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Global Surgical Retractors Market Sets Sights on Balanced Growth: Aiming for a CAGR of 6-7% Over the Forecast Period

Health

Factors driving the market include an increase in the number of surgical operations performed worldwide, an increase in the geriatric population, developments in surgical technology, an increase in organ transplants, and the availability of sophisticated specialty retractor devices.

Surgical retractors are medical instruments that enlarge incisions during surgery, increasing visibility by drawing back tissues and organs, and preventing harm during the process.

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Technological Advancements and Growth in the Number of Surgeries Fuels Demand for Surgical Retractors Market

Over the years, there have been several technological advancements in surgical retractors which is fuelling its demand. For instance

  • In November 2023, JUNE Medical’s Galaxy II® self-retaining surgical retractor has obtained Medical Device Regulation (MDR) certification from BSI Group for use in the European Union, indicating its excellent quality and safety. The device finds use in ENT, paediatrics, dentistry, vascular operations, and other surgical specialties.
  • In August 2021, The new TITAN CSR represents the first significant development in surgical retractor technology in almost 50 years, according to Advanced Surgical Retractor Systems, Inc. The TITAN CSR is a lightweight titanium surgical retractor that gives trauma and emergency surgeons with 50 times faster setup speed and excellent exposure without a post or table connection.
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The surge in demand for surgical interventions addressing trauma, hip and knee replacements, and chronic ailments like cardiovascular diseases is another key factor propelling the growth of the surgical retractor market.

Rise in plastic and reconstructive surgeries, organ transplants, and the geriatric population boosts Surgical Retractors Market growth

Surgical retractors are utilized during plastic and reconstructive surgery to retract skin, tissues, and muscles. They help to hold back underlying organs or tissues, giving healthcare professionals better vision and access to the exposed region. According to the International Society of Aesthetic Plastic Surgery (ISAPS), despite the COVID-19 epidemic, plastic surgeons’ treatments increased by 11.2% in 2022. Over 14.9 million surgical and 18.8 million non-surgical operations were carried out worldwide. With an estimated increase in plastic and reconstructive procedures worldwide, the market for surgical retractors is expected to expand in the future years.

The growing older population is a potential stimulus for business development. According to WHO estimates from October 2022, one in every six people worldwide would be 60 or older by 2030. This figure is expected to increase from one billion in 2020 to 1.4 billion by 2050. The worldwide population of those aged 60 and above is forecast to double to 2.1 billion by 2050, while the number of those aged 80 and up is expected to treble, reaching 426 million between 2020 and 2050. Given this age group’s vulnerability to chronic illnesses and procedures, the growing older population globally is expected to boost market growth. According to HSRA data from March 2022, approximately 40,000 organ transplants were conducted in the United States in 2021, including 26,670 kidney transplants and 9,236 live transplants.

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Competitive Landscape Analysis of the Surgical Retractors Market

Some of the key players operating in the market include Teleflex Incorporated, Terumo Corporation, Medline Industries, Inc., CooperSurgical, Integra Lifesciences Holdings Corporation, Medtronic, Plc., Henry Schein, Inc., B Braun Melsungen Ag, Becton, Dickinson and Company, among others.

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Surgical Retractors Market

Players operating in this market are adopting organic and inorganic growth strategies such as launching new products, acquiring related firms, and entering into collaborations to garner higher market share. For instance,

  • In November 2023, Microline Surgical, Inc., a subsidiary of HOYA Corporation, acquired the rights to certain laparoscopic instrumentation assets from RETRACTION Limited. The acquisition included REVEEL branded products which are used by surgeons for liver retraction in laparoscopic surgeries

The Surgical Retractors Market is expected to grow further in the coming years due to rising demand for plastic and reconstructive surgeries, high growth opportunities in emerging countries, increasing usage in outpatient surgeries, rising healthcare expenditures, and aggressive organic and inorganic growth strategies adopted by the players.

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Get Customized Research Report on the Surgical Retractors Market @ https://meditechinsights.com/surgical-retractors-market/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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