The size of the surgical retractors market was over $1,719 million in 2021, and it will grow at a rate of roughly 7%, to reach about $3,089 million by 2030. This is because of the increasing cases of long-lasting diseases, snowballing elderly population, and rising preference for minimally invasive surgeries.
Surgical Retractors Market
With the rise in the preference for MISs, the requirement for self-retaining retractors will rise at a rate of above 7%. Moreover, these instruments ensure cleanliness and hygiene during operations, especially complex surgeries, such as spinal tumor resections.
The demand for orthopedic retractors will grow the fastest in the future. This is due to the snowballing volume of orthopedic surgeries, such as knee replacements and ankle fracture surgeries, as well as the rising prevalence of arthritis, especially in the elderly population.
Abdominal retractors account for the second-highest procurement rate. In abdominal surgeries, diverse types of retractors are used for ensuring hygiene and hands-free procedures.
• North America was the global leader, with a 30% share, in the past. This is because of the high prevalence of chronic diseases, in part, owing to the sedentary lifestyles and increasing elderly population.
• Moreover, the need for home healthcare is growing among the older population in the U.S. There are over 55 million people over the age of 65 in the country presently, and by 2060, this number will be 90 million.
• Canada is also concentrating on enhancing its healthcare infrastructure, for catering to the increasing healthcare needs.
• Europe follows North America because of the increase in the investments by leading players, rise in the surgery count, and numerous measures taken by governments for enhancing healthcare quality.
• Germany is the key contributor to the European market because of the surge in the necessity for tumor biopsies, existence of numerous participants, and extensive use of pioneering technologies.