Emerging Markets in Asia-Pacific: Opportunities in the Surgical Retractors Industry

[Snehal Shaha]

The increasing number of surgical procedures worldwide, the rising prevalence of chronic diseases along with a significant rise in the geriatric population and the availability of specialized retraction products are some of the key factors driving the market for surgical retractors.

The global report Surgical Retractors Market is projected to reach USD 2.8 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 6.7%.

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Market Segmentation: -
Based on product, the global surgical retractors market is segmented into handheld retractors, self-retaining retractors, table-mounted retractors, wire retractors, and retractor accessories. In 2021, the handheld retractors segment accounted for the largest share of this market.

Based on usage, the surgical retractors market is segmented into tissue handling and dissection, and fluid swabbing. The highest growth of the tissue handling and dissection segment can be attributed to the increased handling of tissues, organs, and ligaments around the surgical area with the increasing number of surgical procedures globally.

Based on application, the surgical retractors market is segmented into abdominal surgeries, cardiothoracic surgeries, orthopedic surgeries, obstetric and gynecological surgeries, urological surgeries, aesthetic surgeries, head, neck, and spinal surgeries, and other surgeries.

Based on end users, the surgical retractors market is segmented into hospitals, clinics, and surgical centers, ambulatory care centers, and maternity and fertility centers. The ambulatory care centers segment is expected to register the highest growth during the forecast period due to the increased adoption of getting treated in ambulatory care settings due to the cost-effective treatment offered.

Regional Analysis: -
Asia Pacific is expected to witness the highest growth during the forecast period due to presence of high-growth markets such as India, China, and Japan, the implementation of favorable government initiatives, and rapid growth in the geriatric population, are some of the major factors that are expected to drive the growth of the surgical retractors market in the Asia Pacific region.

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Recent Developments:
• In 2022, Henry Schein acquired acquire Condor to expand its dental distribution business in Switzerland.
• In 2020, Henry Schein entered into an agreement with the Dentists Supply Company and this was aimed to form a new entity - TDSC.com, an online-only option for purchasing dental supplies that will serve the state dental association members.
• In 2019, Integra LifeSciences acquired Rebound Therapeutics to develop innovative products to address the unmet needs in neurosurgery.
• In 2019, Stryker Corporation acquired Mobius Imaging and Cardan Robotics to expand its presence in the orthopedics, spine, and neurotechnology divisions using advanced imaging and robotics as well as a wide product pipeline.

Top Key players
The prominent players in the surgical retractors market are Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Integra LifeSciences (US), Teleflex Incorporated (US), Medtronic plc (US), Johnson & Johnson (US), Stryker Corporation (US), Henry Schein, Inc. (US), Sklar Surgical Instruments (US), Mediflex Surgical Products (US), Medline Industries, Inc. (US), Bausch Health Companies, Inc. (Canada), Thompson Surgical Instruments (US), BR Surgical, LLC (US), The Cooper Companies, Inc. (US), Innomed, Inc. (US), Terumo Corporation (Japan), Globus Medical, Inc. (US), Halma plc (UK), Enovis Corporation (US), CONMED Corporation (US), Olympus Corporation (Japan), Arthrex, Inc. (US), Applied Medical Resources Corporation (US), and LiNA Medical ApS (Denmark).

It's important to note that the surgical retractors market is closely tied to the overall healthcare industry, and its performance is influenced by various healthcare trends and factors, including technological advancements, regulatory changes, and healthcare spending. As the healthcare landscape continues to evolve, so too will the surgical retractors market.