Allied Market Research recently published a report, “Surgical Retractor Market by Product Type, Application: Global Opportunity Analysis and Industry Forecast, 2019–2026,” According to the report, the surgical retractor market was valued at $2 billion in 2018, and is expected to reach $3 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.
One of the major factors contributing to the growth of the surgical retractor market is the increase in the number of surgical procedures across the globe. Moreover, other factors such as rise in healthcare costs and increase in the prevalence of acute medical conditions requiring surgical procedures for treatment are driving the growth of the surgical retractors market.
Additionally, the rise in the aging population across the globe is another major factor contributing to the growth of the market. However, the implementation of strict regulations by the FDA for the approval of surgical devices restricts the growth of the surgical retractor market.
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By product type, hand retractors hold the largest share of the surgical retractors market due to increasing adoption of these devices in plastic surgery and minor bone and joint surgeries. Hence, the increase in the number of plastic surgeries worldwide is a major factor driving the growth of this segment.
By application, the abdominal surgery segment accounts for the largest share of the market, as the number of abdominal surgeries worldwide has increased. Moreover, abdominal surgery involves a large incision to get a better view of the organs involved in the surgery. Hence, there is a high demand for surgical retractors in abdominal surgery, which is driving the growth of the market.
Major Key Market Players in the Industry –
- Baxter International Inc.,
- Braun Melsungen AG,
- Becton,
- Dickinson and Company,
- Henry Schein, Inc.,
- Henke-Sass Wolf,
- Integra Lifesciences Holdings Corporation,
- Novo Nordisk A/S,
- Johnson & Johnson,
- Medline Industries, Inc.,
- Medtronic Plc.,
- Teleflex Incorporated,
- Terumo Corporation,
- The Cooper Companies, Inc.
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Key findings of the study –
- Hand retractors accounted for approximately one-third of the market in 2018.
- North America accounted for approximately half of the market share in 2018 and is expected to maintain this trend throughout the forecast period.
- The cardiothoracic surgery segment is expected to grow at the fastest CAGR from 2019 to 2026.
- The self-retaining retractors segment is expected to grow at a rapid CAGR during the forecast period.
Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of surgical retractor market report ?
Q2. What would be forecast period in the market report?
Q3. What is the market value of surgical retractor market in 2019?
Q4. Which is base year calculated in the surgical retractor market report?
Q5. Which are the top companies hold the market share in surgical retractor market?
Q6. What are the key trends in the surgical retractor market?
Q7. What is the market growth % of surgical retractor market?
Q8. Which segment holds the maximum market share of the surgical retractor market?
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