Specimen Retrieval Bags Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Specimen Retrieval Bags Market is Segmented by Type (Detachable Specimen Retrieval Bags, and Non-Detachable Specimen Retrieval Bags), by Application, and Geography

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.5 %

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Market Overview

Retrieval bags are used to collect specimens such as adnexal cysts, benign cysts, or other tissue masses. Factors such as rising demand for minimally invasive surgery and growing burden of chronic diseases leading to more surgeries are driving the growth of the specimen retrieval bags market. The rise in demand for minimally invasive procedures over open surgery is triggering a high market growth rate. Also, these procedures usually provide equivalent outcomes to traditional open surgery, along with offering significant benefits, like lower risk of complications, shorter length of stay, reduced cost, and lesser recuperation period. Hence, there is increasing care provider's preference for minimally invasive procedures for a range of surgical applications which is expected to drive demand for specimen retrieval bags.

However, the high cost of specimen retrieval products and limited use of advanced medical systems in low and middle income countries are expected to restrain the growth of the global market in the forecast period.

Scope of the Report

As per the scope of the report, Specimen retrieval bags are used in minimally invasive procedures for safe and effective retrieval to avoid spillage and contamination to other organs. 

By Type
Detachable Specimen Retrieval Bags
Non-Detachable Specimen Retrieval Bags
By Application
Gastrointestinal Surgeries
Urological Surgeries
Gynecological Surgeries
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Non-Detachable Specimen Retrieval Bags Segment is Expected to Show Better Growth in the Forecast Period

Based on Type, it is segmented into detachable specimen retrieval bags and non-detachable specimen retrieval bags. Non-Detachable Specimen Retrieval segment is expected to show better growth in the forecast period. This is mainly attributed to their high preference among surgeons, as they can be used multiple times in a single procedure. Additionally, the surge in the number of minimally invasive surgical procedures will substantially increase the adoption of non-detachable specimen retrieval bags. Other factors contributing to the growth of the specimen retrieval bags market is the rising incidence of gastrointestinal and uterine cancer. According to the World Cancer Research Fund, in 2018, there were around 18 million cancer cases worldwide, of which a significant percentage of pateints are suffering from gastrointestinal and uterine cancer, which boost the growth of this segment. Hence, these factors are projected to drive the overall market during the forecast period.

Specimen Retrieval Bags Market 1

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North America leads the Specimen Retrieval Bags Market

North America leads the specimen retrieval bags market owing to the rising adoption of technologically advanced products and awareness among patients. The region is also supported by multiple international companies being collaborated with many major hospital chains, which drives the business of the studied market. In 2019, GENICON, as an emerging leader in the production, and distribution of patented surgical instrumentation receives “E STAR ” award from the U.S. Department of commerce contributing to the national export expansion that supports the U.S. economy, has collaboration with sveral hospital chains across the US to serve the demand related to specimen retrieval bags. Also, certain efforts are being taken in various countries to spread awareness about chronic diseases and advantages of minimal invasive surgeries among the general population. However, Asia Pacific is expected to grow at a faster rate due to growing medical tourism and increased adoption of minimally invasive procedures is expected to drive demand for retrieval bags in this region.

Specimen Retrieval Bags Market 2

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Competitive Landscape

The leading players in the global Specimen retrieval bags market are - Applied Medical Resources Corporation, B. Braun Melsungen AG, CONMED Corporation, Genicon, Inc., Johnson & Johnson, LaproSurge, Medtronic PLC, and Teleflex Incorporated.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand for Minimally Invasive Surgery

      2. 4.2.2 Growing Burden of Chronic Diseases Leading to More Surgeries

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Specimen Retrieval Products

      2. 4.3.2 Limited Use of Advanced Medical Systems in Low and Middle Income Countries

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Detachable Specimen Retrieval Bags

      2. 5.1.2 Non-Detachable Specimen Retrieval Bags

    2. 5.2 By Application

      1. 5.2.1 Gastrointestinal Surgeries

      2. 5.2.2 Urological Surgeries

      3. 5.2.3 Gynecological Surgeries

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Applied Medical Resources Corporation

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 CONMED Corporation

      4. 6.1.4 Genicon, Inc.

      5. 6.1.5 Johnson & Johnson

      6. 6.1.6 LaproSurge

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 Teleflex Incorporated

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Specimen Retrieval Bags Market market is studied from 2018 - 2026.

The Specimen Retrieval Bags Market is growing at a CAGR of 4.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

B. Braun Melsungen AG, Genicon, Inc., Johnson & Johnson, Medtronic PLC, Teleflex Incorporated are the major companies operating in Specimen Retrieval Bags Market.

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