July 17, 2024
Specimen Retrieval Bag Market

The Global Specimen Retrieval Bag Market Is Estimated To Propelled By Rapid Adoption In Minimally Invasive Surgery Procedures

Specimen retrieval bags are an important medical device utilized during minimally invasive surgery procedures such as laparoscopy for the containment and removal of surgical specimens from the body with minimal incisions. Specimen retrieval bags are thin and flexible bags that are inserted into the abdominal or thoracic cavity through small incisions via specialized instruments to allow extraction of tissues, organs or implants, avoiding direct contact with the internal cavity and minimizing complications.

The global specimen retrieval bag market is estimated to be valued at US$ 308.36 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rapid adoption of minimally invasive surgery procedures such as laparoscopy across various clinical specialties including gynecology, general surgery and urology has been a major driver for the growth of specimen retrieval bags market. Minimally invasive procedures offer advantages over traditional open surgeries such as reduced post-operative complications, shorter hospital stay, lesser pain and faster recovery. This has resulted in increasing preference among patients and surgeons for minimally invasive options. Moreover, growing prevalence of diseases requiring surgical intervention such as cancer and kidney ailments is expected to further propel the demand for safe and effective specimen retrieval bags during the forecast period. Technological advancements leading to development of retrieval bags with enhanced strength, durability and compatibility with various surgical instruments will also support market growth.

SWOT Analysis

Strength: Specimen retrieval bags are sterile, disposable pouches that allow for easy, contained removal of organs and tissues during laparoscopic procedures without contaminating the surgical site. This can help reduce surgical site infections.
Weakness: The non-biodegradable polymer materials used to manufacture specimen retrieval bags may pose environmental sustainability issues if not properly disposed of.
Opportunity: Rising incidence of various forms of cancer that require surgical removal is expected to augment demand for specimen retrieval bags for laparoscopic procedures.
Threats: Alternate minimally invasive surgical techniques that do not require specimen retrieval pouches pose competition to vendor sales in this market. Cost-sensitive customers may prefer cheaper alternatives to premium product offerings.

Key Takeaways

The global Specimen Retrieval Bag Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global specimen retrieval bag market is estimated to be valued at US$ 308.36 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023-2030.

North America currently dominates the global specimen retrieval bag market owing to advanced healthcare infrastructure and growing prevalence of various cancers necessitating surgical treatment in countries like the US and Canada. Asia Pacific is expected to be the fastest growing regional market due to improving access to healthcare and rising medical tourism in countries like India, China and Japan.

Key players operating in the specimen retrieval bag market are Johnson & Johnson Services, Inc., Teleflex Incorporated, Cooper Surgical, Inc., Genicon, Medtronic, B. Braun SE, Applied Medical Resources Corporation, LaproSurge, Purple Surgical, CONMED, Hangzhou Boer Medical Instruments Co., Ltd., Duomed, Changzhou Cheayoo Medical Devices Co., Ltd., and Tianjin Zhichao Medical Technology Co., Ltd.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it