The global Surgical Retractors Market was valued at around US$ 1.8 Billion in 2021. With a projected CAGR of 8% for the next ten years, the market is likely to reach a valuation of nearly US$ 4.1 Billion by the end of 2032. The key driving force behind the market's expansion is the rising number of operations performed as a result of trauma, hip and knee replacements, and chronic conditions including cardiovascular illnesses where surgery is essential.
| Attributes | Details |
|---|---|
| Global Surgical Retractors Market Size (2021A) | US$ 1.8 Billion |
| Estimated Market Value (2022E) | US$ 1.9 Billion |
| Forecasted Market Value (2032F) | US$ 4.1 Billion |
| Global Market Growth Rate (2022 to 2032) | 8% CAGR |
| United States Market Growth Rate (2022 to 2032) | 8.9% CAGR |
| Key Companies Covered |
|
Future Market Insights’ analysis reveals that in 2022 revenue through the Surgical Retractors Market is estimated at US$ 1.9 Billion. The global consumer base can choose from more than 20 thousand products in the surgical retractor market.
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The global market for the Surgical Retractors Market expanded at a CAGR of 5.9% from 2017 to 2021. Around 1.3 Million people die in traffic accidents annually, according to the World Health Organization's Global Status Report on Road Safety 2020. In addition, 20 to 50 Million more persons suffer non-fatal injuries, with many of them leading to disabilities. The sale of surgical retractor products globally is significantly impacted by this. The USA will continue to be the largest user of the Surgical Retractors Market throughout the analysis period accounting for over US$ 663 Billion absolute dollar opportunity in the coming 10-year period.
The Centers for Disease Control records that close to 32% of all newborns were born in the USA in 2018. The operation, which occurs over 1 million times every year across Europe, is among the most commonly performed medical procedures worldwide. More than 19 percent of newborns in Australia and 21% of children across the globe were delivered via C-section that year. The global market for surgical retractors has grown significantly due in large part to C-section surgery.
One of the most significant factors resulting in the worldwide growth of surgical retractors is the increase in instances of injury. In 14 national registrations from 50 countries, around 507,000 surgical procedures are carried out every year, according to the International Federation of Societies for Surgery of the Hand (IFSO) Global Registry Report 2021. This number has been increasing continuously, hence it will positively impact the surgical retractor market.
The overall population over the age of 60 is expected to rise from 9.2% in 1990 to 11.7% in 2013 and then further to 21.1% by 2050, according to the Department of Economic and Social Affairs Population Division. The likelihood of chronic diseases is increased in people over the age of 60. Surgery is the key treatment for long-term diseases. These elements will aid in the market's rapid expansion.
Principal Consultant
The regulatory body's main goal is to reduce any dangers brought on by manufacturers' noncompliance with standards. The design, manufacture, testing, labeling, promotion, and sales of the devices, as well as the keeping of records and traceability by the maker, are all subject to the probable denigration of the items' fit, form, and function.
Being governed by federal, state, and local environmental laws and regulations, manufacturers must also clean up contamination linked to the production of these materials at facilities and off-site disposal sites. These laws and regulations cover the emission, discharge, use, storage, and disposal of hazardous materials. Due to the high cost of this setting and compliance is essential. The additional expense is reflected in the product's retail price, which ranges from US$ 150 to US$ 350.
The price of raw surgical stainless steel 304 reached an eleven-year high of about US$ 3 per kilogram. When compared to the figure from March 2021, this implies an increase of more than 45%. The manufacturer's income has been significantly reduced as a result of the fluctuation in the price of raw materials. This is one of the factors limiting the growth of the surgical retractor market.
Due to an expanding surgical population and an improved healthcare infrastructure, Asia Pacific is predicted to account for the highest CAGR. The key causes of this expansion are the rise in preventive procedures and the prevalence of chronic conditions like cancer, diabetes, and autoimmune diseases.
The All India Institute of Medical Science (AIIMS) reports that the institute performed approximately 0.2 Million procedures, making it the institution that performed the most surgeries globally that year. In addition, West China Medical Center of Sichuan University Hospital in China is the second-largest hospital in the world after Chang Gung Memorial Hospital in Taiwan, which has 10 thousand beds.
The use of specialized retractors in a variety of unusual surgeries and market strategies adopted by the key market players to expand their businesses in the Asia-Pacific region, such as those used by companies like MPM Medical Supply, which operates out of Germany and exports high-quality stainless steel retractors made there, is anticipated to drive the market's overall growth over the forecast period.
