Oct 10, 2022, 11:30 ET
- Growing adoption of minimally invasive surgeries presents vast avenue for manufacturers in global surgical retractors market, notably to meet requirements of plastic & reconstructive surgeries
- Incorporation of new materials notably metals and novel alloys to open up new revenue streams for market players; widespread demand for titanium and stainless steel retractors underpins massive opportunities
WILMINGTON, Del., Oct. 10, 2022 /PRNewswire/ -- Surgical retractors made of titanium and stainless steel are expected to account for the largest revenue generator in surgical retractors market. An in-depth study by TMR has found that rise in minimally invasive surgeries especially in reconstructive surgeries has augmented the surgical retractors market size. The global worth of the market is projected to reach US$3.1 Bn by 2030.
Advancements in technologies used in manufacturing surgical instruments will considerably shape the future market demand for surgical retractors. Of note, medtech companies are testing new metals and alloys to meet the demanding requirements of the retractors in minimally invasive as well as invasive surgeries. New designs are expected to open up new frontiers in the surgical retractors market.
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Leading players in surgical retractors market are keen on meeting the demands for surgical devices in cardiothoracic, orthopedic, and obstetric & gynecological surgeries. To this end, they are leaning on developing lightweight products and adopting alloys with unique performance characteristics. Furthermore, caesarean section (babies born by C-section) rates have risen globally over the past few years, thereby expanding the horizon for the commercialization of innovative retractors and cutting-edge technologies in the surgical retractors market.
Key Findings of Surgical Retractors Market Study
- Abundant Demand for Titanium & Stainless Steel Surgical Retractors to Generate Substantial Revenue Potential: Rise in demand for surgical retractors is reinforced by increased preference of titanium & stainless as popular materials in range of products. Increased commercialization of titanium & stainless surgical retractors worldwide has spurred the revenue streams, observed the market analysts.
- Firms Growing R&D on Incorporating Innovative Metals and Materials to Expand Revenue Streams: A spate of promising discoveries for advanced materials in recent years relates to the use of niobium and tantalum, found the study. Ongoing research on a wide array of alloys and specialized materials is propelling the revenue growth of the global surgical retractors market. Continuous focus on unveiling technologically advanced surgical instruments for meeting requirements of clinicians in operating rooms will pave the way to some incredible avenues for market players.
- Rising Application in Minimally Invasive Surgeries Underpins Profitable Avenues: Rise in number of minimally invasive surgeries is a key pivot for the expansion of the surgical retractors market. Of note, the demand for improved retractors for a wide spectrum of reconstructive surgeries and plastic surgeries will generate new revenue streams in the near future, found the TMR study.
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Surgical Retractors Market: Key Drivers
- Rise in number of minimally invasive surgeries is a key driver of the surgical retractors market. Evolving requirements of medical instruments used in the surgeries has been reinforcing lucrativeness of the market.
- Growing number of reconstructive procedures is expanding the avenues for players in the surgical retractors market
- Over the years, the number of elderly patients who need surgeries has grown significantly in various regions of the world, thereby boosting the growth frontiers.
Surgical Retractors Market: Competition Landscape
The TMR study makes a granular assessment of the strategic dynamics shaping the demand and supply factors in the surgical retractors market, including competitive strategies by leaders and other key players. Most prominent companies are keen on expanding their product portfolio to strengthen their position in the market.
Some of them are Medline Industries, Invuity, Inc., B. Braun Melsungen AG, Teleflex Incorporated, Ethicon (Johnson & Johnson Services, Inc.), Becton, Dickinson and Company, Integra LifeSciences, Terumo Corporation, and Stryker.
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Surgical Retractors Market Segmentation
- Hand-held Retractors
- Self-retaining Retractors
- Table-mounted Retractors
- Abdominal Surgeries
- Cardiothoracic Surgeries
- Orthopedic Surgeries
- Obstetric & Gynecological Surgeries
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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