Market Size of Surgical Retractors Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 7.10 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Retractors Market Analysis
The surgical retractors market is expected to register a CAGR of 7.1% over the forecast period.
The COVID-19 pandemic resulted in the cancellation of many surgeries, which had a temporary impact on the market. Surgical procedures were delayed, and the number of surgical procedures decreased. According to a study published in December 2021 by JAMA Network Open, the overall rate of surgical procedures decreased by 48.0% during the initial shutdown of elective procedures compared to the same period in 2019 in the United States. This decline in surgical procedures led to decreased demand for surgical retractors. The selection of patients for urgent surgery during the pandemic was vital to ensure that patients had post-operative reserves to combat any possibility of being infected with COVID-19. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic affected the market's growth. However, the postponed surgeries resumed worldwide, which has been driving the market's growth during the post-pandemic period.
The number of surgical procedures due to trauma, hip and knee replacements, and chronic diseases such as cardiovascular diseases where surgery is mandatory is growing. This is the primary growth factor for the surgical retractor market. For instance, as per the research study published in June 2021 by the Journal of Thoracic and Cardiovascular Surgery, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340 in 2020. Hence, the high number of heart procedures and operations being performed is expected to boost the growth of the surgical retractors market during the forecast period.
The consistent rise in the geriatric population may boost the market's growth. According to the WHO updates from October 2022, one out of every six people on the planet will be 60 years of age or older by 2030. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will have doubled to reach 2.1 billion. During 2020-2050, the number of people aged 80 and above is expected to triple, reaching 426 million. Since this age group is more vulnerable to chronic disorders and surgeries, the growing geriatric populace across the world is expected to boost the market's growth. An increase in organ transplants may support the market's growth. According to the data published by the HSRA in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in the United States in 2021.
Various initiatives taken by the key market players, such as product launches, mergers, acquisitions, and partnerships, are expected to boost the market's growth during the forecast period. In April 2021, Medtronic PLC formed a partnership to interface Surgical Theater's SyncAR augmented reality (AR) technology with Medtronic's StealthStation S8 surgical navigation system. This collaboration will enable neurosurgeons to use AR technology in real-time to enhance visualization during complex cranial procedures and possibly the placement of retractors and other surgical instruments during surgeries.
The above-mentioned factors are expected to drive the market's growth across the world. However, the lack of sufficient reimbursement and the increasing preference for minimally invasive surgery are expected to hamper the growth of the surgical retractor market during the forecast period.
Surgical Retractors Industry Segmentation
As per the scope of the report, surgical retractors are the instruments used during surgical procedures to separate and hold the edges of a surgical incision or wound. These are also called surgical distractors. As per the scope of the report, surgical retractors are handheld or self-retained and used for many surgical procedures.
The surgical retractors market is segmented by type (handheld and self-retaining), application (orthopedic retractors, abdominal retractors, cardiothoracic retractors, obstetric or gynecological retractors, and others), end user (hospitals and ambulatory surgical centers), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
By Type | |
Hand Held | |
Self Retaining |
By Application | |
Orthopedic Retractors | |
Abdominal Retractors | |
Cardiothoracic Retractors | |
Obstetric or Gynaecological Retractors | |
Other Applications |
By End User | |
Hospitals | |
Ambulatory Surgical Centers |
Geography | ||||||||
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Surgical Retractors Market Size Summary
The surgical retractors market is poised for significant growth, driven by an increasing number of surgical procedures globally. The market experienced a temporary setback during the COVID-19 pandemic due to the postponement of elective surgeries, which reduced the demand for surgical retractors. However, the resumption of postponed surgeries has been a key factor in the market's recovery and growth. The rising incidence of trauma, hip and knee replacements, and surgeries for chronic conditions like cardiovascular diseases are primary contributors to the market's expansion. Additionally, the growing geriatric population, which is more susceptible to chronic disorders requiring surgical intervention, is expected to further propel market growth. The increase in organ transplants also supports this upward trend, as more procedures necessitate the use of surgical retractors.
North America is anticipated to lead the surgical retractors market, with the United States playing a pivotal role due to its large patient base and the high volume of surgical procedures performed. The region's market growth is fueled by the rising prevalence of cardiovascular disorders, obesity, and injuries from road accidents, all of which require surgical interventions. The market is characterized by intense competition and fragmentation, with key players focusing on product innovation, strategic partnerships, and geographical expansion to enhance their market presence. Notable companies such as Johnson & Johnson (Ethicon), Becton, Dickinson and Company, and Medtronic Plc are actively involved in launching new products and technologies to meet the evolving needs of the surgical community. Despite challenges like insufficient reimbursement and a shift towards minimally invasive surgeries, the market is expected to continue its growth trajectory over the forecast period.
Surgical Retractors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Number of Surgical Procedures Worldwide
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1.2.2 Increasing Geriatric Population and Lifestyle Related Diseases
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1.3 Market Restraints
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1.3.1 Lack of Sufficient Reimbursement
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1.3.2 Increasing Preference Towards Minimally Invasive Surgery
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Hand Held
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2.1.2 Self Retaining
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2.2 By Application
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2.2.1 Orthopedic Retractors
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2.2.2 Abdominal Retractors
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2.2.3 Cardiothoracic Retractors
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2.2.4 Obstetric or Gynaecological Retractors
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2.2.5 Other Applications
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Surgical Retractors Market Size FAQs
What is the current Surgical Retractors Market size?
The Surgical Retractors Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in Surgical Retractors Market?
Johnson and Johnson (Ethicon) , Becton, Dickinson and Company , B. Braun Melsungen AG, Medtronic Plc and Cook Medical are the major companies operating in the Surgical Retractors Market.