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The USA will account for over US$ 1.1 Billion of the global Surgical Retractors Market by the end of the forecast year 2032. The expense of healthcare in the USA increased from 4% of the GDP in the 1960s to almost 19.7% of the GDP in 2020. Nearly 15% of Americans have chronic renal disease, according to the Centers for Disease Control and Prevention. As a result, it is anticipated that the increasing incidence of chronic diseases would increase the requirement for surgical intervention, which will increase demand for surgical retractors and create an absolute dollar growth potential of US$ 663 Million.
The market in the United Kingdom is projected to reach a valuation of US$ 1609 Million by 2032. Growing at a CAGR of 6.9% from 2022 to 2032, the market in the country is expected to register an absolute dollar opportunity of US$ 6.9%.
In Japan, the market is expected to grow at a CAGR of 9.3% from 2022 to 2032 to reach a valuation of US$ 202 Million by 2032. The market is further expected to gross an absolute dollar opportunity of 118 Million during the forecast period.
The market in South Korea is expected to reach a valuation of US$ 82.4 Million by 2032. Growing at a CAGR of 8% from 2022 to 2032, the market is projected to garner an absolute dollar opportunity of US$ 44 Million.
The growth through the Neurosurgery segment expanded at a CAGR of 7.3% over the last four years (2017 to 2021). With a projected CAGR of 10.7% for the forecasted years. According to the World Federation of Neurology, these illnesses claim the lives of 12.0% of all neurology patients each year.
The WHO also projects an increase in the number of Disability-Adjusted Life Years lost globally from 95 Million in 2015 to 103.0 Million in 2030 as a result of neurological illnesses. One of the main and only therapy options for neurological issues is surgery. The dominance of the neurosurgery segment in the surgical retractor market is mostly due to the rise in neurological surgeries and the strong demand for surgical retractors specifically made for these procedures.
The key companies operating in the Surgical Retractors Market include Baxter International Inc., B. Braun Melsungen AG, The Cooper Companies, Inc., Terumo Corporation, Teleflex Incorporated, Medtronic Plc., Medline Industries INC., Johnson & Johnson, NOVO NORDISK, Integra Lifesciences Holdings Corporation, HENKE-SASS WOLF, Henry Schein, Inc., Dickinson and Company, Conmed Corporation, SKLAR Surgical Instruments., Teleflex Incorporated., Olympus Corporation, Thompson Surgical, Arthrex, Inc., Microsurgical Technology, STRYKER CORPORATION, GLOBUS MEDICAL, Applied Medical Resources Corporation, Innomed, Inc., LiNA Medical ApS, Vivo Surgical Private Limited, and Changzhou Haiers Medical Devices Co. Ltd.
Some of the recent developments by key providers of the Surgical Retractors Market are as follows:
Similarly, recent developments related to companies manufacturing Surgical Retractors Market have been tracked by the team at Future Market Insights, which is available in the full report.
The global market was valued at US$ 1.8 Billion in 2021.
The market is set to witness a growth rate of 8% over the forecast period and be valued at US$ 4.1 Billion by 2032.
The Surgical Retractors Market expanded by 5.9% from 2017 through 2021.
The key players in the market are Medtronic, Becton Dickinson, and Company, Medical Devices Business Services Inc., and Teleflex Incorporated.
The USA, United Kingdom, China, Japan, and South Korea are expected to drive the most sales growth in the Surgical Retractors Market.
The Surgical Retractors Market in China accounts for US$ 7.8 Billion of the global market share by end of the forecast year.
The USA has the largest market share of the Surgical Retractors Market with US$ 663 Million of absolute Dollar opportunity.
