Surgical Retractor Market is projected to reach USD 2.5 billion by 2023


Posted January 27, 2021 by rahulg1122

Surgical Retractor Market is projected to reach USD 2.5 billion by 2023
 
[155 Pages Report] The surgical retractor market is projected to grow from an estimated USD 2.5 billion by 2023 from USD 1.8 billion in 2018, growing at a CAGR of 7.2% during the forecast period. Growth in the surgical retractors market is primarily driven by factors such as increasing number of surgical procedures; market availability of specialized and application specific retraction products; on-going expansion of geriatric population; and rising demand for plastic and reconstructive surgeries.
https://www.marketsandmarkets.com/Market-Reports/surgical-retractor-market-121697708.html
By product, the table-mounted retractors segment is expected to grow at the highest rate during the forecast period
Table-mounted retractors are advanced type of self-retaining retractor systems mounted to the side rails on the operating table. The growth of the table-mounted retractor segment is attributed to factors such as advantages of these retractors over traditional retractors, (including high reliability and functionality, wide applications, easy access and visibility of the surgical site, and increased procedural convenience).
By application, the surgical retractors market for abdominal applications is expected to have dominant share in 2018
Abdominal applications include surgical operation on abdominal organs (including stomach, gallbladder, small intestine, large intestine, appendix, liver, pancreas, spleen, esophagus and appendix, among others). The market for abdominal applications segment is expected to account for largest share of market in 2018. Factors such as high number surgical procedures performed through abdominal region and increasing prevalence target disease conditions related to abdominal organs, which require surgical intervention are driving the growth of this segment during the forecast period.
By end user, hospital, clinics, and surgical centers are expected to be the largest contributor to the surgical retractor market
The hospitals, clinics, and surgical centers segment includes inpatient surgical settings that provide advanced surgical services, and clinics offering surgical treatments. Hospitals, clinics, and surgical centers are major end users of surgical equipment and supplies (including surgical retractors). The large market share of this end-user segment can primarily be attributed to the increasing number of hospitals, clinics, and surgical centers (especially in emerging nations) and the availability of financial (for procurement of surgical equipment) as well as human resources with hospitals (including trained staff and skilled professionals to perform advanced surgical procedures).
North America is expected to hold a significant share in the surgical retractor market during the forecast period
The North America is one of the major revenue generating regions in the market. The dominant position of this regional market is owing to factors such as the high number of surgical procedures in the region, growing aging population, and availability of specialized and application specific products. Furthermore, the high number of surgical procedures in the region, the presence of a well-established healthcare system, and on-going investments by hospitals to upgrade operating rooms (including surgical instruments) are also driving the growth of this regional market.
Key Market Players
JOHNSON & JOHNSON (US), MEDTRONIC PLC (US), BECTON, DICKINSON AND COMPANY (US), STRYKER CORPORATION (US), Terumo Corporation (Japan), HENRY SCHEIN, INC. (US), B. Braun Melsungen AG (Germany), TELEFLEX INCORPORATED (US), INTEGRA LIFESCIENCES HOLDINGS CORPORATION (US), THE COOPER COMPANIES, INC. (US), GLOBUS MEDICAL, INC. (US), RTI SURGICAL, INC. (US), Arthrex, Inc. (US), Invuity, Inc. (US), and Medline Industries, Inc. (US), among others.
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Issued By markets and markets
Country India
Categories Business , Health
Tags Surgical Retractor Market
Last Updated January 27, 2021