Number of pages: 100 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
According to the deep-dive market assessment study by Growth Plus Reports, the global surgical retractor market was valued at US$ 2.06 billion in 2022 and is expected to register a revenue CAGR of 7% to reach US$ 4.05 billion by 2031.
Surgical Retractor Market Fundamentals
Surgical retractors are instruments used to hold tissues, organs, or incisions apart, enabling the surgeon to access the surgical site and perform the necessary interventions. Retractors come in various designs and sizes to accommodate different surgical needs. They are typically made of stainless steel or other surgical-grade materials and feature handles or blades for manipulation. Common surgical retractors include hand-held retractors and self-retaining retractors. These instruments are crucial in maintaining optimal exposure and access during surgery.
Surgical Retractor Market Dynamics
The increasing volume of surgical procedures, encompassing both conventional and minimally invasive techniques, serves as a key catalyst for the growth of the surgical retractor market. With the progression of surgical methodologies and a surge in surgical interventions, retractors are urgently required to facilitate tissue retraction and optimal exposure during surgeries. According to the National Center for Biotechnology Information, over 310 million major procedures are performed worldwide every year, approximately 40 to 50 million in the U.S. and 20 million in Europe. Advances in surgical retractors, such as developing ergonomic designs, improved materials, and innovative features, are driving the surgical retractor market growth. The rising prevalence of chronic diseases, including cardiovascular disorders, cancer, and orthopedic conditions, drives the demand for surgical interventions. As a result, the market for surgical retractors is experiencing growth due to the crucial role they play in enabling access to and treatment of affected areas during surgical procedures. The American Academy of Orthopedic Surgeons (AAOS) ninth annual report, 2022 shows an overall cumulative procedural volume increase of 14% over the previous year, with over 2.8 million hip and knee procedures performed since 2012.
There is a growing focus on developing ergonomic retractors that provide surgeons comfort and ease of use. These designs aim to reduce hand fatigue and promote better control during procedures. Additionally, retractors with intuitive features and quick adjustment mechanisms are gaining popularity, enhancing usability and efficiency in the operating room. With a greater emphasis on patient safety and surgical precision, surgeons increasingly rely on high-quality retractors to achieve optimal exposure and reduce the risk of complications. This surgical retractor industry trend is driving the demand for advanced retractors with improved visibility and control during surgery. Moreover, the expansion of healthcare infrastructure, particularly in emerging markets, along with increased healthcare spending, contributes to the demand for surgical retractor.
However, surgical retractors, especially those with advanced features or specialized designs, can be expensive. The high cost is restricting the surgical retractor market growth. The effective use of surgical retractors requires skilled and trained healthcare professionals. However, there is a shortage of skilled surgeons or healthcare providers proficient in using advanced retractors or specialized retractors for specific surgical procedures in developing countries, which is also expected to hamper the surgical retractor market growth.
Surgical Retractor Market Ecosystem
The global surgical retractor market is analyzed from four perspectives: type, application, end user, and region.
Surgical Retractor Market by Type
Based on the type, the global surgical retractor market is segmented into hand-held retractors and self-retaining retractors.
The hand-held retractors segment accounted for the largest surgical retractor market share, with a 51.4% market share in 2022. Hand-held retractors offer versatility in their application across various surgical procedures. They can be used in various surgical specialties, including general surgery, orthopedics, cardiovascular, gynecology, and more. This versatility makes hand-held retractors a preferred choice for surgeons in different fields. Hand-held retractors are simple to use. The intuitive design and ease of handling make hand-held retractors convenient and efficient for surgical teams. Hand-held retractors are often more cost-effective self-retaining retractors. They are generally reusable instruments, which can help reduce the overall cost of surgical procedures, especially in healthcare settings with budget constraints. Hand-held retractors are widely available from various manufacturers and suppliers. They come in different sizes, shapes, and blade configurations to accommodate different surgical needs. The wide availability and accessibility of hand-held retractors make them a popular choice for surgeons and healthcare facilities.
The self-retaining retractors segment is anticipated to register a lucrative growth rate during the forecast period from 2023 to 2031. Self-retaining retractors are designed to hold tissues and organs in place without the surgical team's need for continuous manual manipulation. This feature reduces the strain and fatigue experienced by surgeons during lengthy procedures, allowing them to maintain optimal focus and precision. Self-retaining retractors are specifically designed to provide consistent and reliable retraction, ensuring excellent exposure to the surgical site throughout the procedure. This improved exposure enables better visualization for surgeons, enhancing their ability to perform intricate surgical maneuvers. By eliminating the need for continuous manual retraction, self-retaining retractors contribute to time efficiency in the operating room. Surgeons can focus on other critical aspects of the procedure, potentially reducing the surgical duration and enhancing overall operational efficiency. Certain surgical procedures, such as complex reconstructions or microsurgeries, often require multiple retractors to be placed simultaneously and held in position for extended periods, which is also expected to boost segmental growth.
