What Will The Surgical Retractors Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s surgical retractors market report forecasts the surgical retractors market size to grow to $3.13 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
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Surgical Retractors Market Size Forecast
The global surgical retractors market is expected to grow from $2.19 billion in 2022 to $2.38 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The surgical retractors market size is expected to grow to $3.13 billion in 2027 at a CAGR of 7.1%.
North America held the largest surgical retractors market share.
Key Surgical Retractors Market Driver – Increase In Number Of Surgical Procedures
For instance, according to the American Society for Aesthetic Plastic Surgery, a US-based organization devoted to aesthetic plastic surgery and cosmetic medicine, in the US, surgical procedures increased by 54% in 2021. Therefore, the increasing number of surgical procedures is driving the growth of the surgical retractor market.
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Key Surgical Retractors Market Trend – Technological Advancement
Major companies operating in the surgical retractors market are introducing new technologies to sustain their position in the market. For instance, in August 2021, Advanced Surgical Retractor Systems Inc., a US-based medical equipment company launched exploratory laparotomy with the new TITAN Cestero surgical retractor (CSR), an advancement in surgical retractor technology. The TITAN CSR combines multiple retractors in one novel device and is designed to integrate with Bookwalter blades. It provides optimal exposure to deep and retroperitoneal structures boasting a 50x faster setup speed.
Surgical Retractors Market Segment
1) By Type: Handheld, Self-retaining
2) By Design: Fixed or Flat-Frame Retractors, Angled or Curved-Frame Retractors, Blade or Elevated-Tip Retractors
3) By Usage: Tissue Handling And Dissection, Fluid Swabbing
4) By Application: Neurosurgery, Wound Closure, Reconstructive Surgery, Cardiovascular, Orthopedic, Obstetrics And Gynecology, Others Applications
5) By End User: Hospitals And Surgical Centers, Ambulatory Care Centers, Other End Users
Surgical Retractors Market Major Players and Strategies
Major players in the surgical retractors market are B. Braun, Becton, Dickinson and Company, Henry Schein Inc., Integra Lifesciences Holdings Corporation, Johnson & Johnson Private Limited, Medline Industries Inc., Medtronic PLC., Teleflex Incorporated, Terumo Corporation, The Cooper Companies Inc., Applied Medical Resources Corporation, Arthrex Inc., Stryker Corporation, Bausch Health Companies Inc., Enovis Corporation, and Globus Medical Inc.
In April 2022, Carl Zeiss Meditec AG, a Germany-based medical technology company acquired Kogent Surgical LLC and Katalyst Surgical LLC for an undisclosed amount. This acquisition would help Carl Zeiss Meditec AG to its businesses grow, enhance its surgical solution portfolio, and bring in more recurring income. Kogent Surgical LLC is a US-based renowned innovator in the medical device industry with a focus on microsurgical instruments, surgical site illumination, and electrosurgery. Katalyst Surgical LLC is a US-based company specializing in titanium ophthalmic surgical instruments.
The Surgical Retractors Global Market Report 2023 covers regional data on surgical retractors market size, surgical retractors market trends and drivers, opportunities, strategies, and surgical retractors market competitor analysis. The countries covered in the surgical retractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Surgical retractors are the medical instruments that are used during a surgical procedure to keep the area of incision or surgery open. The device improves visibility and contributes to a more effective surgical procedure. The surgical retractors are used to hold an incision or wound open while a surgeon works.
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