Portland,OR, April 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Surgical Retractor Market accounted for $2.68 billion in 2018, and is projected to reach $3.65 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026.
Increase in healthcare expenditure, surge in the prevalence of chronic medical conditions, rise in number of surgical procedures performed across the world, and the presence of large pool of geriatric populations have boosted the growth of the global surgical retractor market. However, high cost of surgical procedures hampers the market growth. On the contrary, untapped potential in the developing economies is expected to create lucrative opportunities in the near future.
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The global surgical retractor market is segmented on the basis of product type, application, and geography. Based on product type, the market is categorized into hand retractor, self-retaining retractors, table-mounted retractors, wire retractors, and accessories. The hand retractor segment held the largest share in 2018, accounting for more than one-third of the total revenue. However, the self-retaining retractors segment is projected to manifest the fastest CAGR of 5.1% during the forecast period.
On the basis of application, the market is divided into abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, obstetric and gynecological surgeries, and others. The cardiothoracic surgeries segment is anticipated to portray the fastest CAGR of 5.5% during the study period. However, the abdominal surgeries segment dominated in 2018, accounting for more than one-fourth of the market.
The global surgical retractor market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to register the highest CAGR of 5.0% during the forecast period. However, the market across North America held the largest share in 2018, accounting for nearly half of the total revenue.
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The global surgical retractor market report discusses an in-depth analysis of the major market players. They include B. Braun Melsungen AG, Baxter International Inc., Dickinson and Company, Becton, Henke-Sass Wolf, Henry Schein, Inc., Novo Nordisk A/S, Integra Lifesciences Holdings Corporation, Medline Industries, Inc., Johnson & Johnson, Teleflex Incorporated, Medtronic Plc., The Cooper Companies, Inc., and Terumo Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.