Cervical Retractors Market size is predicted to cross USD 218 Billion by the end of 2035, witnessing a CAGR of 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of cervical retractors was over USD 120 Billion.
There is increasing use of spinal devices such as cervical retractors for treating cervical disc herniation. An estimated 5 to 20 cervical disc herniation per 1000 adults occur each year, which contributes to neck pain in adults. The cervical retractor is used to separate the vertebrae and expose the herniated disc while allowing a surgeon to access the herniated disc and surgically remove it.
Manufacturers' wide availability of retractor sets has created a lucrative opportunity for the cervical retractors market. MEDFIX VISION cervical retractor set by Medfix International, LLC features locking technology that ensures blades are snugly connected to retractor bodies, and hinged arms that conform to patient anatomy during surgical procedures.
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~5% |
Base Year Market Size (2022) |
~ USD 120 Billion |
Forecast Year Market Size (2035) |
~ USD 218 Billion |
Regional Scope |
|
Growth Drivers
Challenges
Type (Transverse Retractors, Longitudinal Retractors)
By 2035, transverse retractor segment is poised to account for 53% of the market share. The transverse retractor system is designed to provide a secure engagement with minimal tissue trauma and improved visibility, while its low-profile design allows for easy access to the surgical site.
This allows surgeons to perform procedures with greater precision while reducing the risk of tissue damage. A Phantom CS Transverse Retractor by TeDan Surgical Innovations has been designed with Sure-Lock and Lever Lock technologies.
End-User (Hospitals, Clinics, Ambulatory Surgery Centers)
A significant share of 49% is predicted to be owned by the hospitals segment in the cervical retractors market by 2035. Hospitals are performing an increasing number of minimally invasive procedures to treat conditions such as hernias, spine ailments, and tumor removals. These procedures require the use of cervical retractors. In addition, hospitals are investing in advanced medical equipment and modernizing their infrastructure to improve patient outcomes.
Our in-depth analysis of the cervical retractors market includes the following segments:
Type |
|
End User |
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North American Market Forecast
North America cervical retractor market is anticipated to dominate 37% revenue share by the end of 2035. A rising prevalence of cervical cancer is observed in the region, and the region has developed well-established healthcare systems to combat the disease. A cervical retractor is a surgical instrument that spreads and exposes the cervix to facilitate surgical access.
APAC Market Statistics
Asia Pacific cervical retractors market is expected to register a share of approximately 28% by 2035, driven by growing awareness of the benefits of cervical retractors in medical centers and hospitals.
A higher proportion of elderly people in the region creates a greater need for medical devices that can support the diagnosis and treatment of aging-related conditions, such as back pain. Cervical retractors are particularly useful in aiding the diagnosis and treatment of conditions related to the cervical spine, such as herniated discs or cervical stenosis, which are more common in older populations.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing demand for minimally invasive surgeries, and the rising number of cervical injuries are the major factors driving the growth of the cervical retractors market.
Ans: The market size of cervical retractors is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2035.
Ans: Lack of skilled labor and the presence of counterfeit products are the challenges affecting the market growth.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are TeDan Surgical Innovations, Inc., Medfix International, LLC, Globus Medical, Inc., Thompson Surgical Instruments, Inc., NSI Health Systems, and Stryker Corporation.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, end user, and region.
Ans: The transverse retractors segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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