Market Leader - Surgical Retractor Market
The global surgical retractors market is projected to reach USD 2.5 billion by 2023 from USD 1.8 billion in 2018, at a CAGR of 7.2%. Factors such as increasing number of surgical procedures; market availability of specialized and application specific retraction products; expansion of geriatric population; and rising demand for plastic and reconstructive surgeries are driving the growth of the surgical retractors market. However, increased preference for minimally invasive surgery (MIS) procedures is expected to restrain the growth of this market during the forecast period.
As of 2017, major players operating in the global surgical retractors market include JOHNSON & JOHNSON (US), MEDTRONIC PLC (US), BECTON, DICKINSON AND COMPANY (US), STRYKER CORPORATION (US), Terumo Corporation (Japan), HENRY SCHEIN, INC. (US), B. Braun Melsungen AG (Germany), TELEFLEX INCORPORATED (US), INTEGRA LIFESCIENCES HOLDINGS CORPORATION (US), THE COOPER COMPANIES, INC. (US), GLOBUS MEDICAL, INC. (US), RTI SURGICAL, INC. (US), Arthrex, Inc. (US), Invuity, Inc. (US), Medline Industries, Inc. (US), among others. The analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as strategic market expansions were adopted by market players to maintain a competitive position in the surgical retractors market.
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Becton, Dickinson and Company (US) dominated the global surgical retractors market in 2017. The company has a strong foothold in the market, with a vast range of surgical retractors those are used for various surgical applications including abdominal, cardiothoracic, orthopedic, neurological, and urological surgeries, among others. The company has a strong geographic presence in more than 100 countries such as the US, China, Switzerland, Canada, France, Switzerland, India, Japan, Malaysia, Australia, New Zealand, Vietnam, Singapore, Brazil, Mexico, Denmark, and Poland.
Medtronic PLC (US) held the second position in the global surgical retractors market in 2017. The company has a unique product portfolio of surgical retractors, including hand held retractors, and specialized aspiration retractors, among others. The company has a strong geographic presence across the countries such as Japan, the US, Canada, the UK, Russia, China, South Korea, Australia, New Zealand, India, Taiwan, Vietnam, and Indonesia. The company primarily focuses on research and development to enhance and maintain its market share.
Related Reports:
Surgical Retractor Market - Product (Hand-held, Self-retaining, Table-mounted, Wire), Design (Fixed, Angled, Elevated), Application (Abdominal, Cardiothoracic, Orthopedic, OB/GYN, Aesthetic), End User (Hospital, Maternity Center, ACCs) - Forecasts to 2023
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