Global Surgical Retractors Market, by Type (Handheld and Self-retaining), by Product (Abdominal Retractor, Finger Retractor, Nerve Retractor, Orthopedic Retractor, Rectal Retractor, Thoracic retractor, Ribbon Retractor, and Others), by Application (Neurosurgery, Wound Closure, Reconstructive Surgery, Cardiovascular, Orthopedic, Obstetrics and Gynecology (Ob/Gyn), and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1779.3 million in 2021 and is expected to exhibit a CAGR of 6.6% during the forecast period (2021-2028).
Market players are engaged in providing information for the first surgery that was performed using their surgical retractors. For instance, on August 12, 2021, Advanced Surgical Retractor Systems, a medical device company making advancements in surgical retractor technology, announced the first exploratory laparotomy with the new TITAN CSR. The TITAN CSR is a lightweight titanium surgical retractor which is used for emergency and trauma surgeries. The first exploratory laparotomy using the TITAN CSR was performed at University Hospital, part of University Health in San Antonio, Texas. The doctors informed that, using surgical retractors, they were able to achieve rapid access to the patient’s abdominal cavity with superior exposure, which allowed them to quickly identify and further control life-threatening sources of bleeding.
Rise in the number of elderly population is expected to increase the growth of the market over the forecast period. For instance, according to the World Population Ageing, 2017, the following graph compares the number of elderly people (in millions) in 2017 and 2050. From the graph it can be concluded that, the elderly population is expected to double in 2050 when compared to the elderly population in the year 2017. This is expected to increase the growth of the global surgical retractors market over the forecast period.
Global Surgical Retractors Market- Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus (COVID-19) pandemic is expected to hamper growth of the global surgical retractors market over the forecast period. COVID-19 is the recent pandemic outbreak which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared coronavirus (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the cumulative number of cases reported globally is now nearly 216 million and the cumulative number of deaths is just under 4.5 million, on August 29, 2021.
For instance, according to the guidelines published in the American College of Surgeons: March 24, 2020, COVID 19 Pandemic Breast Cancer Consortium updated the guidelines for the management of breast cancer during the COVID-19 pandemic. The consortium did not give permission for the hospitals to carry out breast mastectomy, as the hospital resources such as ventilator and others surgical instruments are completely diverted for the COVID-19 management. This guideline is expected to hamper the growth of the surgical retractors market growth over the forecast period.
Browse 39 Market Data Tables and 27 Figures spread through 176 Pages and in-depth TOC on Global Surgical Retractors Market, by Type (Handheld and Self-retaining), by Product (Abdominal Retractor, Finger Retractor, Nerve Retractor, Orthopedic Retractor, Rectal Retractor, Thoracic Retractor, Ribbon Retractor, and Others), by Application (Neurosurgery, Wound Closure, Reconstructive Surgery, Cardiovascular, Orthopedic, Obstetrics and Gynecology (Ob/Gyn), and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Key players are indulged in launching surgical retractors, which is expected to increase the growth of the global surgical retractors market over the forecast period. For instance, in 2017, Healthcare Global Enterprises, an Indian company, launched ‘Ravi Retractors’, a novel retractor which is used to perform neck dissections. Ravi Retractor was manufactured to help perform neck dissections and plastic surgery (free Flaps) in patients with early oral cancers where neck nodes are cleared for safety as an oncology protocol. This left an unwanted scar in majority of patients, when the cancers have not spread to neck.
Key Takeaways of the Surgical Retractors Market:
- The global surgical retractors market is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028), owing to growth in potential markets, especially in Europe. While North America region accounted for the major market share.
- Rising number of caesarean section procedures in Europe is expected to drive the market growth during the forecast period. For instance, according to Eurostat, European statistics: 2018, in 2018, around 1.4 million caesarean sections procedures were carried out in Europe.
- Some of the major players operating in the global surgical retractors market include Medtronic Plc, Becton, Dickinson and Company, Medical Devices Business Services, Inc., Teleflex Incorporated, Medline Industries, Inc., B. Braun Melsungen AG, Applied Medical Resources Corporation, Thompson Surgical, Innomed, Inc., LiNA Medical ApS, Vivo Surgical Private Limited, BVI, CooperSurgical Inc., Stryker Corporation, Mediflex Surgical Products, Applied Medical Technology, Inc., and Changzhou Haiers Medical Devices Co., Ltd.
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