Laparoscopic procedures for the removal of adnexal cysts and masses typically involve the use of a specimen retrieval bag. These devices were created so that surgeons may do minimally invasive surgeries while minimizing the risk of spreading infection throughout the patient’s abdominal cavity. These tear-resistant high-quality bags are mainly made of nylon and is coated by polyurethane. The specimen retrieval bag has an open end, closed end, and longitudinal axis for the collection of biological materials. It is a single use surgical instrument.
A 4.8% CAGR is anticipated for the global specimen retrieval bag market, which was worth US$244.7 million in 2018. (2019-2027).
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The market for specimen retrieval bags is predicted to expand as a result of an increase in mergers and partnerships among industry leaders.
The rising prevalence of agreement and collaborations strategies among market players is anticipated to be a major driver of growth in the specimen retrieval bag market. The NHS supply chain, for instance, awarded LaproSurge a 4-year framework agreement in March of 2017. The arrangement calls for the NHS supply chain to carry LaproSurge’s minimally invasive surgery goods such 3mm laparoscopic instruments, retrieval bags, trocars, and scissors.
The expansion of the specimen retrieval bag market is anticipated to be supported by a rise in surgeries related to hernias. For example, almost 20 million people throughout the world need groin hernia repairs every year, according to a report published in February 2018 by the National Center for Biotechnology Information.
In addition, substantial healthcare spending on GI disease treatment is anticipated to drive market expansion throughout the projection period. For example, in 2015, the cost of treating abdominal hernias in the United States was estimated to be over US$ 6,762 Mn, as reported in an article published in Gastroenterology Journal, 2018. Colon cancer therapy cost the US$ 4,059 Mn in 2015, whereas the treatment of cancer of other gastrointestinal organs cost US$ 6,106 Mn according to the same source.
The expansion of the specimen retrieval bag market is anticipated to be driven by the efforts of key players to provide a wide variety of goods. For example, for a variety of laparoscopic procedures requiring a port size of 5 mm to 15 mm, LaproSurge provides both detachable and non-detachable specimen retrieval bags.
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Johnson & Johnson, Teleflex Incorporated, Cooper Surgical, Inc., GENICON. Inc., Medtronic, B. Braun Melsungen AG, Applied Medical Resources Corporation, LaproSurge, and Purple Surgical are all major competitors in the global specimen retrieval bag market.
- Global Specimen Retrieval Bag Market, Bag Size:
- 5 mm
- 10 mm
- 15 mm
- 25 mm
- Global Specimen Retrieval Bag Market, Product Type:
- Global Specimen Retrieval Bag Market, Application:
- Gastrointestinal Surgery
- Others (Cardiovascular, etc.)
- Global Specimen Retrieval Bag Market, By End User:
- Ambulatory Surgical Centers
- Nursing Homes
Specimen Retrieval Bag Market – Regional Analysis
As the incidence of cancers such as colon, pancreatic, and others continues to rise in North America, the region is poised to become the world’s largest market for specimen retrieval bags in 2018. For example, the article in the 2018 issue of Gastroenterology Journal estimates that there were 139,773 new cases of colon cancer and 46,477 new cases of pancreatic cancer in the United States in 2014.
The market for specimen retrieval bags is also anticipated to expand significantly in Asia Pacific over the forecast period. As leading companies shift their attention to the region’s emerging economies, the Asia-Pacific market is anticipated to grow rapidly over the forecast period. For example, LaproSurge increased its African visibility and distribution network by participating in the June 2017 Africa Health exhibition in South Africa.
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Specimen Retrieval Bag Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Specimen Retrieval Bag Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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