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).
Figure 1. Global Specimen Retrieval Bag Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Rising number of acquisitions and collaborations by the market players are expected to boost growth of the specimen retrieval bag market
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.
Figure 2. Global Specimen Retrieval Bag Market Share (%), by Product Type, 2019 and 2027
Source: Coherent Market Insights Analysis (2019)
Specimen Retrieval Bag Market - Regional Analysis
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.
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
Specimen retrieval bags are used in the laparoscopic (abdomen and pelvic) surgical procedures. These bags are designed to reduce contamination of the abdominal cavity during surgeries. These tear-resistant high-quality bags are mainly made of nylon and is coated by polyurethane. The specimen retrieval bag has an open end, closed end, and longitudinal axis for the collection of biological materials. It is a single use surgical instrument.
Increasing prevalence of gastrointestinal and uterine cancer, gynecological disorders, gall bladder stones, and hernia are expected to propel global demand for specimen retrieval bag over the forecast period. For instance, according to the American Institute of Cancer Research, endometrial cancer is the sixth most commonly occurring cancer in women and estimated 380,000 new cases were reported in 2018. Moreover, according to the same source, U.S., Canada, and Russia accounted for the 20.1%, 23.6 % and 18.7% per 100,000 population of endometrial cancer respectively in 2018.
Moreover, rising product approvals by the regulatory bodies is expected to propel the market growth over the forecast period. For instance, in November 2016, Covidien, a part of Medtronic received the 510(K) from the U.S. Food and Drug Administration (FDA) approval for ReliaCatch specimen retrieval bag of 10mm and 12 mm made from ripstop nylon and to be used in specimen retrieval.
However, factors such as product recalls is expected to hinder growth of specimen retrieval bag market over the forecast period. For instance, in November 2018, Espiner Medical Ltd. received the product recall letter from the U.S Food and Drug Administration (FDA) for Espiner Tissue retrieval bags. These bags were recalled, as the label was incorrect. Label states that volume of the bag is 1,200ml, whereas the actual volume of bag was 1,000ml. Furthermore, in May 2019, the U.S FDA recalled the product of ConMed Corporation, Anchor Tissue Retrieval System. The product was recalled due to presence of voids in the seal or partial seal results.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.