Specimen Retrieval Bag Market Size Is Projected To Reach US$ 371.4 Million with 4.8% CAGR By 2027 | Johnson & Johnson, Teleflex Incorporated, Cooper Surgical, Inc.

Specimen retrieval systems are an important part of the surgical procedure, but they can be cumbersome and prone to contamination. Several commercial devices are available on the market. In recent years, laparoscopic surgery has become a popular technique for surgeons. These devices provide many advantages, including small incisions, rapid recovery, reduced postoperative wound pain, and minimal blood loss. Nevertheless, the most challenging aspect of the process is specimen retrieval. To overcome this problem, the specialized equipment used in surgical procedures has been improved.

The global specimen retrieval bag market was valued at US$ 244.7 million in 2018, and is expected to exhibit a CAGR of 4.8% over the forecast period (2019-2027).

Global Specimen Retrieval Bag Market: Drivers   

Increasing expenditure on gastrointestinal diseases is expected to propel growth of the global specimen retrieval bag market over the forecast period. For instance, according to a study published in Gastroenterology Journal 2019, the annual healthcare expenditure for gastrointestinal disorders was around US$ 135.9 billion in 2015.

Moreover, high prevalence of gallstone is expected to propel growth of the global specimen retrieval bag market over the forecast period. For instance, around 20 million people in the U.S. suffered from gallstone and around 300,000 cholecystectomies surgeries are performed annually, according to a study published in National Center for Biotechnology Information in March 2019.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 @ https://www.coherentmarketinsights.com/insight/request-pdf/3022

Global Specimen Retrieval Bag Market: Opportunities

Availability of products at low price is expected to offer lucrative growth opportunities for players in the global specimen retrieval bag market over the forecast period. For instance, in April 2018, GENICON, Inc., was awarded purchasing agreement with Premier, Inc., a company with tie-ups with nearly 3,900 U.S. hospitals and around 150,000 other supplier organizations, for the supply of its endomechanical products at low price.

Recent Developments

Major players operating in the global specimen retrieval bag market are focused on investing to enhance production capabilities. For instance, in November 2017, Johnson & Johnson Medical Devices invested around US$ 180 million for the new Ethicon factory at Suzhou Industrial Park, China, for production of devices used in minimally invasive and open surgeries procedures.

Market Trends

North America is expected to witness significant growth in the global specimen retrieval bag market, owing to high expenditure in treatment of gastrointestinal diseases. For instance, according to a study published in Gastroenterology Journal, 2018, the total expenses for the treatment for colon cancer accounted for US$ 4,059 Mn and cancer of other gastrointestinal organs accounted for US$ 6,106 Mn in the U.S. in 2015.

𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3022

Europe is also expected to witness significant growth in the global specimen retrieval bag market, owing to increasing adoption of laparoscopic cholecystectomies For instance, in 2014, around 66,660 cholecystectomies are performed in the U.K, annually, which costs US$ 137.286 million, according to the National Institute for Health and Care Excellence. Among all these surgeries, 61,220 are laparoscopic cholecystectomies.

Global Specimen Retrieval Bag Market: Competitive Landscape  

Major players operating in the global specimen retrieval bag market include, Applied Medical Resources Corporation, B. Braun Melsungen AG, Cooper Surgical, Inc., GENICON Inc., Johnson & Johnson, LaproSurge, Medtronic, plc, Purple Surgical, and Teleflex Incorporated.

Global Specimen Retrieval Bag Market: Key Developments   

Major players operating in the global specimen retrieval bag market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2018, Purple Surgical launched its laparoscopic and surgical single-use instruments portfolio at General Surgery Congress, an international meeting for surgeons across Peru and other Latin American countries.