The global surgical retractors market is anticipated to reach US$ 3,724.46 Mn in 2027 from US$ 2,153.40 Mn in 2018. The market is anticipated to grow with a CAGR of 6.5% from 2019-2027.
Driving factors of the surgical retractors market are increase in the number of cardiovascular surgeries and increase in the number of orthopaedic surgeries play a vital role in the growth of the surgical retractors market. Also, increasing medical tourism in emerging nations is likely to have a positive impact on the growth of the market in the coming years.
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The rise in orthopedic surgeries is driven by the surgical procedures done for the replacements of the knee and hip. The surgeries are done for the amputations of the limbs due to the damages and injuries caused by accidents or various diseases. Also, the surgeries are done for the amputation of the patients, suffering from diabetes, or even has developed the condition of gangrene. For instance, according to the U.S. Agency for Healthcare Research and Quality, in the United States, approximately 600,000 knee replacement surgeries are performed per year. In the geriatric population, the knee replacement surgeries are mostly being performed for the deteriorating joints. Rising conditions such as rheumatoid arthritis (RA), ankylosing spondylitis (AS), and osteoporosis also help to increase the number of surgical procedures.
For instance, according to a report published in 2018 of Healthline Media, rheumatoid arthritis (RA) affects 41 in every 100,000 people per year, and near round, 1.3 million Americans have RA. Likewise, data published by the Spondylitis Association of America states that spondyloarthritis is found in approximately 2.7million people, which is 1 in 100 population in America. Similarly, according to the International Osteoporosis Foundation, osteoporosis is estimated to affect 200 million women across the world in 2018, among which approximately one-tenth of women are above 60 years, one-fifth of women are aged more than 70, two-fifths of women aged above 80 and two-thirds of women aged more than 90. Moreover, the number of surgeries is expected to be rising to the musculoskeletal disorders that are associated with sports, occupational injuries, and age-related dysfunction. In 2017, as per the data by Arthritis Foundation, 54 million adults have been diagnosed with arthritis. Besides, nearly 300,000 babies and children have arthritis or a rheumatic condition. Also, the standard type of arthritis diagnosed is osteoarthritis, which affects approximately 31 million Americans. Thus, owing to the aforementioned factors, the market for surgical retractors is expected to grow in the forecast period significantly.
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In 2018, the hand retractors segment accounted for the largest market share in the global surgical retractors market by the product type segment. With the help of hand retractors assistant can rapidly relocate them for more exposure and can adjust the tension or force on the tissues as required. The hand retractors permit an assistant to move tissue away from the surgical instruments and safeguard the vital structures in the procedure. Owing to the factors such as increasing usage in the hand retractors segment is anticipated to grow in the future.
The global surgical retractors market is segmented by product type, application and end user. Based on the product type, the surgical retractors market is segmented into hand retractors, self-retaining retractors, wire retractors, and others. On the basis of application, the market is segmented into obstetrics & gynecology, cardiovascular, neurosurgery, orthopedic surgery, reconstructive surgery, wound closure, and others. Based on the end user, the market for surgical retractors is categorized as hospitals, clinics, & surgical centers, ambulatory care centers, and maternity & fertility centers.
Some of the important primary and secondary sources included in the report are, Arthroscopy Association of Canada (AAC), American College of Cardiology (ACC), American Heart Association (AHA), Coronary Artery Diseases (CAD), Centers for Disease Control and Prevention (CDC), Dubai Health Authority (DHA), Indian Stroke Association (ISA), and others.
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