Fastest Growing Segment Fueling Growth of the Specimen Retrieval Bag Market

The global Specimen Retrieval Bag Market is estimated to be valued at US$ 308.36 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Specimen retrieval bags are medical devices used to remove tissues, organs or implants from the body during minimally invasive surgery while maintaining sterile conditions. They help contain fluid spillage and prevent cross-contamination.

Market key trends:

One of the key trends in the specimen retrieval bag market is the increasing preference for disposable bags. Disposable bags are made of polymers like polyethylene and nylon which provides advantages like single use and reduces risks of cross-contamination. They are cost-effective and easy to use. Another trend is the demand for advanced sealing mechanisms in bags. Improved sealing technologies help reduce leakage and maintain sterility during tissue extraction procedures.

Segment Analysis:

The global specimen retrieval bag market is dominated by the single use specimen retrieval bags segment. Single use bags account for over 70% of the market share as they help prevent surgical site infections by eliminating reutilization of bags. Being disposable, single use bags do not require cleaning or sterilization between procedures, making them more convenient and safe for use.

Key Takeaways:

The Global Specimen Retrieval Bag Market Growth is expected to witness high, exhibiting CAGR of 4.0% over the forecast period, due to increasing incidence of various cancer types that require surgical treatment via minimally invasive procedures.

Regional analysis:

North America is expected to dominate the global specimen retrieval bag market over the forecast period. This is attributed to factors such as rising geriatric population, increasing prevalence of cancers, and growing adoption of minimally invasive surgeries in the region. Asia Pacific is expected to exhibit highest growth during the forecast period owing to improving healthcare infrastructure and rising medical tourism in the region.

Key players:

Key players operating in the specimen retrieval bag market are 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.

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