SURGICAL RETRACTORS MARKET ANALYSIS

Surgical retractors are hand-held surgical instruments which are mostly used by the surgeons during surgical procedure. Surgical retractors are made up of steel and this tool has the curvy or angled blade at one end with a handle to hold it on the other end. Surgical retractors are also called as a surgical detractor. Surgical retractors are used by the surgeons, to separate the edges of surgical wounds. They are also used to hold the back of tissue or organ. These instruments can be used by hand or by the robotic method while performing the surgical procedures.

Global Surgical Retractors Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to hamper the growth of the global surgical retractors market over the forecast period. For instance, the COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions across the globe. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways;

• by directly affecting the production and demand
• by creating disruptions in distribution channels
• Through its financial impact on companies and financial markets

Various countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products. In 2020, the COVID-19 pandemic disrupted health-care delivery around the world, including delays in surgeries due to unavailability of surgical refractors. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global surgical refractors market during the forecast period.

There was decrease in the number of surgeries observed during the COVID-19 pandemic. For instance, according to a study published in Multidisciplinary Digital Publishing Institute (MDPI), in April 2021, the total number of knee arthoplasty procedures performed globally during March 4, 2020 and October 15, 2020, decreased by 43.86% in comparison with the number of knee arthroplasties conducted in the corresponding period in 2019 (March 4, 2019 and October 15, 2019).

The global surgical retractors market is estimated to be valued at US$ 1779.3 Mn in 2021 and is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028).  

Figure 1: Global Surgical Retractors Market Share, (%), Analysis, By Type, 2021

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Market players are indulged in inorganic activities such as partnerships, in order to expand their product portfolio, which is expected to drive the growth of the global surgical retractors market, over the forecast period.

Increasing inorganic activities such as partnerships is expected to increase the growth of the market over the forecast period. For instance, in 2020, JUNE MEDICAL entered into partnership with Vivo Surgical, in order to launch the Galaxy II LUX self-retaining ring retractor with light. The device is manufactured by combining both the features of JUNE MEDICAL’s Galaxy II retractor with Vivo Surgical’s KLARO light that is been mounted on the retractor via a purpose-designed clip. The advantage of this retractor is that, it provides surgeons better access and a clearer view of the surgical site, and thus eliminating the disadvantages of using overhead lighting or personal head torches.

Increasing number of surgical procedures is expected to increase the growth of the global surgical retractors market over the forecast period.

The increasing number of surgical procedures is expected to aid in the growth of the market over the forecast period. Surgical procedures are medical interventions involving an incision with instruments usually performed in an operating theatre and normally involving anesthesia and/or respiratory assistance. There are different types of surgical procedures such as: caesarean sections, cataract surgery, breast biopsy, bariatric surgery, and others.

Moreover, according to the World Cancer Journal: 2020, the following graph shows the prevalence of various cancers in both the sexes worldwide. Therefore, increasing prevalence of cancer among the global population is expected to increase the number of surgeries performed, which in turn is expected to boost the growth of the market over the forecast period.

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Global Surgical Retractors Market – Restraints

Increasing disadvantages of surgical retractors is expected to hamper the growth of the global surgical retractors market over the forecast period. According to the article published by the researchers of National Institute of Technology, Kurukshetra, India: 2018, the following are the disadvantages of using surgical retractors:

• The surgical retractors have sharp tips, which can damage the important soft tissues, such as nerves and blood vessels
• The use of retractor may lead to intraoperative damage to other organs which further leads to major postoperative complications. There is a high risk of intra-abdominal scar formation.
• It causes damage to the colon and femoral nerve. Lesions in the colon may occur due to the tension of the retractor blade despite being padded with sponges.
• The retractor may also damage renal vein causing renal vein thrombosis in which formation of clot occurs in the vein that drains blood from the kidneys, ultimately leading to a reduction in the drainage of one or both kidneys.
• The retractor may also cause to distended abdomen, rising leukocytes, rising C-reactive protein. It may also lead to peritonitis due to perforation of the cecum.

Global Surgical Retractors Market – Regional Analysis

On the basis of region, the global surgical retractors market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to hold a dominant position during forecast period, owing increasing launches of new and innovative surgical retractors. For instance, in 2019, OBP Medical Corporation launched ONETRAC LX, a cordless surgical retractors with an integrated multi-LED light source and dual smoke evacuation channels. ONETRAC LX retracts, illuminates and evacuates surgical smoke, all with one fully integrated device. Within seconds, ONETRAC LX provides illumination and smoke evacuation in the depths of a surgical pocket.

Furthermore, Europe is also estimated to witness significant growth in the global surgical retractors market, owing to the increasing launches of surgical retractors in the region. For instance, in 2018, QSpine, a British manufacturer, launched the SURE Single Use Retractor, which helps in illuminating the surgical site with integrated LED light cartridges that are attached to the blades. This delivers superior illumination to traditional overhead lights or headlights. SURE Single Use Retractors are delivered sterile which eliminates the need for sterilization and cleaning.

Figure 2: Global Surgical Retractors Market (US$ Mn), by Region, 2021

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Global Surgical Retractors Market – Competitive Landscape

Major players operating in the global surgical retractors market include Medtronic Plc, Becton, Dickinson and Company, Medical Devices Business Services, Inc., Teleflex Incorporated, Medline Industries, Inc., B. Braun Melsungen AG, Applied Medical Resources Corporation, Thompson Surgical, Innomed, Inc., LiNA Medical ApS, Vivo Surgical Private Limited, BVI, CooperSurgical Inc., Stryker Corporation, Mediflex Surgical Products, Applied Medical Technology, Inc., and Changzhou Haiers Medical Devices Co., Ltd.