1. Executive Summary | Surgical Retractors Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2022 to 2032
5.3.1. Handheld
5.3.2. Self-retaining
5.4. Y-o-Y Growth Trend Analysis By Type, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Type, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2022 to 2032
6.3.1. Abdominal retractor
6.3.2. Finger retractor
6.3.3. Nerve Retractor
6.3.4. Orthopedic Retractor
6.3.5. Rectal Retractor
6.3.6. Thoracic retractor
6.3.7. Ribbon retractor
6.3.8. Other Product Types
6.4. Y-o-Y Growth Trend Analysis By Product Type, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Product Type, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application Size
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application Size, 2017 to 2021
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application Size, 2022 to 2032
7.3.1. Neurosurgery
7.3.2. Wound closure
7.3.3. Reconstructive surgery
7.3.4. Cardiovascular
7.3.5. Orthopedic
7.3.6. Obstetrics and Gynecology (Ob/GYN)
7.3.7. Other Applications
7.4. Y-o-Y Growth Trend Analysis By Application Size, 2017 to 2021
7.5. Absolute $ Opportunity Analysis By Application Size, 2022 to 2032
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-Use, 2017 to 2021
8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-Use, 2022 to 2032
8.3.1. Hospitals
8.3.2. Ambulatory Surgical Centers
8.3.3. Clinics
8.4. Y-o-Y Growth Trend Analysis By End-Use, 2017 to 2021
8.5. Absolute $ Opportunity Analysis By End-Use, 2022 to 2032
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021
9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa(MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. USA
10.2.1.2. Canada
10.2.2. By Type
10.2.3. By Product Type
10.2.4. By Application Size
10.2.5. By End-Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Product Type
10.3.4. By Application Size
10.3.5. By End-Use
10.4. Key Takeaways
11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Type
11.2.3. By Product Type
11.2.4. By Application Size
11.2.5. By End-Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Product Type
11.3.4. By Application Size
11.3.5. By End-Use
11.4. Key Takeaways
12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. United Kingdom
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Type
12.2.3. By Product Type
12.2.4. By Application Size
12.2.5. By End-Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Product Type
12.3.4. By Application Size
12.3.5. By End-Use
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Malaysia
13.2.1.5. Singapore
13.2.1.6. Australia
13.2.1.7. New Zealand
13.2.1.8. Rest of Asia Pacific
13.2.2. By Type
13.2.3. By Product Type
13.2.4. By Application Size
13.2.5. By End-Use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Type
13.3.3. By Product Type
13.3.4. By Application Size
13.3.5. By End-Use
13.4. Key Takeaways
14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of Middle East and Africa(MEA)
14.2.2. By Type
14.2.3. By Product Type
14.2.4. By Application Size
14.2.5. By End-Use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Type
14.3.3. By Product Type
14.3.4. By Application Size
14.3.5. By End-Use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Type
15.1.2.2. By Product Type
15.1.2.3. By Application Size
15.1.2.4. By End-Use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Type
15.2.2.2. By Product Type
15.2.2.3. By Application Size
15.2.2.4. By End-Use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Type
15.3.2.2. By Product Type
15.3.2.3. By Application Size
15.3.2.4. By End-Use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Type
15.4.2.2. By Product Type
15.4.2.3. By Application Size
15.4.2.4. By End-Use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Type
15.5.2.2. By Product Type
15.5.2.3. By Application Size
15.5.2.4. By End-Use
15.6. United Kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Type
15.6.2.2. By Product Type
15.6.2.3. By Application Size
15.6.2.4. By End-Use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Type
15.7.2.2. By Product Type
15.7.2.3. By Application Size
15.7.2.4. By End-Use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Type
15.8.2.2. By Product Type
15.8.2.3. By Application Size
15.8.2.4. By End-Use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Type
15.9.2.2. By Product Type
15.9.2.3. By Application Size
15.9.2.4. By End-Use
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Type
15.10.2.2. By Product Type
15.10.2.3. By Application Size
15.10.2.4. By End-Use
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Type
15.11.2.2. By Product Type
15.11.2.3. By Application Size
15.11.2.4. By End-Use
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Type
15.12.2.2. By Product Type
15.12.2.3. By Application Size
15.12.2.4. By End-Use
15.13. Malaysia
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Type
15.13.2.2. By Product Type
15.13.2.3. By Application Size
15.13.2.4. By End-Use
15.14. Singapore
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Type
15.14.2.2. By Product Type
15.14.2.3. By Application Size
15.14.2.4. By End-Use
15.15. Australia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Type
15.15.2.2. By Product Type
15.15.2.3. By Application Size
15.15.2.4. By End-Use
15.16. New Zealand
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Type
15.16.2.2. By Product Type
15.16.2.3. By Application Size
15.16.2.4. By End-Use
15.17. GCC Countries
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Type
15.17.2.2. By Product Type
15.17.2.3. By Application Size
15.17.2.4. By End-Use
15.18. South Africa
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Type
15.18.2.2. By Product Type
15.18.2.3. By Application Size
15.18.2.4. By End-Use
15.19. Israel
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Type
15.19.2.2. By Product Type
15.19.2.3. By Application Size
15.19.2.4. By End-Use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Type
16.3.3. By Product Type
16.3.4. By Application Size
16.3.5. By End-Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Medtronic
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Becton, Dickinson, and Company (BD)
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Medical Devices Business Services Inc.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Teleflex Incorporated
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Surgical Retractors Market
