SPECIMEN RETRIEVAL BAG MARKET ANALYSIS

Global specimen retrieval bag market is estimated to be valued at US$ 296.5 Million in 2023, exhibiting a CAGR of 4.00% during the forecast period (2023-2030).

Analysts’ Views on Global Specimen Retrieval Bag Market

Global specimen retrieval bag market growth can be hindered by increasing number of product recall by regulatory authorities. For instance, in February2018, Teleflex Incorporated, a medical technology company, launched Weck-Memobag specimen retrieval systemthat is  easy to handle, and provides protection against contamination in the operating field.

Figure 1. Global Specimen Retrieval Bag Market Share (%), By Product Type, 2023

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Global Specimen Retrieval Bag Market– Drivers

Increasing Prevalence Of Gynecological disorders

Increasing prevalence of gynecological disorders is expected to drive the global specimen retrieval bag market growth over the forecast period. According to the data published by the government of Canada, in December 2021, Canadian women aged 65 and older are more likely to be diagnosed with gynecological disorders. Increasing prevelance of these disorders is expected to boost demand for gynecological surgeries.

Figure 2. Global Specimen Retrieval Bag Market Value (US$ Million), By Region, 2023

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Global Specimen Retrieval Bag Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global specimen retrieval bag market over the forecast period. North America holds 39.1% of the market share, due to increasing prevalence of gynecological diseases in North America region. According to the data published by Cleveland Clinic Foundation in 2020, approximately 5% to 10% women undergo surgical exploration for ovarian cysts in their lifetime, in the U.S., and 13% to 21% of these cysts are malignant in nature.

Global Specimen Retrieval Bag Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global specimen retrieval bag market. During COVID-19 pandemic, the global specimen retrieval bag market were hampered, due to increased risk of infection among patients. For instance, in May 2021, according to the data published by National Center For Biotechnology Information, COVID-19 decresed the number of laparoscopic surgeries among patients, and thus, demand for surgical instruments such as retrieval bag was decreased.

Global Specimen Retrieval Bag Market- Segmentation

Global specimen retrieval bag market  is segmented into bag size, product type, application, and end user.

Based on Bag Size, the market is segmented into 5 mm, 10 mm, 15 mm, and 25 mm. Out of which, the 5mm segment is expected to hold a dominant position in the global specimen retrieval bag market during the forecast period, owing to rising incidence of laparoscopic gynecologic surgery.

Based Product Type, the market is segmented into detachable and non-detachable. Out of which, the detachable segment is expected to hold a dominant position in the global specimen retrieval bag market during the forecast period, owing to increasing   demand for these bag systems, as itcan be used multiple times in a single procedure.

Based Application, the market is segmented into gynecology, urology, gastrointestinal surgery, and others (cardiovascular, etc.). Out of which, the gynecology segment is expected to hold a dominant position in the global specimen retrieval bag market during the forecast period, owing to rising gynecology surgeries.

Based on End User, the market is segmented into hospital, ambulatory surgical centers, and nursing homes. Out of which, the hospital pharmacies segment is expected to dominate the market over the forecast period, owing to increasing number of hospitals.

Among all segmentation, the detachable segment has the highest potential due to the high preference for these bag systems for laparoscopic gynecologic surgery.

Global Specimen Retrieval Bag Market- Cross Sectional Analysis

Among application, gynecology segment hold a dominant position in North America Region. For instance, For instance, in September 2020, according to the data published by The Institute for Health Metrics and Evaluation (IHME), about 1530 million people were living with gynaecological diseases in 2019.

Global Specimen Retrieval Bag Market- Key Developments

Rising applications for laparoscopic surgeries for various diseases is expected to drive the global specimen retrieval bag market growth over the forecast period. For instance in 2022, according to the American Society of Clinical Oncology (ASCO) update, 65,950 people in the U.S., were diagnosed with uterine or endometrial cancer in 2022.

Global Specimen Retrieval Bag Market : Key Trends

Rising number of urological diseases

Rising number of urological diseases leads to increasing demand for minimally invasive surgeries. is expected to increase the application of laparoscopic retrieval bags for urological surgeries, which helps to drive segment growth over the forecast period.

Global Specimen Retrieval Bag Market : Restraint

Increasing Number Of Product Recall By Regulatory Authorities

Increasing number of product recall by regulatory authorities such as U.S. Food and Drug Administartion. For instance, in May 2020, U.S. Food and Drug Administration recalled Class 2 Genicon EZee retrieval bag, manufactured by Genicon, a medical device company. The device was recalled because Genicon was not providing updated instructions for use (IFU) labeling to users to provide clarity on how to use the device for multiple specimen retrieval.

Global Specimen Retrieval Bag Market - Key Players

Major players operating in the global specimen retrieval bag market 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

*Definition: Specimen retrieval bag is surgical instrument that is used for the removal of biological material from a patient. It consist of flexible wall and a closed end and an open end, wherein the open end is for receiving biological materials. The retrieval bag are of different sizes such as 5 mm, 10 mm, and others, and are used for various applications such as urological surgeriers, gynecological surgeriesand others.