SEATTLE, Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global surgical retractors market is estimated to be valued at US$ 1779.3 million in 2021 and is expected to exhibit a CAGR of 6.6% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Surgical Retractors Market:
Key trends in the market include increasing product launches, increasing prevalence of osteoarthritis, increasing spin-offs, and inorganic activities such as acquisitions and others.
Key players are focusing on growth activities such as spin-offs and expansions to enhance its research and development activities and strengthen its supply chain of advanced products. This is expected to drive the growth of the global surgical retractors market over the forecast period. For instance, on May 3, 2021, obp, a global developer of single-use, self-contained, cordless illuminating medical devices, announced the launch of a new spin-off company called obp Surgical Corporation. The new company will focus on innovating and manufacturing of surgical tools that surgeons rely on by integrating single-use LED lighting technology into unique intracavity cordless devices.
Market players are indulged in launching new surgical retractors, which is expected to increase the growth of the global surgical retractors market over the forecast period. For instance, in 2020, JUNE MEDICAL, expanded their product portfolio of medical devices by launching a new pre-packed retractor kits, Galaxy II Male kit, especially for male procedures. The Galaxy II Male kit is used for proper visualization during surgery. This is applicable for a wide range of procedures, which requires extensive control over the surgical site, such as scrotal and associated surgeries, as well as prosthetic testicle implantations and others.
Key players are indulged in inorganic activities such as acquisitions in order to expand its product portfolio, which is expected to spur the growth of the global market over the forecast period. For instance, in 2020, Sure Retractors Ltd have acquired all rights and IP from Qspine. This acquisition will allow Sure Retractors Ltd to develop the product pipeline and further to plan for the strategic partnerships in the U.S.
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Key Market Takeaways:
Increasing prevalence of osteoarthritis is expected to increase the growth of the global surgical retractors market over the forecast period. For instance, according to the National Centre for Biotechnology Information (NCBI), January 2016, around 130 million individuals are expected to be diagnosed with osteoarthritis by 2050, worldwide.
Among regions, North America is expected to hold a dominant position in the global surgical retractors market over the forecast period, owing to increasing product launches. For instance, in 2020, Aesculap, Inc., a company focusing in sterile processing and operating room solutions, is pleased to announce the availability of the next generation of surgical instrumentation with the launch of SQ. line Surgical Instruments. This line of surgical instruments features more than 200 patterns of surgical instruments, including surgical retractors. SQ. line Surgical Instruments offer a complete solution to service basic instrumentation for spine and orthopedic procedures.
Key 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.
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Global Surgical Retractors Market, By Type:
Global Surgical Retractors Market, By Product:
Global Surgical Retractors Market, By Application:
Obstetrics and Gynecology (Ob/Gyn)
Global Surgical Retractors Market, By End User:
Ambulatory Surgical Centers
Global Surgical Retractors Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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