Surgical Retractor Market 2023-2030: Understanding Growth Drivers and Challenges
The global Surgical Retractor Market, valued at USD 1.3 billion in 2021, is projected to witness substantial growth and reach USD 2.1 billion by 2028, with a CAGR of 6.4% during the forecast period. The market growth is primarily driven by several factors, including the increasing availability of specialist retraction products, a surge in the number of surgical procedures performed worldwide, rising prevalence of chronic diseases, and a growing aging population.
Access Full Report: https://www.fairfieldmarketresearch.com/report/surgical-retractormarket
Rising Demand for Surgical Retractors
The demand for surgical retractors is on the rise as the number of surgical procedures continues to increase globally. According to the Centers for Disease Control and Prevention (CDC), 32% of all live births in the U.S. involve cesarean sections, making it one of the most common medical operations in the country. Similarly, in Europe, 1.4 million cesarean sections are performed annually, and around 32.7% of newborns in Australia and 21% worldwide are delivered via C-section. This growing trend of surgical procedures contributes significantly to the expansion of the surgical retractor market.
Impact of COVID-19
The global surgical retractor market experienced a short-term impact due to the outbreak of the COVID-19 pandemic. Lockdown measures and travel restrictions in certain regions resulted in supply chain bottlenecks. However, as medical services and equipment were classified as essential items, the production of surgical retractors continued in many parts of the world. Despite the focus on treating COVID-19 patients, the market for surgical retractors is expected to steadily expand due to the increasing demand for medical equipment and medications to address other medical conditions. Market participants are encouraged to explore different revenue-generating opportunities to adapt to the changing market landscape.
Drivers and Restraints
The global increase in surgical operations is a major driver propelling market expansion. Advancements in medical technology, coupled with improved accessibility and affordability
of surgical treatments, have led to a higher number of surgical procedures involving surgical retractors. Moreover, the expansion of product portfolios by market players through partnerships and inorganic activities has also contributed to market growth. For instance, the collaboration between JUNE MEDICAL and Vivo Surgical resulted in the introduction of the Galaxy II LUX self-retaining ring retractor with light, enhancing visibility and access to surgical sites.
On the other hand, the growing preference for minimally invasive and non-invasive surgical techniques over traditional open surgeries has posed a challenge to the surgical retractor market. Minimally invasive surgeries offer several advantages, including faster recovery times, reduced postoperative complications, and less pain, which has led to their increasing popularity over the past decade.
Segment Overview
Abdominal surgeries dominate the market due to a higher requirement for surgical retractors in these procedures. The need for larger surgical incisions in abdominal surgeries necessitates the use of surgical retractors to improve visualization and access to operated organs. Additionally, cardiothoracic surgeries are anticipated to grow at the fastest rate during the forecast period due to a rise in heart-related illnesses worldwide. Handheld retractors currently constitute the largest portion of the market, primarily due to their widespread use in plastic and minor bone and joint procedures. Conversely, the selfretaining retractors segment is expected to witness the fastest growth, as these retractors allow surgeons to operate with both hands, enhancing surgical convenience.
Regional Landscape
North America is set to dominate the market, driven by a high surgical rate, an aging population, and the availability of specialized and application-specific products. The region's well-established medical infrastructure and continuous investments in upgrading operating rooms and surgical tools further contribute to its market dominance. However, Asia Pacific is predicted to experience a high CAGR, supported by the growing elderly population, expanding healthcare infrastructure, and rising number of surgical procedures.
Leading Players
The global surgical retractor market is highly competitive, with key players such as Becton, Dickinson and Company, B. Braun Melsungen AG, Integra LifeSciences, Teleflex Incorporated, Medtronic plc, Johnson & Johnson, Stryker Corporation, Henry Schein, Inc., and others striving for market share through strategic partnerships and innovative product offerings.
Email: sales@fairfieldmarketresearch.com