Surgical Retractors Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2924
Surgical Retractors Market size is expected to grow significantly from 2018 to 2024.
Surgical retractors market is anticipated to grow significantly over the forecast timeframe and market growth can be attributed to the increasing healthcare expenditures globally. High preference for surgeries especially by geriatric population prone to various chronic disorders will drive the surgical retractors market growth. According to John Hopkins, over 51 million surgical procedures were performed that will escalate the demand for surgical retractors and drive surgical retractors market growth.
Technological advancements in the surgical retractor instruments will trigger the surgical retractors industry growth in the near future. Key industry players focus their efforts on developing new surgical retractor instruments. For instance, Medtronic developed VALLEYLAB retractable laparoscopic electrodes that have enhanced features and have high precision improve the surgical performance thereby, escalating the surgical retractors industry in foreseeable future.
Self-retaining segment of surgical retractors market accounted to enormous market share in 2017 and is expected to witness high demand over the upcoming years. Self-retaining instruments reduce complications during the surgical procedures that also allows hands-free surgery for operations thus, driving its demand over the forthcoming years.
Cardiovascular segment of surgical retractors market is expected to grow at high rate due to increasing geriatric population that suffers from cardiovascular problems. According to American College of Cardiology, there were around 800,000 deaths in the U.S. due to heart failure that should escalate the demand for surgical retractors devices elevating segmental growth.
Ambulatory surgical centers segment will have enormous growth in upcoming years owing to increase in the number of out-patient surgery admissions. Ambulatory surgical centers provide additional benefit such as surgeries at affordable cost and less recovery time that will accelerate the segmental growth. In 2017, in U.S, around 22 million surgeries were performed and out of the total, 52.7% were performed in the ambulatory surgical centers that escalates the segmental growth.
U.S. surgical retractors market will experience high growth market growth due to growing healthcare expenditures out of which, majority account for surgical procedures. According to Agency for Healthcare Research and Quality, in 2014, there were around 17.2 million hospital visits and majority of the patients underwent surgical procedures that had positive impact on the regional market growth. Also, high adoption rate of technology in the surgical retractor instruments will assure enormous market growth over the estimated forecast timeframe.
Prominent industry players are Johnson & Johnson, Becton Dickinson, Teleflex, B.Braun, Medtronic, Thompson Surgical, MicroSurgical Technology, Medline, Sklar Industries, BR Surgicals. These key industry players implement various strategic initiatives such as mergers, acquisitions and new product launch that render them with competitive advantage. For instance, Medtronic has focused its efforts on developing retractable electrodes integrated with advanced technology that will help the company to maintain its market share.
Surgical Retractors Market by Type, 2013-2024 (USD Million)
Surgical Retractors Market by Application, 2013-2024 (USD Million)
- Wound closure
- Reconstructive surgery
- Orthopedic surgery
- Obstetrics & Gynecology
Surgical Retractors Market by End-use, 2013-2024 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Johnson & Johnson
- Becton Dickinson
- Teleflex Incorporated
- B.Braun Melsungen AG
- Thompson Surgical
- MicroSurgical Technology
- Medline Industries
- Sklar Surgical Instruments
- BR Surgicals
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