheld segment dominated the market in 2021 owing to its high demand, especially in developing countries. Additionally, handheld retractors are best suited in surgeries where a small and precise incision is required, such as tracheotomies and dental surgeries.
The self-retaining segment is expected to continue to grow in the forecast period due to the ease of assistance self-retaining retractors provide during surgical procedures. These surgical retractors improve exposure to surgical sites. New self-retaining retractors are light in weight and easy to use. Additionally, the introduction of single-use self-retaining retractors in the market is supporting the revenue growth of the segment. For instance, Galaxy II self-retaining retractor manufactured by June Medical is a single-use retractor. The product uses less plastic and can be recycled. The Galaxy II self-retaining retractor won the Queen’s Award for Innovation in 2021.
Surgical Retractors Market by Application
Based on the application, the global surgical retractors market is segmented into abdominal surgery, neurosurgery, wound closure, reconstructive surgery, cardiovascular surgery, orthopedic, obstetrics and gynecology, and others.
The abdominal segment is expected to grow rapidly during the forecast period. This is primarily attributed to increasing instances of abdominal surgeries such as hysterectomy. Common self-retaining retractors used in abdominal surgery are Weitlaner and Gelpie Retractors, the Balfour, and Bookwalter Retractors (which can be mounted on a table), the Goligher Retractor, and the Iron Intern. Retractors, in general abdominal surgeries, are also used to reduce surgical site infections. O-ring retractors (Alexis/Mobius) have been demonstrated to minimize the risk of surgical site infection (SSI) during general abdominal surgery. Moreover, retractors in C-section surgeries play a crucial role. The seven layers include the skin, fat, rectus sheath, rectus, parietal peritoneum, loose peritoneum, and finally, the uterus, which is a very thick muscular layer held by surgical retractors which offer proper exposure to the surgical site.
Surgical Retractors Market by End-user
Based on the end-user, the global surgical retractors market is segmented into hospitals, specialty clinics, and ambulatory surgical centers.
The hospital segment accounted for the key revenue share of the market in 2021. This is attributed to high patient footfall in hospitals, the majority of surgical procedures, such as cardiovascular surgeries, neurological surgeries, and abdominal surgeries, are performed in hospitals. Moreover, due to the advanced sterilization systems present in hospitals, retractors can be used conveniently.
Surgical Retractors Market by Region
Regionally, the global surgical retractors market has been segmented into North America, Europe, Asia Pacific, and the Rest of The World.
North America dominated the market with the highest revenue share of the market in 2021. This is primarily due to increasing number of surgical procedures, such as orthopedic surgeries and laparoscopic cholecystectomy, and the introduction of technologically advanced products in the market. According to 2021 estimates by the American College of Surgeons, every year, around 15 million Americans undergo some kind of surgical procedure. On the other hand, over the years, several significant market participants have increased their focus on rolling out new versions and expanding their product portfolio to improve their position in the market. Livas USA, Inc., in September 2021, launched the LiVac retractor, a minimally invasive option for robotic and laparoscopic bariatric procedures.
The Europe surgical retractors market is characterized by increased healthcare standards and a high number of surgical operations in the region. The market for surgical retractors is rapidly increasing in Germany. The presence of many top players in the region, such as Medtronic plc and B. Braun Holdings GmbH, is helping in the expansion of the market in Europe. Moreover, the high demand for surgical procedures in elderly patients is also boosting the revenue growth in the Europe surgical retractors market.
The market in Asia Pacific is expected to register revenue growth at the highest CAGR during the forecast period owing to increase in the adoption of surgical equipment technology in emerging economies of the region. Additionally, increase in the focus of market participants on boosting their R&D activities is expected to fuel the expansion of the surgical retractors market in the region. This aside, the presence of an emerging healthcare infrastructure in countries such as India and China is propelling revenue growth in the Asia Pacific market.
Surgical Retractors Market Strategic Developments
Surgical Retractors Market Competitive Landscape
The prominent players operating in the global surgical retractors market are:
The global surgical retractors market is being driven by increasing number of surgical procedures and rising technological advances.
Becton, Dickinson, and Company (BD), Medtronic plc, Teleflex Incorporated, B. Braun Melsungen AG Innomed Inc., and Thompson Surgical Instruments Inc. are among the top players in the global market.
Increasing uptake of minimally invasive surgeries can restrain the revenue growth of the global surgical retractors market. Additionally, the surgical retractors market is expected to show steady revenue growth in low-income countries, due to low healthcare standards and less awareness.
The global surgical retractors market is expected to register a revenue CAGR of 6.80 % during the forecast period from 2022 to 2030.
The hospital segment accounted for the largest revenue share of the market in 2021.
*Insights on financial performance are subject to the availability of information in the public domain