Surgical Retractors Market Value to Surpass $3,089 Million by 2030, Says P&S Intelligence

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the size of the surgical retractors market was over $1,719 million in 2021, and it will grow at a rate of roughly 7%, to reach about $3,089 million by 2030. This is because of the increasing cases of long-lasting diseases, snowballing elderly population, and rising preference for minimally invasive surgeries.

Self-Retaining Retractor Demand Increasing Swiftly

With the rise in the preference for MISs, the requirement for self-retaining retractors will rise at a rate of above 7%. Moreover, these instruments ensure cleanliness and hygiene during operations, especially complex surgeries, such as spinal tumor resections.

With the use of self-retaining retractors, surgeons can complete operations competently, retain tissues without using their hands, and even avoid putting pressure on the spinal cord.

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Orthopedic Retractors Show Tremendous Sales Potential

The demand for orthopedic retractors will grow the fastest in the future. This is due to the snowballing volume of orthopedic surgeries, such as knee replacements and ankle fracture surgeries, as well as the rising prevalence of arthritis, especially in the elderly population.

Abdominal retractors account for the second-highest procurement rate. In abdominal surgeries, diverse types of retractors are used for ensuring hygiene and hands-free procedures.

• North America was the global leader, with a 30% share, in the past. This is because of the high prevalence of chronic diseases, in part, owing to the sedentary lifestyles and increasing elderly population.
• Moreover, the need for home healthcare is growing among the older population in the U.S. There are over 55 million people over the age of 65 in the country presently, and by 2060, this number will be 90 million.
• Canada is also concentrating on enhancing its healthcare infrastructure, for catering to the increasing healthcare needs.
• Europe follows North America because of the increase in the investments by leading players, rise in the surgery count, and numerous measures taken by governments for enhancing healthcare quality.
• Germany is the key contributor to the European market because of the surge in the necessity for tumor biopsies, existence of numerous participants, and extensive use of pioneering technologies.

Highest Consumption of Surgical Retractors in Hospitals

Surgical retractors are most extensively used in hospitals, with these facilities accounting for a product sales value of about $856 million in 2021. This is mainly because of the high patient number and medical procedures at these healthcare facilities.

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Non-communicable diseases, such as cancer, diabetes, and CVDs, are becoming more prevalent due to the rising elderly population, bad routines, excessive smoking, and heavy alcoholism. This is driving the volume of surgeries and, in turn, the demand for retractors and other surgical tools.

The use of surgical retractors is growing in ambulatory surgery centers as well, because of the improving patient accessibility of such centers and the lower expenses on healthcare they entail. The expansion of the network of ASCs is mainly driven by the shifting preference of patients for cost-effective services, majorly for minor procedures.

Surgical Retractors Market Report Coverage

By Type

• Handheld
• Self-Retaining

By Product

• Abdominal retractor
• Finger Retractor
• Nerve Retractor
• Orthopedic Retractor
• Rectal Retractor
• Thoracic retractor
• Ribbon Retractor

By Application

• Neurosurgery
• Wound Closure
• Reconstructive Surgery
• Cardiovascular Surgery
• Orthopedic Surgery
• Obstetrics/Gynecology Surgery

By End Use

• Hospitals
• Ambulatory Surgery Centers
• Clinics

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Spain
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• South Africa
• Saudi Arabia

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