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.
The global 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%.
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Growth Driver: Increasing number of surgical procedures worldwide
Surgical retractors are widely used in open surgeries, endoscopy, dermatology, ophthalmology, and dentistry. Over the years, the affordability and accessibility of surgical care have increased, leading to a significant rise in the number of surgical procedures performed utilizing surgical retractors. The increasing prevalence of chronic diseases and a subsequent rise in surgical procedures have increased the demand for advanced surgical equipment, including surgical retractors.
Opportunity: High growth opportunities in emerging markets
Emerging countries (such as China, Brazil, Mexico, and India) present significant growth opportunities for players in the market. The demand for surgical retractor devices in these countries is increasing owing to the rapid growth in healthcare infrastructure, increasing public and private healthcare expenditure, and growth in medical tourism. Additionally, the rising number of well-skilled surgeons, coupled with a sharp rise in target surgical procedures across these countries, is also poised to contribute to overall demand growth. Other emerging countries are also witnessing rapid modernization of their healthcare facilities and the expansion of healthcare infrastructure. This factor is contributing to the increased procurement of medical devices and surgical instruments.
Market Segmentation:
The handheld retractors segment accounted for the largest share of the surgical retractors market, by product in 2021.
Based on product, the global surgical retractors 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.
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.
Regional Analysis:
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 surgical retractors market in the Asia Pacific region.
Recent Developments of Surgical Retractors Industry:
In 2022, Henry Schein acquired acquire Condor to expand its dental distribution business in Switzerland.
In 2020, Henry Schein entered into an agreement with the Dentists Supply Company and this was aimed to form a new entity - TDSC.com, an online-only option for purchasing dental supplies that will serve the state dental association members.
In 2019, Integra LifeSciences acquired Rebound Therapeutics to develop innovative products to address the unmet needs in neurosurgery.
In 2019, Stryker Corporation acquired Mobius Imaging and Cardan Robotics to expand its presence in the orthopedics, spine, and neurotechnology divisions using advanced imaging and robotics as well as a wide product pipeline.
Top Key Players:
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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