As stated in our extensive report, providing insights on products and procedures the Global Surgical Retractors Market accounted for USD 1,179.5 Million in 2021.
Surgical retractors are used by surgeons during the surgery and these reactors help them operate with room professionals to perform and hold an incision or open wound surgery during surgical procedures. They aid in holding back underlying organs or tissues, allowing doctors better visibility and access to the exposed area.
According to World Health Organization (WHO), 234.2 million surgeries are currently being taken place globally. Major countries are spending USD 100 per head on health care and thus an estimated mean rate of major surgery of 295 procedures per 100 000 population per year, whereas those spending more than USD 1000 have a mean rate of 11,110. Middle-expenditure (USD 401-1000) and high-expenditure (USD >$1000) countries, accounting for 30.2% of the world's population, provided 73.6% (172.3 million) of operations worldwide. The rate of surgeries is growing rapidly and hence it is expected that surgical equipment is expected to gain a huge market in the forecast years.
The crucial drivers driving the Surgical Retractors Market trends are the increasing geriatric population and the rising number of surgeries globally. Also, increasing technological advancements in the field of healthcare are further fueling the growth of the market. As of 2017, Becton, Dickinson, and Company are one of the leading players operating in the surgical retractors market.
The outbreak of coronavirus (COVID-19) in early 2020 led to the steepest decline in surgical reactors as a number of surgeries were canceled owing to the quick and quick spread of coronavirus. The implementation of the lockdown in China in January, followed by subsequent months in countries across the world, as well as stringent regulations passed by government bodies on the movement of people and goods that were necessary to limit the spread of COVID-19, led to a downfall in sales of Surgical Retractors Market.
Asia Pacific is expected to grow at the fastest CAGR in the coming years owing to the high demand for surgical reactors. The market growth can be attributed to the increasing demand for surgical reactors in this region. Meanwhile, the Asia Pacific is predicted to be the fastest-growing region, with emerging economies such as India and China driving the market growth. The growing healthcare influence in the region, improving healthcare standards, and the growing awareness about surgical procedures is estimated to aid the market growth in the forecast period.
Developing economies like India, China, and the Middle East are expected to gain a huge market for surgical reactors owing to the increasing population and increase in surgeries. The Asia Pacific held the largest share of the Surgical Retractors Market in 2021, followed by Europe and North America.In major parts of the world, the market is still growing owing to insufficient funds, lack of awareness, minimum availability of healthcare facilities, underdeveloped healthcare infrastructure, and social constraints.
Major players of the Surgical Retractors market such as Medtronic, Becton, Dickinson and Company (BD), Medical Devices Business Services Inc., Teleflex Incorporated, Medline Industries Inc., B. Braun Melsungen AG, Applied Medical Resources Corporation, Thompson Surgical, Innomed Inc., LiNA Medical ApS, Vivo Surgical Private Limited, BVI, CooperSurgical Inc., Stryker, Terumo Corporation, June Medical Group, Mediflex Surgical Products, Chamfond Biotech Co., Ltd, Applied Medical Technology Inc. (AMT), Microcure (Suzhou) Medical Technology Co., Ltd., Changzhou Haiers Medical Devices Co., Ltd, Boston Scientific Corporation, Coloplast.