Specimen Retrieval Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Specimen Retrieval Market Analysis
The market for specimen retrieval bags is expected to register a CAGR of 4.5 percent during the forecast period.
The impact of COVID-19 has been severe on the market for specimen retrieval bags owing to the cancellations and reduction in the number of surgeries worldwide. For instance, according to the Canadian Joint Replacement Registry (CJRR) 2021 report, the number of hip and knee replacements performed in Canada decreased by 12.9% and 26.4%, respectively, in 2021 compared with the previous year. The report also stated that 48,000 knee and hip replacement surgeries were not performed in the past 2 years in Canada due to pandemic restrictions. But it's expected that it will take until the middle of 2023 for the market to reach the number of surgeries done before COVID. This could mean that there will be more demand for specimen retrieval bags in the years after the pandemic.
The growing demand for minimally invasive surgery and the rise in the number of people with chronic diseases who require more surgeries both have an impact on the market's growth.
According to the OECD, the number of surgeries performed in some European countries such as Portugal, Denmark, Ireland, and Norway in 2021 was around 94.87, 49.33, 32.84, and 21.5 (in thousand), respectively. Such a huge number of surgeries in developed European countries will lead to increased adoption of specimen retrieval bags during the surgeries. Also, as per the report of the Canadian Institute of Health Information, 55,300 hip replacements and 55,285 knee replacements were performed in Canada during 2020-202184, and 21.5 (in thousand), respectively. Such a huge number of surgeries in developed European countries will lead to increased adoption of specimen retrieval bags during the surgeries. Also, as per the report of the Canadian Institute of Health Information, 55,300 hip replacements and 55,285 knee replacements were performed in Canada during 2020-2021. Hence, there is an increasing preference among care providers for minimally invasive procedures for various surgical applications, which is expected to drive demand for specimen retrieval bags.
Retrieval bags collect specimens such as adnexal cysts, benign cysts, or other tissue masses. The rise in demand for minimally invasive procedures over open surgery is triggering a high market growth rate. For instance, as per the Aesthetic Plastic Surgery report, surgical procedures increased by 54% in 2021 in the United States. The average plastic surgeon performed 320 surgical procedures in 2021, an increase of 31% from the previous year (2020). The increase in surgical procedures is projected to boost the demand for specimen retrieval bags for the removal of body tissue waste.
The strategic initiatives taken by governmental organizations to improve transplant services globally are projected to boost the usage of specimen retrieval bags used during organ transplants. For instance, in June 2021, the Secretariat collaborated with the Pontifical Academy of Sciences in order to co-sponsor an international workshop on the contribution of science to the creation of global standards for organ donation and transplantation. The workshop emphasized the high burden of disease that results in organ failure and urged the need to include transplantation in universal health care packages as a cost-effective treatment option. Since these programs will be covered by health insurance, they are expected to increase the demand for organ transplants. They are also expected to increase the use of specimen retrieval bags, which will help the market grow during the forecast period.
Therefore, owing to the factors listed above, it is anticipated that the studied market will witness growth over the analysis period. However, the high cost of specimen retrieval products and the limited use of advanced medical systems in low- and middle-income countries are likely to impede market growth.
Specimen Retrieval Market Trends
This section covers the major market trends shaping the Specimen Retrieval Bags Market according to our research experts:
Urological Surgeries Segment is Expected to Hold a Significant Market Share Over The Forecast Period
Urological surgery deals with the treatment of conditions involving the male and female urinary tracts and the male reproductive organs. Retrieval bags are useful in specimen retrieval after urological surgery.
According to the American Cancer Society (ACS) 2022 report, the estimated number of new urinary system cancer cases in the current year in the United States is 164,190, out of which 81,180 are cancer cases of the urinary bladder. The high burden of uterine cancer is projected to increase surgical procedures, ultimately boosting segment growth. Hence, these factors are projected to drive the overall market during the forecast period.
Additionally, as per the CDC, urinary tract infections (UTIs) are the fifth most common type of healthcare-associated infection. As per the NCBI 2022 update, nephrolithiasis affects roughly 12% of people worldwide and is becoming more common nowadays. The incidence is estimated at 600,000 in the United States between the ages of 20 and 49. Kidney stones affect men more frequently than women. The high burden of kidney stones is projected to boost urological surgery growth.
Furthermore, the high burden of kidney transplants is projected to boost segment growth. For instance, according to IRODaT, the number of kidney transplants from a deceased donor was 5,649 in the United States, 5,613 in Spain, and 4,205 in France in 2021. As a result, the aforementioned factors are expected to boost the growth of the urological surgery segment during the forecast period.
North America is Expected to Hold a Significant Share in The Specimen Retrieval Bags Market Over The Forecast Period
North America is expected to hold a significant market share owing to factors such as the rising incidence of chronic diseases, the increasing use of minimally invasive surgeries for various healthcare conditions, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the strong presence of industry players in the region.
