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The Global Surgical Retractors Market held a market value of USD 1,103 Million in 2017 and is projected to grow at a CAGR of 7.8% over the forecast period.
Increasing number of surgical procedures leading to increase demand of surgical retractors. Surgical retractors are one of the important surgical instruments which is used to separate the edges of the wound or surgical incision.
Due to increasing prevalence of obesity across the globe many of the companies are in the race to introduce better treatment for obesity. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.
Additionally, the growing research and development expenditure by the government as well as private sector is likely to contribute to the market growth. As per the data by the Office for National Statistics, in 2016, the gross domestic expenditure on research and development (R&D) was Euro 33.1 billion (USD 35.2 billion) in the UK. However, the cost of surgery and surgical products may hamper the market growth during the assessment period.
Surgical Retractors Market Regional Analysis
On regional basis, the Americas is anticipated to dominate the global surgical retractors market owing to the growing R&D budgets by both government as well as commercial pharmaceutical and biotechnological companies and increasing adoption of advanced technologies in the region.
Europe is expected to hold the second largest position in the global surgical retractors market owing to the presence of strong academic & research base and availability of funding for research in the European countries. Asia Pacific has served an opportunity for developing surgical retractors market in this region due to increasing demand for the better treatment and devices and increasing prevalence of disease like diabetes and obesity.
The Middle East & Africa has the least share of the global surgical retractors market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.
• Surgical Retractors Manufacturers and Distributors
• Contract Research Organizations
• Academic and Research Institutes
• Government Associations
The Global Surgical Retractors Market has been segmented into product type, design, product usage, application, and end user.
By product type, the market has been segmented into hand retractors, self-retaining retractors, table-mounted retractors, wire retractors, and accessories.
Based on design, the market has been segmented into fixed or flat frame retractors, angled or curved frame retractors, and blade or elevated-tipped retractors.
Based on product usage, the market has been segmented into tissue handling and dissection and fluid swabbing.
Based on application, the market has been segmented into obstetric & gynecological, urological, abdominal, cardiothoracic, orthopaedic, head, neck, and spinal, aesthetic surgical, and others.
The market, by end user, has been segmented into hospitals and surgical centres, ambulatory care centres, and others.
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Ella Ava is a financial expert and a renowned blogger. She has more than 5 years of experience in writing as well as in working for various loan companies. Currently, she is working at Finance.