South Korea Surgical Retractor Market Strategic Analysis, Industry Outlook and Future Scenarios

 

A surgical retractor is a medical instrument, which is used during surgical procedures. The instrument is used to hold the edges of an incision to keep it open during the surgery. Furthermore, the instrument is used to draw back the sutures to keep them adjacent with the operative field. In addition, surgical retractors are used to enhance the visibility and access to an exposed area, which aids in conducting the surgical procedure. For instance, the instruments provide a clear view of the organs, which require operating. Thus, surgical retractors are employed in various surgeries such as abdominal surgeries, cardiothoracic surgeries, and orthopedic surgeries. Different types of surgical retractors used during surgical procedures include hand retractors, self-retaining retractors, and wire retractors. 

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Key Market Players

  • B Braun Melsungen Ag
  • Becton, Dickinson and Company
  • Henry Schein, Inc.
  • Integra Lifesciences Holdings Corporation
  • Johnson & Johnson
  • Medline Industries, Inc.
  • Medtronic Plc.
  • Teleflex Incorporated
  • Terumo Corporation
  • The Cooper Companies, Inc.

The major factor that contributes to the growth of surgical retractor market include surge in number of surgical procedures across the globe. Furthermore, other factors such as rise in healthcare expenditure and surge in prevalence of chronic medical conditions that require surgical procedures for treatment fuel the growth of surgical retractor market. In addition, surge in geriatric population worldwide is another major factor that contributes to the growth of market. However, stringent regulations set by the FDA for the approval of surgical equipment restricts the growth of surgical retractor market. Conversely, high growth potential in developing economies is expected to offer lucrative opportunities during the forecast period. 

Key Market Segments

  • By Product Type
    • Hand Retractor
    • Self-Retaining Retractors
    • Table-mounted Retractors
    • Wire Retractors
  • By Application
    • Abdominal Surgeries
    • Cardiothoracic Surgeries
    • Orthopedic Surgeries
    • Obstetric & Gynecological Surgeries
    • Other
  • By Region
    • North America
    • Europe
    • Asia-Pacific
    • LAMEA

North America accounted for the major surgical retractor market share in 2018, and is expected to continue this trend, owing to easy availability of surgical retractors. Moreover, surge in prevalence of various chronic conditions, which require surgeries for treatment is another major reason that contributes to the growth of this market. Conversely, Asia-Pacific is expected to register the fastest growth during the forecast period attributed to increase in awareness regarding the use of surgical retractors. In addition, the constantly evolving life science industry drives the growth of the market in the developing economies such as India, China, and Malaysia.

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