Surgical Retractors Market Anticipated to Reach a Global Valuation of US$ 3.1 Billion by 2030, Growing at a Steady CAGR of 5.0%: Transparency Market Research Inc.

Wilmington, Delaware, United States, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The surgical retractors market on a global scale is poised for growth, with a projected CAGR of 5% spanning from 2020 to 2030, as indicated by TMR's report. The market is expected to reach a valuation of US$ 3.1 billion by 2030, while in 2023, it is forecasted to be around US$ 2.3 billion.

The rising incidence of chronic diseases, such as cancer and diabetes, often necessitates surgical intervention. As the prevalence of these conditions continues to grow, so does the demand for surgical retractors in oncology, general surgery, and other specialties.

Higher healthcare spending, particularly in developed countries, has led to greater investment in advanced surgical equipment and instruments, including surgical retractors. Hospitals and surgical centers are willing to invest in high-quality retractors to enhance patient outcomes and surgical efficiency.

With the growing popularity of cosmetic and aesthetic surgeries, such as breast augmentation, facelifts, and liposuction, the demand for specialized retractors to achieve precise results, is expected to increase during the forecast period.

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Market Snapshot:

Key Takeaways from the Market Study

• As of 2022, the surgical retractors market was valued at US$ 2.1 billion.

• By application, the obstetric and gynecological surgeries segment to enjoy high demand, accumulating a high revenue share during the forecast period.

• Based on product type, the handheld retractor segment is anticipated to dominate the industry during the forecast period.

• Based on end-users, the hospital's segment is expected to generate high revenue during the forecast period, due to the increased number od surgical procedures performed in hospitals.

Surgical Retractors Market: Key Trends and Opportunistic Frontiers

• The growing aging global population has led to an increase in surgical procedures, particularly orthopedic and cardiovascular surgeries, which frequently require surgical retractors.

• Hand-held retractor is the most commonly used surgical device. Generally, hand-held retractors are composed of a blade that may be flat, curved, or hook-like with a broad handle to be held by hand.

• Increased awareness among healthcare professionals about the benefits of using the right surgical instruments, including retractors, has led to their wider adoption. Training programs and educational initiatives promote the use of advanced retractors in surgical practice.
  

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Surgical Retractors Market- Regional Analysis

• North America, is a prominent market for surgical retractors. The growth of the market in the region is attributed to a well-established healthcare system, a high number of surgical procedures, and a strong presence of leading medical device manufacturers. The demand for advanced surgical instruments, including retractors, remains robust.

• The Asia Pacific remains a significant market for surgical retractors. Increasing demand for minimally invasive surgical procedures and the growing prevalence of chronic disorders drive the market demand in the region. Substantial growth in the healthcare industry, increased healthcare spending, and increased demand for surgical retractors in orthopedic and general surgery drive the market demand.

Competitive Landscape

The global surgical retractor market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global surgical retractor market report:

• Medtronic plc
• Stryker
• erumo Corporation
• Integra LifeSciences
• Ethicon (Johnson & Johnson Services, Inc.)
• BD
• Teleflex Incorporated
• B. Braun Melsungen AG
• Invuity, Inc.
• Medline Industries, Inc.  

Key Developments in the Surgical Retractors market

• In 2021, Integra LifeSciences introduced a new product called "Integra Luxtec® 4K-Hi-D Surgical Lighting System." While not a retractor itself, this advanced lighting system is designed to enhance visibility during surgeries, making it a valuable complement to surgical retractors.

• B. Braun has been focusing on expanding its surgical instruments portfolio, including retractors. They have made efforts to enhance the ergonomics and user-friendliness of their surgical instruments to improve surgeon comfort and patient outcomes.

• J&J Instruments, a subsidiary of Symmetry Surgical, has been working on innovative surgical instrument solutions. They have focused on creating surgical retractors with improved designs, materials, and precision to facilitate various surgical procedures.

• Thompson Surgical, known for its retractor systems, has continued to refine and expand its portfolio. They have introduced advanced retractor systems for use in minimally invasive spine surgeries, catering to the growing demand for these procedures.

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Surgical Retractors Market – Key segments

Product Type  

• Hand-held Retractors 
• Self-retaining Retractors 
• Table-mounted Retractors 
• Others 

Application  

• Abdominal Surgeries 
• Cardiothoracic Surgeries 
• Orthopedic Surgeries 
• Obstetric & Gynecological Surgeries 
• Others 
  

End-User 

• Hospitals 
• Ambulatory Surgical Centers 
• Others 
  

Region  

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East & Africa 
  

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