ALBANY, New York, January 11, 2018 /PRNewswire/ --
As per the TMR report, the breast surgery retractors market is likely to be worth US$328.68 mn by the end of 2025 at a CAGR of 3.20% between 2017 and 2025.
Research & Development Initiatives to Introduce Novel Products Upticks Demand
The key factors contributing to the growth of breast surgery retractors market include increasing incidence of breast cancer, rising aesthetic awareness, and growing preference for minimally invasive surgery. As per statistics provided by Breastcancer.org, more than one among every eight women develop breast cancer during their lifetime. In 2017, more than 252,710 new invasive procedures for breast cancer and more than 63,410 new non-invasive procedures for breast cancer were reported globally. In 2017, 3.1 million cases of breast cancer were reported in the U.S. alone.
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Research and development initiatives to introduce advanced retractors such as polymer based ones to replace stainless steel retractors is providing further impetus to the growth of this market.
Among the key product types, single-arm retractors reigned the market in 2016 and is likely to remain dominant over the forecast period. In terms of breast surgery procedure, plastic surgery segment led the market in 2016 and is anticipated to stay at the helm over the forecast period.
North America held the leading share of the breast surgery retractors market in 2016; going forward, the region is anticipated to experience heavy demand for breast surgery retractors. The region, will thus maintain high stakes over the forecast period. The lead of the region could be attributed to considerable importance to aesthetics and appearance. Europe trails North America in terms of demand for breast surgery retractors due to increasing preference for minimally invasive procedures.
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Rising Aesthetic Awareness Stokes Demand for Plastic Breast Surgery Procedures
The growing number of plastic surgeries performed is further boosting the growth of breast surgery retractors market. High importance to aesthetics is stoking demand for plastic and cosmetic surgery among women and men for professional and non-professional reasons. According to the International Society Aesthetic Plastic Surgeons, in 2016, the total number of plastic breast surgery procedures carried out in Brazil were 255,607 and over 62,206 in Mexico. The low cost of plastic surgery and breast augmentation procedures in these places have made them preferred destinations for customers in the West.
The global breast surgery retractors market is characterized with the presence of a few large companies that renders a fairly consolidated business landscape, says Transparency Market Research (TMR) in a new report. Competition prevails in the market as these players outshine each other with innovative products and expand their geographical outreach.
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Key players in this market such as Accurate Surgical & Scientific Instruments, Invuity Inc., Integra Lifesciences Corporation, and B. Braun Melsungen AG are resorting to carefully crafted alliances and mergers and acquisitions across geographies to consolidate their position in this market. The development of cutting-edge products at competitive prices remains the key growth strategy of top players in the global breast surgery retractors market.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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