Specimen retrieval systems are used to collect the tissues from patient’s body during a minimally invasive surgical procedure. These systems are witnessing transformations in terms of product designs and materials used which are increasing their safety, reliability and usability. Market players are reinventing their products with unique design characteristics. For instance, the Weck MemoBag is a specimen retrieval bag offered by Teleflex Incorporated which consists of memory wire, made from nitinol alloy, at the upper rim. This ring remembers its original deformed shape and keeps the bag open in surgical cavity, thus, facilitating use of the trocar for other purposes. The soft design of this ring also minimizes the risk of tissue damage in human body. Similarly, re-deployable specimen retrieval bags provided by GENICON minimizes the number of bags required in single procedure, reduces waste generated and prevents intraoperative contamination. Along with designs, companies are also using novel polymers and coatings to extend the durability of their specimen retrieval systems. For instance, the specimen retrieval bags of Welfare Medical Ltd., Medtronic and other companies are made from thermoplastic polyurethane which makes them tear-resistant to prevent leaks and extends their durability. Thus, these growing advancement in product designs and materials used in specimen retrieval systems are increasing their adoption by medical professionals and hence, fueling the growth of global specimen retrieval market.
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Amidst the recent outbreak of COVID-19 pandemic, minimally invasive surgeries are preferred by doctors to lower the risk of infection. Also, these procedures reduce the treatment duration which enables medical professionals to focus on growing inflow of COVID-19 patients. Thus, the inclination towards minimally invasive surgical procedures amidst COVID-19 outbreak is anticipated to fuel the demand in global specimen retrieval market.
The detailed research study provides qualitative and quantitative analysis of specimen retrieval market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global specimen retrieval market was valued at US$ 201.00 Mn in 2018 and is anticipated to grow at a CAGR of 6.27% over the forecast period owing to the rise in number of surgical treatments performed to cater to the increasing chronically ill populations.
- Based on type of specimen retrieval products, non-detachable bags or pouches are anticipated to witness high growth in global specimen retrieval market over forecast period.
- Laparoscopic procedures accounted for the highest market share in global specimen retrieval market in 2018. The growing number of patients with gastrointestinal diseases, urological diseases, bowel cancers and other such health conditions are driving the demand for laparoscopic procedures.
- Based on end users, ambulatory surgery centers are anticipated to witness highest growth rate in global specimen retrieval market over future years owing to the highly accurate surgical procedures performed at these centers and at considerably lower rate than hospitals.
- North America accounted for the highest market share in global specimen retrieval market in 2018. Asia Pacific is expected to register the highest compound annual growth rate over the period of next eight years. The rising investment from government entities and corporate organizations to improve healthcare infrastructure, is anticipated to drive the growth of Asia Pacific region.
- Some of the players operating in the specimen retrieval market are A.M.I. -Agency for Medical Innovations, Inc., Applied Medical Resources Corporation, B. Braun Melsungen AG, CONMED Corporation, Endoscopic Solutions, GENICON, INC., Johnson & Johnson Services, Inc., LaproSurge Ltd, Medtronic, Purple Surgical and Teleflex Incorporated amongst others.
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Global Specimen Retrieval Market:
- By Type
- Detachable
- Non Detachable
- By Size
- 5 mm
- 10 mm
- 12 mm
- 15 mm
- Others
- By Procedures
- Endoscopy
- Laparoscopy
- Urology
- Gynecology
- Others
- By End User
- Hospitals
- Ambulatory Surgery Centers
- Nursing Home
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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