Surgical Retractors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Surgical Retractors Market is Segmented by Type (Handheld and Self Retaining), Application, End-User and Geography

Surgical Retractors Market Snapshot

Surgical Retractors Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7 %

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Market Overview

The Surgical Retractors market is expected to register growth at a CAGR of 7% during the forecast period.

The growing number of surgical procedures due to the trauma, hip, knee replaces and chronic diseases such as cardiovascular diseases where the surgery is mandatory is the primary growth factor for the surgical retractors market. Furthermore, there has been a rise in the percentage of the older population all around the world.

The older population is more prone to chronic diseases hence requires surgical procedures to improve their health. Moreover, the higher the aging population, the higher the probability of a number of diseases they carry. This indirectly impacts the surgical retractors market. According to IFSO Global Registry Report 2018, 394,431 operations are performed in 18 single centers, 19 multi-center submissions, and 14 national registries from 51 countries. According to the European Union Statistic, during 2016-2017, in Germany, hip replacement surgery was performed 304 times per 100,000 individuals. In Austria and Finland, it was around 273 and 265 per 100,000, respectively.

Moreover, advancements in surgical technologies have transformed the operative procedure over the period. The advancements are aiding the adaptability of the surgical options and hence driving the surgical retractors market. However, stringent regulatory policies and low reimbursement scenario and lack of skilled professionals in developing economies anticipated to impede the market growth over the forecast period.

Scope of the Report

Surgical retractors are the instruments used during the surgical procedures used to separate and hold the edges of a surgical incision or wound. These are also called as surgical distractors. As per the scope of the report, surgical retractors are handheld or self-retained and used for many surgical procedures.

By Type
Hand Held
Self Retaining
By Application
Orthopaedic Retractors
Abdominal Retractors
Cardiothoracic Retractors
Obstetric or Gynaecological Retractors
Others
By End-User
Hospitals
Ambulatory Surgical Centers
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Orthopaedic Retractors are Expected to Register High CAGR

Among the application segment, orthopaedic retractors are anticipated to register significant CAGR owing to the growing number of orthopaedic procedures due to the rising number of accidents, hip and knee replacement procedures around the world.

According to the Global Status Report On Road Safety 2018 by World Health Organization (WHO), approximately 1.35 million people die from road accidents every year. Furthermore, 20 to 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury.

Furthermore, advancements in the product technologies, companies effort in improving the product quality and increasing adoption anticipated to boost the segment growth in the near future.

For instance, OBP Medical Corporation has launched Single-Use cordless surgical retractor ONETRAC LX, with the integrated illuminator.

On the other side, in the end-user segment, hospitals are expected to have the notable market share owing to the high volume of operative procedures developing the infrastructure due to the advent of chain hospitals and growing spending on infrastructure.

Moreover, owing growing demand of the surgical procedures, the number of surgeons also projected to grow, that intern anticipated to boost the market growth for surgical retractors market.

Surgical retractors market 2

The Asia Pacific Expected to Show a High Growth Rate During the Forecast Period

Among the regions, Asia Pacific is anticipated to have a high CAGR owing to improving healthcare infrastructure and growing geriatric population and an increasing number of surgeries.

According to All India Institute of Medical Science (AIIMS), the Institute has performed 1.94 lakh surgeries in 2018 and has become the institute, who has performed maximum surgeries across the world in 2018. Additionally, the rising technological advancement in the field of surgeries and market strategies adopting by the major market players to expand their business in Asia-Pacific region are expected to propel the overall growth of the market over the forecast period.

In addition, North America has been projected to have a significant market share owing to well-established healthcare infrastructure, constant growth in the number of surgical procedures, presence of key market players and rapid adoption of advanced technologies. Hence all these factors are found boosting the overall market growth.

Surgical Retractors Market - Growth Rate by Region-image

Competitive Landscape

Surgical retractors market is highly fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion to strengthen its market share. For instance, In June 2018, Safe Orthopaedics Acquires UK Distributor Qspine and strengthened its market position in surgical retractors space. The key market players include Johnson and Johnson (Ethicon), Becton, Dickinson and Company, B. Braun Melsungen AG, Medtronic Plc, and Cook Group Incorporated among others.

RECENT DEVELOPMENTS

  • In May 2021, OBP Medical Corporation had announced the launch of a new spin-off company called OBP Surgical Corporation, which will continue to reinvent the everyday tools that surgeons rely on by integrating single-use LED lighting technology into unique intracavity cordless devices.
  • In April 2021, Medtronic plc had announced a partnership to interface Surgical Theater's SyncAR augmented reality (AR) technology with Medtronic's StealthStation S8 surgical navigation system. This collaboration will enable neurosurgeons to use AR technology in real-time to enhance visualization during complex cranial procedures.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Number of Surgical Procedures Worldwide

      2. 4.2.2 Increasing Geriatric Population and Lifestyle Related Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Sufficient Reimbursement

      2. 4.3.2 Increasing Preference Towards Minimally Invasive Surgery

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Hand Held

      2. 5.1.2 Self Retaining

    2. 5.2 By Application

      1. 5.2.1 Orthopaedic Retractors

      2. 5.2.2 Abdominal Retractors

      3. 5.2.3 Cardiothoracic Retractors

      4. 5.2.4 Obstetric or Gynaecological Retractors

      5. 5.2.5 Others

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Johnson and Johnson (Ethicon)

      2. 6.1.2 Becton, Dickinson and Company

      3. 6.1.3 B. Braun Melsungen AG

      4. 6.1.4 Medtronic Plc

      5. 6.1.5 Cook Group Incorporated

      6. 6.1.6 Safe Orthopaedics

      7. 6.1.7 OBP Medical Corporation

      8. 6.1.8 Teleflex Incorporated

      9. 6.1.9 Medline Industries

      10. 6.1.10 BR Surgical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Surgical Retractors Market market is studied from 2018 - 2026.

The Surgical Retractors Market is growing at a CAGR of 7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Johnson and Johnson (Ethicon) , Becton, Dickinson and Company , B. Braun Melsungen AG, Medtronic Plc , Cook Medical are the major companies operating in Surgical Retractors Market.

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