Global Specimen Retrieval Bag Market, By Bag Size (5 mm, 10 mm, 15 mm, and 25 mm), By Product Type (Detachable and Non-detachable), By Application (Gynecology, Urology, Gastrointestinal Surgery, and Others (Cardiovascular, etc.)), By End User (Hospital, Ambulatory Surgical Centers, and Nursing Homes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 296.5 Million in 2023, exhibiting a CAGR of 4.00% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing product launches by key market players is expected to drive the global specimen retrieval bag market growth over the forecast period. For Instance, in April 2021, Theracell, a biotechnology company, announced the launch of TheraFuze DBF bag for graft containment in spinal surgery .
Global Specimen Retrieval Bag Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic and consequent lockdowns in various countries across the globe impacted the financial status of businesses across all sectors, including the private healthcare sector. COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.
Many patients with COVID-19 have severe respiratory infection that requires hospitalization and mechanical ventilation. Governments of various countries are focusing on initiatives to fight against the COVID-19 pandemic, and to stop the spread of the coronavirus infection by implementing various measures in the countries. Moreover, the governments of various countries have collaborated with universities around the globe, to find novel treatments option for COVID-19 and its related complications. For instance, according to an article published in the Journal of Laparoendoscopic and Advanced Surgical Techniques, in April 2021, an observational study was conducted among the total populationthat estimated that 70.83% of males and 29.16% of females required urgent laparoscopic surgery for acute cholecystitis and complications related to acute cholecystitis during the pandemic. Rising demand for laparoscopic surgeries leads to increasing demand for retrieval bags, as these are used during surgeries.
Global Specimen Retrieval Bag Market- Key Developments
Increasing research and development activities by various hospitals and clinics such as Affiliated Hospital to Academy of Military Medical Sciences is expected to drive the global specimen retrieval bag market growth over the forecast period. For instance, in January 2022, a clinical study was conducted in Affiliated Hospital of Academy of Military Medical Sciences, to study the application of a specimen retrieving bag in endoscopic polypectomy. The primary purpose of this study was to evaluate the effectiveness of the application of the retrieving bagin reducing the polyp fragmentation rate.
Browse 36 Market Data Tables and 34 Figures spread through 180 Pages and in-depth TOC on “Global Specimen Retrieval Bag Market”- Forecast to 2030, Global Specimen Retrieval Bag Market, By Bag Size (5 mm, 10 mm, 15 mm, and 25 mm), By Product Type (Detachable and Non-detachable), By Application (Gynecology, Urology, Gastrointestinal Surgery, and Others (Cardiovascular, etc.)) By End User (Hospital, Ambulatory Surgical Centers, and Nursing Homes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/specimen-retrieval-market-3022
Increasing prevalence of urological disorders, gastrointestinal (GI) disorders, and cancer is expected to drive the global specimen retrieval bag market growth over the forecast period. For instance, according to the data published by World Health Organization (WHO), in February 2022, about 1.93 million new cases of colon and rectum cancers were diagnosed globally in 2020, and colon cancer is one of the most common cancers in the world.
Key Takeaways of the Global Specimen Retrieval Bag Market:
- Global specimen retrieval bag market is expected to exhibit a CAGR of 4.00% during the forecast period, due to increasing prevalence of bladder related disorders over the forecast period. For instance, in 2022, according to the data published by the National Institute of Diabetes and Digestive and Kidney Diseases, approximately 3.3 million women suffer from the crippling and painful interstitial bladder pain syndrome, and 1.6 million men suffer from chronic prostatitis/chronic pelvic pain syndrome, every year, in the U.S. that includes urologic symptoms including pain when the bladder fills. A surgical procedure called cystoscopy with hydrodistension can be used to diagnose and treat the disorders. Thus, rising prevalence of such diseases, and increasing demand for surgeries is further expected to drive the marketgrowth.
- Among application, gynecology segment is estimated to hold a dominant position in the global specimen retrieval bag market over the forecast period. Laparoscopic retrieval bags are widely used for minimally invasive surgeries including cholecystectomy, hysterectomy, oophorectomy, and hernia repair. Cyst removal is necessary depending on its size or its nature. For instance, in August 2022, according to the data published by the Mayo Foundation for Medical Education and Research (MFMER), cyst removal can often performed by using miniammly invasive surgeries that increased demand for retrieval bags during the procedures.
- Among regions, North America is estimated to account for the largest market share in the global specimen retrieval bag market over the forecast period. For instance, according to the data published by American Society of Clinical Oncology (ASCO), in September 2022, 65,950 people in the U.S. were diagnosed with uterine or endometrial cancer in 2022.
- Major players operating in the global specimen retrieval bag market include 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
