In a recently published report, Surgical Retractors Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Surgical Retractors Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Surgical Retractors Market is valued at approximately USD 1.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2020-2027. Surgical retractor is a type of surgical instruments which are actively used during the surgical procedure performed by the surgeon. They are also recognized as a surgical detractor, and these instruments can be accessible in a range of sizes, shapes, and styles based on the surgeries and their uses in the surgical operation. These instruments are typically used to split the edges of wounds or surgical incision. They help in holding back the essential organs or tissues that allow surgeons easy access and better visibility to the exposed area. These instruments are used manually or through a mechanical method while executing surgical procedures. Presently, there are various types of surgical retractors available in the market, including hand retractors, self-retaining retractors, and table-mounted retractors and are used in surgical operations as they can support in the treatment of different surgeries.
Therefore, these factors are promoting the use of surgical retractors all over the world. Furthermore, increasing the number of surgeries in the developed & developing nations, growing geriatric population and the introduction of novel devices such as illuminated, single-use, and laparoscopic retractors are the few factors responsible for the CAGR of the market during the forecast period. According to the International Society of Aesthetic Plastic Surgery (ISAPS), there were around 10,607,227 surgical procedures performed in 2018, representing an increase of 15% from 2014, which holds almost 9,018,375 surgical procedures. This, in turn, is expected to accelerate the market growth around the world. Although, the recent outbreak of COVID-19 pandemic around the world initiating the shutdown of much-civilized life, which resulted that medical device companies are highly insulated from economic disruptions due to which demand for surgical retractors are greatly affecting. This is due to the healthcare facilities and organization are mainly focused on treating patients with COVID-19, and thus, surgical procedures are likely to put on hold. Therefore, this factor will be negatively influencing the market growth at least in this year. However, the high cost of the instrument and changing consumer interest towards minimally invasive surgeries are the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Surgical Retractors market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the rising surgical procedures, and the presence of a significant number of manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing geriatric population and improving healthcare infrastructure would create lucrative growth prospects for the Surgical Retractors market across the Asia-Pacific region.
Major market player included in this report are:
Becton, Dickinson and Company
B. Braun Melsungen AG
Medline Industries, Inc.
MicroSurgical Technology, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
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Obstetric & Gynaecological Surgeries
Ambulatory Surgical Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Surgical Retractors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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