The Surgical Retractors Market was valued at US$ 2,153.40 million in 2018 and it is projected to reach US$ 3,724.46 million in 2027; it is expected to grow at a CAGR of 6.5% from 2019 to 2027.
The surgical retractors market is highly competitive, with a considerable number of players operating in the market. Most of the companies operating in the surgical retractors market are present across the globe and have wide distribution and sales networks through partnerships or authorized dealers.
Well-known small local companies are present in the market to provide diversified products to its customer base. Larger firms are embracing the strategy of acquiring small/ medium firms to intensify and expand its product portfolio and footprint in different geographies. Additionally, companies are also undergoing acquisitions to garner their significance and remain competitive in the market. Few of the essential vital developments from the industry are mentioned below:
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The most notable market participants are Integra LifeSciences Corporation, Teleflex Incorporated, Arthrex, Inc., B. Braun Melsungen AG, CooperSurgical, Inc., Globus Medical, Inc., Medline Industries, Inc., Medtronic plc., Stryker, Thompson Surgical, OBP Medical Corporation among others occupying a considerable share of the market owing to their offerings to the market.
Market leaders are involved in product approvals and launches, agreement, which have promoted its growth. For instance, in May 2019, Obp launched the ONETRAC LX, a new and improved line of single-use, cordless surgical retractors with an integrated multi-LED light source and dual smoke evacuation channels. The product launch enabled the company to offer to better facility to improve the production for enhancing the product in the market.
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. 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. 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. Thus, owing to the aforementioned factors, the market for surgical retractors is expected to grow in the forecast period significantly.
List of Companies
- Integra LifeSciences Corporation
- Teleflex Incorporated
- Arthrex, Inc.
- Braun Melsungen AG
- CooperSurgical, Inc.
- Globus Medical, Inc.
- Medline Industries, Inc.
- Medtronic plc.
- Thompson Surgical,
- OBP Medical Corporation
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