Global Surgical Retractors Market to grow with a CAGR of 3.90 %
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Surgical Retractors Market.
According
to TechSci Research report, “Global Surgical Retractors Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Surgical Retractors
Market has valued at USD 1.20 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 3.90% through 2028. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market. The demand for surgical retractors is
closely tied to the volume of surgical procedures being performed. As the
number of surgical procedures continues to rise, the demand for surgical
instruments, including retractors, increases. Whether it's in orthopedic,
cardiovascular, gynecological, or general surgery, retractors play a crucial
role in providing surgeons with the necessary access and visibility during the
procedures. Surgical retractors are used in a wide range of medical
specialties, including orthopedics, neurosurgery, obstetrics and gynecology,
cardiovascular surgery, and more. The expansion of surgical procedures in these
diverse specialties contributes to the overall demand for retractors. Patients
are increasingly seeking surgical solutions for various health conditions, and
they often expect the highest standard of care. This drives healthcare
providers to invest in high-quality surgical instruments, including retractors,
to meet patient expectations. Favorable reimbursement policies for surgical
procedures encourage healthcare providers to invest in high-quality
instruments, including surgical retractors. These policies can also improve
patient access to advanced surgical treatments.
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In August 2021,
JUNE Medical has recently unveiled an exciting development through its
collaboration with LUMITEX: the introduction of the LUX Connect in vivo
illuminator. This innovative device can be directly connected to an existing
light source, ensuring consistent illumination throughout an entire surgical
procedure. The LUX Connect is versatile and can be used in conjunction with the
award-winning Galaxy II retractor or as a standalone tool, offering significant
advancements in surgical practices, particularly in fields like orthopaedics
and gynaecology. This instrument, designed for open wound surgeries, is
characterized by its lightweight and malleable nature, featuring a small
diameter and the ability to flex without any minimum radius. It provides
uninterrupted, hands-free lighting. The Galaxy II LUX Connect can deliver
bright yet diffused light, making it ideal for deep cavity visualization while
effectively avoiding heat transfer. Its bifurcated design ensures dual angle
illumination, effectively eliminating shadows and minimizing glare, which can
be tiring for surgeons during extended procedures. Importantly, the illuminator
connects directly to standard light sources and operates without the need for
batteries, guaranteeing consistent, high-quality lighting throughout the entire
surgical procedure without concerns about battery disposal.
Product
liability and safety are significant challenges in the Global Surgical
Retractors Market. The safety and effectiveness of surgical instruments,
including retractors, are critical for patient well-being and the liability of
manufacturers, healthcare providers, and regulatory bodies. The primary concern
is ensuring the safety of patients undergoing surgical procedures. Surgical
retractors must be designed, manufactured, and maintained to minimize the risk
of patient injury, including complications resulting from instrument malfunction
or improper use. Maintaining consistent quality and safety in the production of
surgical retractors is a challenge. Any defects or flaws in the manufacturing
process can lead to product recalls, injuries, and legal liabilities. Surgical
retractors must meet stringent regulatory requirements to ensure their safety
and efficacy. Compliance with these standards is essential but can be
challenging due to evolving regulations and requirements. As mentioned earlier,
infection control is a critical aspect of safety. Contaminated or improperly
sterilized retractors can lead to healthcare-associated infections, harming
patient safety and exposing healthcare providers to legal liabilities.
Global Surgical Retractors Market is segmented based
on Product, Application, Type, and by region.
Based on the product, Global Surgical Retractors Market
is segmented into Abdominal Retractor, Finger retractor, Nerve
Retractor, Orthopedic Retractor, Rectal Retractor, Thoracic Retractor, Ribbon
Retractor, and others. A rectal retractor is a specialized surgical
instrument used to provide access and visualization to the rectal and anal area
during surgical procedures or medical examinations. It is designed to gently
hold back and expose the rectal and perianal tissues, facilitating various medical
interventions, including surgery, diagnostic examinations, and the treatment of
conditions affecting the rectum and anus. Rectal retractors play a crucial role
in ensuring that the surgeon or medical professional can access the surgical
site, visualize the area, and perform necessary procedures effectively and
safely. They are an important part of the equipment used in colorectal
surgeries and examinations, contributing to the success and safety of these
medical interventions.
Based on Region, North America held
the largest share in the Global Surgical Retractors Market. The United
States has a well-established regulatory framework for medical devices,
including surgical retractors. While this can be seen as a challenge, it also
assures the quality and safety of products, which boosts the confidence of
healthcare providers and patients in these instruments. North America,
particularly the United States, attracts medical tourists from around the world
who seek high-quality healthcare services. This includes surgical procedures
where surgical retractors play a crucial role. The relatively strong economic
conditions in North America mean that healthcare facilities can invest in the
latest medical technologies, including surgical retractors. Patients also have
greater access to healthcare services, leading to a higher demand for surgeries
and associated instruments. The presence of numerous established medical device
manufacturers in North America has resulted in a competitive market. This
competition drives innovation and the development of state-of-the-art surgical
retractors.
Some
of the major companies operating in the Global
Surgical Retractors Market include:
- Medtronic
Plc.
- Becton,
Dickinson, and Company (BD)
- Medical
Devices Business Services, Inc.
- Teleflex
Incorporated
- Medline
Industries, Inc.
- B.
Braun Melsungen AG
- Applied
Medical Resources Corporation
- Innomed,
Inc.
- LiNA
Medical ApS
- Vivo
Surgical Private Limited
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“Certain areas, particularly in North
America, are projected to exert significant demand for Surgical Retractors. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the Global Surgical
Retractors Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
Global Surgical Retractors Market by Type (Handheld, Self-retaining), By Product
(Abdominal Retractor, Finger retractor, Nerve Retractor,
Orthopedic Retractor, Rectal
Retractor, Thoracic Retractor, Ribbon Retractor, others) By Application
(Neurosurgery, Ob/Gyn, Wound Closure, Reconstructive Surgery, Cardiovascular, Orthopedic,
others), By Region, By
Competition Forecast & Opportunities, 2018-2028F has evaluated
the future growth potential of Global Surgical Retractors Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide innovative market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Surgical Retractors Market.
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