Specimen Retrieval Bag Market- Size, Share, Outlook, and Opportunity Analysis, 2020- 2027


Posted October 7, 2020 by Aditya450

Specimen retrieval bag are widely used in laparoscopic surgeries for removing adnexal cysts and masses from patients’ body.

 
Specimen retrieval bag are widely used in laparoscopic surgeries for removing adnexal cysts and masses from patients’ body. These systems are developed to reduce contamination of abdominal cavity by isolating specimen by performing minimally invasive surgical procedures.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).

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Specimen retrieval bag are widely used in laparoscopic surgeries for removing adnexal cysts and masses from patients’ body. These systems are developed to reduce contamination of abdominal cavity by isolating specimen by performing minimally invasive surgical procedures.

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).

Specimen retrieval bag market is expected to witness significant growth, owing to increasing adoption of agreement, and collaborations strategies by the market players. For instance, in March 2017, LaproSurge received 4-year framework agreement from NHS supply chain. Under the agreement LaproSurge’s minimally invasive surgery products such as scissors, instruments, retrieval bags, trocars, and 3mm instruments for laparoscopic surgery will be supplied through NHS supply chain.

Rising number of hernia cases, is expected to increase the surgery and thereby bolstering the specimen retrieval bag market growth over the forecast period. For instance, according to the article published in The National Center for Biotechnology Information, February 2018, nearly 20 million of global population undergo groin hernia repair every year.

Moreover, high healthcare expenditure in the treatment of gastrointestinal diseases is expected is expected to propel the market growth over the forecast period. For instance, according to the article published in Gastroenterology Journal, 2018, the total expenses for treatment of abdominal hernia accounted around US$ 6,762 Mn in the U.S. in 2015. According to the same source 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.

Key players are focused on offering broad range of products, which is expected to boost growth of the specimen retrieval bag market over the forecast period. For instance, LaproSurge offers both detachable and non-detachable specimen retrieval bags for wide range of laparoscopic procedures having size of 5 mm to 15 mm port.

North America is expected to hold a dominant position in the global specimen retrieval bag market in 2018, owing to rising number of colon, pancreatic, and other cancer in the region. For instance, according to the article published in Gastroenterology Journal, 2018, around 139,773 new cases of colon and 46,477 of pancreatic cancer was estimated in the U.S. in 2014.

Moreover, Asia Pacific is expected to witness significant growth in the specimen retrieval bag market during the forecast period. The market in the Asia Pacific is expected to gain momentum during the forecast period, owing to rising focus of key players in such emerging economies. For instance, in June 2017, LaproSurge participated in Africa Health exhibition held in South Africa in order to expand its distribution channel and enhance its presence in Africa.

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

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Issued By aditya
Country India
Categories Business
Tags size
Last Updated October 7, 2020