As per Cedars-Sinai's 2022 update, coronary artery bypass graft surgery (CABG), also known as coronary artery bypass or bypass surgery, is the most common heart surgery, and more than 300,000 people have successful bypass surgery in the United States each year. Also, as per the CDC, coronary heart disease is the most common type of heart disease. In the United States, approximately 20.1 million adults aged 20 and older will have the disease in 2021. Every 40 seconds, someone suffers from a heart attack, and nearly 805,000 people in the United States have a heart attack every year. Thus, the high burden of cardiovascular diseases is expected to create demand for heart surgeries, further demanding the availability of retrieval bags in healthcare settings. Hence, the burden of cardiovascular diseases and heart surgeries is predicted to fuel the market's growth during the forecast period in the region.
Additionally, according to the ACS 2022 report, the estimated number of new cancer cases in the United States in 2022 is 1,918,030, out of which 343,040 are digestive system cancer cases and 290,560 are breast cancer cases. The high burden of these cancers is projected to increase surgical procedures, which are ultimately projected to boost the utility of specimen retrieval bags, which is ultimately projected to augment market growth in the region.
Specimen Retrieval Industry Overview
The market for specimen retrieval bags is fragmented in nature due to the presence of many companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold market shares and are well known. Some of the players in this market are Applied Medical Resources Corporation, B. Braun SE, CONMED Corporation, Grena Ltd., Johnson & Johnson Services, Inc., LaproSurge, Medtronic PLC, Teleflex Incorporated, and Duomed, among others.
Specimen Retrieval Market Leaders
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Medtronic PLC
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Teleflex Incorporated
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Applied Medical Resources Corporation
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B. Braun SE
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Johnson & Johnson Services, Inc.
*Disclaimer: Major Players sorted in no particular order
Specimen Retrieval Market News
- March 2022: The PMI SUPER BAG family of rip-stop nylon specimen retrieval bags announced successful pre-market performance evaluations and market acceptance. The PMI SUPERBAG was used in over 1000 surgeries, with an overall 97.8% acceptance rate.
- January 2022: A clinical trial was initiated in January 2022 using the specimen retrieval bag to study its application to reduce the polyp fragmentation rate, according to ClinicalTrials.gov. The study was sponsored by the affiliated hospital to the Academy of Military Medical Sciences in Shanghai.
Specimen Retrieval Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Demand for Minimally Invasive Surgery
- 4.2.2 Growing Burden of Chronic Diseases Leading to More Surgeries
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4.3 Market Restraints
- 4.3.1 High Cost of Specimen Retrieval Products
- 4.3.2 Limited Use of Advanced Medical Systems in Low and Middle Income Countries
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value- USD million)
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5.1 By Type
- 5.1.1 Detachable Specimen Retrieval Bags
- 5.1.2 Non-Detachable Specimen Retrieval Bags
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5.2 By Application
- 5.2.1 Gastrointestinal Surgeries
- 5.2.2 Urological Surgeries
- 5.2.3 Gynecological Surgeries
- 5.2.4 Other Applications
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Applied Medical Resources Corporation
- 6.1.2 B. Braun SE
- 6.1.3 CONMED Corporation
- 6.1.4 Grena Ltd.
- 6.1.5 Johnson & Johnson Services, Inc.
- 6.1.6 LaproSurge
- 6.1.7 Medtronic PLC
- 6.1.8 Teleflex Incorporated
- 6.1.9 Duomed
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Specimen Retrieval Industry Segmentation
As per the scope of the report, specimen retrieval bags are used in minimally invasive surgeries for the removal of cysts and masses to avoid spillage and contamination of other organs. The market for Specimen Retrieval Bags is divided into Type (Detachable Specimen Retrieval Bags and Non-Detachable Specimen Retrieval Bags), Application (Gastrointestinal Surgeries, Urological Surgeries, Gynecological Surgeries, and Other Applications), and Geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | Detachable Specimen Retrieval Bags | |
| Non-Detachable Specimen Retrieval Bags | ||
| By Application | Gastrointestinal Surgeries | |
| Urological Surgeries | ||
| Gynecological Surgeries | ||
| Other Applications | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Specimen Retrieval Market Research FAQs
What is the current Specimen Retrieval Bags Market size?
The Specimen Retrieval Bags Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Specimen Retrieval Bags Market?
Medtronic PLC, Teleflex Incorporated, Applied Medical Resources Corporation, B. Braun SE and Johnson & Johnson Services, Inc. are the major companies operating in the Specimen Retrieval Bags Market.
Which is the fastest growing region in Specimen Retrieval Bags Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Specimen Retrieval Bags Market?
In 2024, the North America accounts for the largest market share in Specimen Retrieval Bags Market.
What years does this Specimen Retrieval Bags Market cover?
The report covers the Specimen Retrieval Bags Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Specimen Retrieval Bags Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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