Surgical Retractor Market by Application
Based on the applications, the global surgical retractor market is segmented into abdominal surgeries, orthopedic surgeries, obstetric & gynecological surgeries, cardiovascular surgeries, urological surgeries, and others.
The obstetric & gynecological surgeries segment accounted for the prominent revenue share of the surgical retractor market, with a 23.7% market share in 2022. The prevalence of gynecological conditions, such as uterine fibroids, endometriosis, ovarian cysts, and pelvic organ prolapse, is significant. These conditions often require surgical interventions, contributing to the demand for surgical retractors in obstetric and gynecological surgeries. According to the WHO, endometriosis affects around 10% (190 million) of reproductive-age women and girls globally. Obstetric and gynecological surgeries encompass many procedures, including hysterectomy, myomectomy, oophorectomy, cesarean section, and pelvic organ prolapse repair. Each procedure requires specific retractors designed to provide optimal exposure and access to the surgical site, leading to a diverse range of retractors in this segment. There has been increasing awareness and acceptance of surgical treatments for gynecological conditions. Patients and healthcare providers are more informed about the benefits of surgery, leading to more procedures and subsequently driving the demand for surgical retractors in this segment. The focus on women's health and well-being has increased, increasing the emphasis on surgical interventions to address gynecological conditions and improve quality of life. This emphasis has increased the demand for surgical retractors in obstetric and gynecological surgeries.
Surgical Retractor Market by End User
Based on the end users, the global surgical retractor market is segmented into hospitals, ambulatory care centers, and others.
The hospitals segment accounted for a significant surgical retractor market share, with 49.2% market share in 2022. Hospitals are the primary healthcare facilities where a large volume and variety of surgical procedures are performed. Surgical retractors are essential tools used across various surgical specialties, including general surgery, orthopedics, cardiovascular, gynecology, and more. The extensive range of surgical procedures performed in hospitals contributes to this segment's high demand for surgical retractors. Hospitals are equipped with advanced infrastructure, operating rooms, and surgical facilities that enable complex surgical interventions. These facilities often have a comprehensive range of surgical instruments, including retractors, to cater to different surgical requirements. The availability of adequate resources and infrastructure in hospitals makes them the primary users of surgical retractors. Hospitals often have centralized procurement systems and engage in bulk purchasing of medical supplies and surgical instruments, including retractors. Bulk purchasing allows hospitals to negotiate better prices and discounts, making it cost-effective to procure surgical retractors. This gives hospitals a competitive advantage and contributes to their growth in the market. Hospitals have a pool of skilled surgeons, surgical teams, and healthcare professionals who perform surgeries regularly. These professionals are trained in using surgical retractors effectively and efficiently.
Surgical Retractor Market by Region
Geographically, the global surgical retractor market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest surgical retractor market size in revenue generation, accounting for around 29.3% market share in 2022. North America has a high volume of surgical procedures driven by factors such as an aging population, a high prevalence of chronic diseases, and advancements in surgical techniques. The growing number of surgical interventions creates a strong demand for surgical retractors to assist tissue retraction and optimal exposure during procedures. According to the CDC, about 6 in 10 individuals in the U.S. are affected with chronic diseases, and 4 in 10 are affected with two chronic diseases. Chronic diseases are the primary causes of death and disability and the primary causes of the nation's US$ 4.1 trillion in annual healthcare costs. North America is at the forefront of technological innovations in the healthcare industry. The region experiences significant investments in research and development, leading to the introduction of advanced surgical retractors with improved designs, materials, and features. Well-established healthcare reimbursement systems in North America, such as Medicare and private health insurance, provide financial support for surgical procedures. This favorable reimbursement environment encourages healthcare facilities to invest in high-quality surgical retractors to enhance surgical outcomes and patient care.
Surgical Retractor Market Competitive Landscape
The prominent players operating in the global surgical retractor market are:
Surgical Retractor Market Strategic Developments
Surgical retractors are instruments used to hold tissues, organs, or incisions apart, enabling the surgeon to access the surgical site and perform the necessary interventions.
Asia Pacific can be considered the key growth region due to the surge in surgical retractor industry trends in China, Japan, and the Indian subcontinent.
The prominent players operating in the global surgical retractor market are Johnson & Johnson, BD (Becton, Dickinson and Company), Stryker Corporation, Terumo Corporation, and Medtronic Plc.
The global surgical retractor market growth is estimated to grow at a revenue CAGR of 7% during the forecast period from 2023 to 2031.
The estimated size of the global surgical retractor market in 2031 is US$ 4.05 billion.
*Insights on financial performance are subject to the availability of information in the public domain