Global surgical retractors market is projected to witness a CAGR of 6.56% during the forecast period 2024-2031F, growing from USD 2.21 billion in 2023 to USD 3.67 billion in 2031F. The growth of the market is supported by the increasing prevalence of chronic diseases, rising preference for minimally invasive procedures, increasing geriatric population, and growing emphasis on research and development activities.
Increasing investments in research and development activities is one of the major global surgical retractors market trends. Such developments are aiding the market's growth as they support the development of economically efficient surgical retractors that aid in increasing the efficiency of the surgeons. For instance, in 2022, a low-cost retractor for transforaminal lumbar interbody fusion was 3D printed for facilitating the pedicle screw insertion and increase the comfort of the surgeon. The retractor was produced with a 3D printer and was designed with the help of 3D modeling software. The retractor was tested on patients that were undergoing transforaminal lumbar interbody fusion and displayed satisfactory results. Such developments will positively influence the growth of the market over the forecast period.
The rise in the number of surgical procedures is bolstering the demand for surgical retractors and augmenting the growth of the market. The growing prevalence of various chronic diseases and disorders are propelling the number of surgeries performed every year by boosting the requirement for different surgical interventions such as bariatric surgery, cataract surgery, and cesarean section. Moreover, the rapid expansion of geriatric population is yet another major factor increasing global surgical retractors market size as they have complex medical requirements and often require major joint, ear, abdominal surgery, or others.
Increasing Emphasis on the Development of Technologically Advanced Surgical Retractors Boosts Market Growth
The rise in investments in the development of technologically advanced surgical retractors by various manufacturers and key players of the market is aiding the expansion of the market in various regions across the globe. Such developments will support the development of economical surgical products which in turn will increase the affordability of various surgical procedures and increase convenience of the user. For instance, the research team led by the University of Leeds (England) in partnership with medical device manufacturers and surgeons have designed a new retractor that would work well in a low-resourced healthcare setting. The innovative retractor known as RAIS (Retractor for Abdominal Insufflation-less Surgery) went through five design iterations before the prototype was developed and tested. During the clinical evaluation, the device was used in twelve laparoscopic operations in six cases where gall bladders were removed, four cases of appendicitis, and two hysterectomies. Development of such innovative products will provide lucrative growth opportunities to the market in the coming years.
Rising Requirement for Surgical Procedures Bolsters Global Market Demand
The growing requirement for different surgical procedures can be attributed to the rapid expansion of the geriatric population. The World Health Organization (WHO) estimates that by 2030, one in six individuals will be aged 60 years or older and by 2050, the global population of individuals aged 60 and above will be approximately 2.1 billion. This growth will propel the requirement for different surgical procedures as older people have complex medical requirements, boosting the demand for surgical retractors. Additionally, the requirement for surgical procedures is increasing due to growing prevalence of chronic health conditions such as cardiovascular and orthopedic diseases.
Furthermore, according to the estimates of the Center for Disease Control and Prevention the rate of cesarean delivery rose from 32.1% in 2022 to 32.4% in 2023. This increase is expected to augment the demand for surgical retractors and support the market growth.
North America Holds Significant Share of the Market
The strong presence of various market players, rising preference for technologically advanced devices, and growing prevalence of chronic diseases and disorders is boosting the growth of North America surgical retractors market. The rise in preference for minimally invasive procedures coupled with increasing research and development activities are further supporting the growth of the market.
In 2021, a trauma surgeon and clinical professor from UT Health San Antonio, invented a new design for abdominal surgical retractors to improve patient outcomes and advance surgical procedures. The innovative product called TITAN CSR combines ample exposure with speed. The product can be set up in six seconds and does not need to be mounted to a table. The device's exposure and speed will increase the surgeons' efficiency. The development of such technologically advanced retractors will support the growth of the market in North America, positively influencing the expansion of the market.
Orthopedic Retractors Hold Significant Share of the Market
The expansion of the segment can be attributed to the rising requirement for hip and knee replacement procedures owing to increasing geriatric population and rise in number of accidents. Additionally, due to the increasing prevalence of diabetes mellitus, neuropathy, trauma, and peripheral vascular disease the requirement for amputation is growing. The level of amputation usually depends on the viability of soft tissue utilized for obtaining bone coverage. According to the estimates of researchers from the University of Tennessee and St Thomas West Hospital, approximately 1,50,000 patients undergo lower extremity amputation in the United States every year. The increase in patients coupled with a rise in prevalence of different health conditions, such as diabetes mellitus, is boosting the requirement for surgical retractors and augmenting the market's growth.
Hospitals Account for Significant Global Surgical Retractors Market Share
The expansion of the segment can be attributed to the growing burden of chronic diseases and disorders and increase in the number of preventive surgeries that are performed in the hospitals. New partnerships between hospitals and medical device companies is further supporting the growth of the segment. For instance, in April 2023, June Medical announced supply deal with 1600 hospitals in the United States. The company supplied their Galaxy II self-retaining surgical retractors. The device was originally designed for urological and gynecological surgeries and allows single-handed adjustments without screws because of its self-retaining cam lock system.
It in turn, removes the reliance on assistants to help in holding the sites on the body open to allow greater flexibility for personnel tasks in the operating room. The device is available in multiple frames with semi-blunt, blunt, and sharp hooks and finds usage in a plethora of surgeries. This partnership will aid the US hospital group in overcoming various challenges associated with the traditional devices and improve the surgical outcomes. Such partnerships of the medical device distributors and hospitals are supporting the expansion of the segment and boosting the growth of the market.
Future Market Scenario (2024 – 2031F)
According to global surgical retractors market analysis, the anticipated developments in surgical retractors include integration of artificial intelligence, utilization of materials with enhanced biocompatibility, and availability of precision-guided robotic systems. Additionally, after the successful development of a low-cost surgical retractor for facilitating the pedicle screw insertion in transforaminal lumbar interbody fusion surgeries by using a 3D printer in 2022, future models will be produced for thoracic spine and cervical surgeries. Such developments will positively influence the expansion of the market over the forecast period.
Report Scope
“Surgical Retractors Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global surgical retractors market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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The major factors driving the growth of the surgical retractors 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.The report Surgical Retractor Market is projected to reach USD 2.5 billion by 2023 from USD 1.8 billion in 2018, at a CAGR of 7.2%.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121697708Market Segmentation:- Based on product type, the surgical retractors 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 retractors 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.Based on applications, the surgical retractors 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 retractors market for head, neck, and spinal application is expected to witness high growth rate in the during forecast period.Based on end user, the surgical retractors 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.Regional Analysis: -The surgical retractors market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World.
