Rise in Invasive and Minimally Invasive Surgeries Worldwide to Boost Market Growth

Surgical retractors are primarily used to segregate the edges of a wound or a surgical incision to ensure that underlying organs and tissues remain untouched. At present, different types of surgical retractors, including hand retractors, self-retaining retractors, and table-mounted retractors are some of the most utilized surgical retractors. Advancements in technology and science coupled with improvement in the overall living standards of individuals have played a key role in influencing the quality of medical care and the development of various surgical instruments. The demand for minimally invasive surgery continues to expand at a rapid pace around the world due to which, progress minimally invasive surgery techniques are evolving.

Several participants involved in the current surgical retractors are primarily focusing on optimizing the quality and performance of their surgical retractors to expand their market share. Advancements in robotic technology have led to the development of retractor assistant devices. In addition, surgical retractors market players are also exploring the potential of different metals to produce surgical retractors and improve the quality of diagnostic care. In addition, several medical equipment manufacturers are expanding their product portfolio to strengthen their foothold in the current market landscape. At the back of these factors, the global surgical retractors market is expected to reach ~US$ 3.1 Bn by the end of 2030.

Surgical Retractor Market Infographic

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Market Players Inclined Toward Manufacturing Surgical Retractors with Special Metals

The medical technology has evolved at a rapid pace over the past couple of decades. The progress in the medical sector can be largely attributed to the advent of sophisticated metals and alloys that are increasingly being used in external and internal medical applications. The entry of advanced and special metals has led to the development of high-quality medical instruments, including surgical retractors. Research and development activities continue to explore the potential benefits of different metals to produce medical instruments.

Stainless steel is expected to remain one of the most popular materials for the production of an array of medical and surgical instruments, due to its lightweight and exceptional properties that are compatible with the human body. However, in recent years, titanium has emerged as an important metal that increasingly being used to manufacture surgical instruments, including forceps, drills, scissors, and surgical retractors. The growing adoption of titanium to manufacture surgical retractors is expected to provide a boost to the surgical retractors market during the assessment period.

While titanium and stainless steel surgical retractors are likely to have a high market share, players operating in the current surgical retractors market are also exploring the benefits of other special metals, including niobium and tantalum.

Market Participants Focus on Expanding Product Portfolio to Gain Advantage

Over the past decade, several key companies involved in the surgical retractors market are increasingly focusing on launching new variants of surgical retractors and expanding their product portfolio to strengthen their foothold in the market. While the focus on research and development pertaining to the physical design and materials utilized to manufacture surgical retractors is in full swing, market participants are deploying new manufacturing technologies to launch high-quality surgical retractors.

Surgical Retractor Market Segmentation

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For instance, in May 2019, OBP, one of the leading manufacturers of self-contained and single-use medical devices announced the launch of ONETRAC LX - a newly developed single-use cordless surgical retractor that is equipped with a multi-LED light source and dual smoke evacuation channels. The newly developed surgical retractor offers optimum smoke clearance capabilities to nurses and operating surgeons.

Similarly, in January 2018, QSpine, a medical device manufacturers in the U.K. announced the launch of SURE Single Use Retractor– a single-use surgical retractor that provides optimum operating conditions at the surgical site.

Demand for Surgical Retractors Likely to Remain Steady amid COVID-19 Pandemic

The onset of the novel COVID-19 pandemic is expected to have a short-term impact on the global surgical retractor market. Several countries have imposed stringent lockdown measures and restrictions on transportation and cross-border trade due to which, surgical retractors market players are expected to address bottlenecks across the supply chain. However, as medical services and devices are listed under essential goods, the production of surgical retractors is anticipated to remain unaffected in several regions of the world.

Despite large-scale emphasis being given to the treatment of COVID-19 patients, the demand for medical devices and medication required to treat other medical conditions continues to grow due to which, the surgical retractors market is expected to witness steady growth. Product diversification is projected to remain the key during the ongoing COVID-19 pandemic and thus, market players are expected to assess and identify various pockets of opportunities to generate revenue.

