Surgical Retractors Market to reach US $2.7 billion by 2028 - Global Insights on Key Trends, Competitive Landscape, COVID-19 Impact Analysis, Growth Drivers and Future Outlook: Adroit Market Research
Adroit Market Research
5 min read
North America dominated the global surgical retractors market in 2019, however Asia Pacific is expected to grow at a highest pace through 2028
Dallas, Texas, Nov. 23, 2020 (GLOBE NEWSWIRE) -- The “Global Surgical Retractors Market By Product (Hand-Held Retractors, Self-Retaining Retractors, Table-Mounted Retractors and Others), By Application (Abdominal Surgeries, Cardiothoracic Surgeries, Obstetric & Gynecological Surgeries, Cosmetic & Reconstructive Surgeries, Orthopedic Surgeries, and Others), By End-users (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Global Forecast 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
Adroit Market Research report on global surgical retractors market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global surgical retractors market have been studied in detail.
The global surgical retractors market is projected to reach an approximate value of USD 2.7 billion by 2028, growing at a CAGR of 4.7%. Increasing volume of surgical procedures performed across the globe, rapidly growing geriatric population, rapid technologically advancements are factors driving the surgical retractors market.
Retractors play a crucial role in surgical procedures. Surgical retractors are available in different sizes, shapes and designs. Surgical retractors enable surgeons to better navigate in deep or minimally-open cavities during surgical operations. Surgical retractors helps to retract, expose or hold back tissue, organs, muscle, or bone for surgical exposure. Wide range of surgical retractors are available in the market including hand-held, self-retaining and table-mounted retractors. Hand-held retractors requires constant holding, while the self-retaining type can be inserted, set and left unattended for short periods of time. Increase in geriatric patient pool susceptible to chronic disorders will fuel the need for surgical procedures, thereby accelerating the demand for surgical retractors. Moreover, rapid technological advancements such as launch of application specific retractors is anticipated to fuel the growth of the market in the future.
The global surgical retractors market has been segmented based on product type, application, end-users, and region. Based on product type, the global surgical retractors market is categorized into hand-held retractors, self-retaining retractors, table-mounted retractors and others. Hand-held retractors segment dominated the global market in 2019. Table-mounted retractors segment is anticipated to grow at a rapid pace over the forecast period due to its wide applications, high reliability, easy access, and visibility of the surgical site. On the basis of application, the global surgical retractors market is segmented into abdominal surgeries, cardiothoracic surgeries, obstetric & gynecological surgeries, cosmetic & reconstructive surgeries, orthopedic surgeries, and others. On the basis of end-users, hospitals and clinics segment grabbed dominant share of the market in 2019 owing to an increasing number of surgical procedures carried out in hospitals, large patient pool, availability of wide range of surgical instruments, including retractors, along with growing prevalence of major chronic diseases that require surgery.
North America dominated the global surgical retractors market in 2018. High prevalence of chronic disorders, surging procedural volume in the U.S. and presence of large geriatric population in the region are key factors likely to drive the growth of the market in the next few years. According to the American Society of Plastic Surgeons (ASPS), in 2018, approximately 24,000 buttock augmentation and 313,735 breast augmentation surgeries were performed in the U.S. alone. However, Asia Pacific surgical retractors market is anticipated to grow at a rapid pace over the forecast period owing to presence of large patient pool and rise in cosmetic surgeries across the region. Increase in geriatric population vulnerable to chronic disorders will propel surgical volume thereby, driving the demand for surgical retractors in the next few years.
Major players operating in the global surgical retractors market include Johnson & Johnson Services, Inc., Teleflex Incorporated, Becton, Dickinson, and Company, Stryker Corporation, B. Braun Melsungen AG, Medtronic plc, Integra Life Sciences Holdings Corporation, Medline Industries Inc., Henry Schein and Sklar Surgical Instruments among others.
About Us: Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
