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(Medical-NewsWire.com, February 12, 2020 ) According to the new market research report "Surgical Retractor Market by Product (Hand-held, Self-retaining, Table-mounted, Wire), Design (Fixed, Angled, Elevated), Application (Abdominal, Cardiothoracic, Orthopedic, OB/GYN, Aesthetic), End User (Hospital, Maternity Center, ACCs) - Forecasts to 2023", published by MarketsandMarkets™, the market is projected to reach USD 2.5 billion by 2023 from USD 1.8 billion in 2018, at a CAGR of 7.2%.
The major factors driving the growth of the Surgical Retractor Market are increasing number of surgical procedures; market availability of specialized and application specific retraction products; continuous expansion of geriatric population; and rising demand for plastic and reconstructive surgeries.
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The hand-held retractors segment is expected to account for the largest share of the Surgical Retractor Market, by product type, in 2018
Based on product type, the Surgical Retractor Market is segmented into hand-held retractors, self-retaining retractors, table-mounted retractors, wire retractors, and accessories. The hand-held retractors segment is expected to account for the largest share of the Surgical Retractor Market in 2018. The availability of a wide range of affordable handheld retractors coupled with significant preference of healthcare providers for these products across the world and large number of surgical procedures (especially abdominal and cardiothoracic procedures) conducted across major healthcare markets is the major factor driving the growth of this market segment.
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The head, neck, and spinal applications segment is expected to witness high growth rate in the Surgical Retractor Market, by application, during forecast period
Based on applications, the Surgical Retractor Market is segmented into abdominal applications; cardiothoracic applications; orthopedic applications; obstetric and gynecological applications; general surgical applications; head, neck, and spinal applications; aesthetic surgical applications, and other applications. The Surgical Retractor Market for head, neck, and spinal application is expected to witness high growth rate in the during forecast period. The growing usage of application specific specialized surgical retractors in spinal surgeries and growth in number of patients with spinal disorders are the major factor driving the growth of this market segment.
Hospitals, clinics, and surgical centers to account for the largest share of the global Surgical Retractor Market, by end user, 2018
Based on end user, the Surgical Retractor Market is segmented into hospitals, clinics, and surgical centers; ambulatory care centers; and maternity and fertility centers. The hospitals, clinics, and surgical center end user segment is expected to account for the largest share during the forecast period. The growing number of surgical procedures across the globe and growth in the number of hospitals, clinics and surgeons providing surgical treatments are the key factors driving the growth of this segment.
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North America to dominate the Surgical Retractor Market during the forecast period
The Surgical Retractor Market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. The North America region is expected to account for the largest share of the global Surgical Retractor Market in 2018, and this trend is expected to continue during the forecast period. Dominant position of North America is mainly attributed to the high number of surgical procedures in the region, the presence of a well-established healthcare system, and on-going investments by hospitals to upgrade operating rooms (including surgical instruments).
As of 2017, major players operating in the global Surgical Retractor Market are JOHNSON & JOHNSON (US), MEDTRONIC PLC (US), BECTON, DICKINSON AND COMPANY (US), STRYKER CORPORATION (US), Terumo Corporation (Japan), HENRY SCHEIN, INC. (US), B. Braun Melsungen AG (Germany), TELEFLEX INCORPORATED (US), INTEGRA LIFESCIENCES HOLDINGS CORPORATION (US), THE COOPER COMPANIES, INC. (US), GLOBUS MEDICAL, INC. (US), RTI SURGICAL, INC. (US), Arthrex, Inc. (US), Invuity, Inc. (US), and Medline Industries, Inc. (US), among others.
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