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Analysts’ Viewpoint

The global surgical retractors market is expected to expand at a CAGR of ~5% during the forecast period. The market growth is largely driven by research & development activities, technological advancements in the manufacturing techniques, entry of new metals and materials, expanding healthcare ecosystem worldwide, and rise in the number of invasive as well as minimally invasive surgeries worldwide. Market players should ideally focus on expanding their product portfolio and improve the quality of their products to gain an advantage in the current market landscape.

Surgical Retractors Market: Overview

  • Surgical retractors help surgeons and operating room professionals to hold an incision or wound open during surgical procedures. These instruments aid in holding back underlying organs or tissues, allowing doctors/nurses better visibility and access to the exposed area.
  • 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.
  • The global surgical retractors market has experienced significant growth in the last decade due to factors such as rise in the number of surgical procedures and increase in global geriatric population
  • Different types of surgical retractors are used in surgical procedures, including hand-held retractors, self-retaining retractors, and table-mounted retractors

Surgical Retractors: Market Drivers

  • Rise in the number of surgeries drives demand for surgical retractors. According to the CDC, 32% of all live births in the U.S. were cesarean deliveries. Cesarean section is one of the most common procedures performed in the European Union (EU). This procedure is performed 1.4 million times in Europe each year. Globally, 21% of babies are born via C-section and around 32.7% of babies in Australia are born via C-section. Increase in the number of injury cases is also one of the factors attributed to the growth of the global surgical retractors market during the forecast period.
  • Leading players focus on developing new innovative surgical retractors for surgical procedures. Technological advancements is another factor fueling the growth of the global surgical retractors market. Such advancements in medical devices and equipment have transformed operative procedures in the last few decades. Introduction of devices such as illuminated, single-use, laparoscopic retractors is a key example. Manufacturers such as Symmetry Surgical provide surgical retractors according to various types of surgical procedure such as abdominal, cardiovascular, neurology, orthopedics, and others.

Market Segmentation: Surgical Retractors Market

  • In terms of product type, the global surgical retractors market has been categorized into hand-held retractors, self-retaining retractors, table-mounted retractors, and others
  • Based on application, the global surgical retractors market has been classified into abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, obstetric & gynecological surgeries, and others
  • In terms of end user, the global surgical retractors market has been divided into hospitals, ambulatory surgical centers, and others
  • Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The report provides current and future revenue (US$ Mn) for each of these segments from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.

Regional Overview: Surgical Retractors Market

  • In terms of region, the global surgical retractors market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
  • The current and future market value in terms of revenue (US$ Mn) of these regional markets and major countries have been provided in the report from 2018 to 2030, along with their CAGRs from 2020 to 2030
  • The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and existing companies to increase market shares and help in the decision-making process

Major Players

  • The report concludes with the company profiles section, which includes key information about major players in the market
  • Leading players analyzed in the report include 
  • Medtronic plc
    • Stryker
    • Terumo Corporation
    • Integra LifeSciences
    • Ethicon (Johnson & Johnson Services, Inc.)
    • BD
    • Teleflex Incorporated
    • B. Braun Melsungen AG
    • Invuity, Inc.
    • Medline Industries, Inc.
  • Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

Surgical Retractors Market – Scope of the Report

TMR’s report on the global surgical retractors market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global surgical retractors market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global surgical retractors market from 2020 to 2030.

The report is prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involved reaching out to key players’ product literature, annual reports, press releases, and relevant documents to understand the surgical retractors market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global surgical retractors market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global surgical retractors market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global surgical retractors market.

The report delves into the competition landscape of the global surgical retractors market. Key players operating in the global surgical retractors market are identified and each one of these is profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global surgical retractors market that are profiled in this report.

Key Questions Answered in Surgical Retractors Market Report

  • What is the sales/revenue generated by surgical retractors across all regions during the forecast period?
  • What are the opportunities in the global surgical retractors market?
  • What are the major drivers, restraints, opportunities, and threats in the global market?
  • Which regional market is set to expand at the fastest CAGR during the forecast period?
  • Which product type segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  • What are the market positions of different companies operating in the global market?

Surgical Retractors Market – Research Objectives and Research Approach

The comprehensive report on the global surgical retractors market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Surgical Retractors Market – Segmentation

TMR’s study on the global surgical retractors market includes information divided into four segments: product type, application, end user, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global surgical retractors market are discussed in detail.

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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