New York, United States, April 18, 2024 (GLOBE NEWSWIRE) -- The Global Specimen Retrieval Market Size is to Grow from USD 0.32 Billion in 2023 to USD 0.52 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.97% during the projected period.
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Specimen retrieval is a vital tool used in different surgeries, especially in minimally invasive surgery and laparoscopic surgeries for the purpose of removal of tissue or organ specimens from the patient’s body safely and efficiently. Specimen retrieval bags are used for the contained removal of adnexal cysts and masses in laparoscopic gynecologic surgery. Recently, the growing concerns about the spread of malignant cells during mechanical morcellation of myoma led to the demand for specimen retrieval bags for contained “in-bag” morcellation. myoma or uterine morcellation. The rising advancement in minimally invasive surgical procedures with the adoption of laparoscopy and robotic-assisted surgeries enhances overall surgical outcomes. Thus, these factors are augmented to surge the market demand for efficient specimen retrieval solutions. The growing prevalence of disease conditions escalates the need for surgical treatments augmenting the market growth. Further, the adoption of minimally invasive procedures plays a major role in uplifting the market. In addition, massive funding for healthcare activities in developing countries ultimately drives the global specimen retrieval market. On the contrary, the high cost of the system hampers the market growth of specimen retrieval.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Specimen Retrieval Market Size, Share, and COVID-19 Impact Analysis, By Bag Size (5 mm, and 10 mm), By Product Type (Detachable, and Non-detachable), By Application (Gynecology, and Urology), By End-user (Hospitals, and Ambulatory Surgical Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 5 mm segment dominates the market with the largest revenue share throughout the forecast period.
Based on bag size, the global specimen retrieval market is segmented into 5 mm, and 10 mm. Among these, the 5 mm segment is dominating the market with the largest revenue share through the forecast period. The growing demand for miniaturized laparoscopic surgery such as laparoscopic gynecologic surgery propels the market demand for specimen retrieval market in the 5mm segment.
The detachable segment is witnessing rapid CAGR growth through the forecast period.
Based on the product type, the global specimen retrieval market is segmented into detachable, and non-detachable. Among these, the detachable segment is witnessing significant growth through the forecast period. The rising demand for detachable specimen retrieval bags due to their convenience and multiple-time usage in a single procedure propels the market demand for specimen retrieval in the detachable segment.
The gynecology segment is witnessing significant CAGR growth through the forecast period.
Based on the application, the global specimen retrieval market is segmented into gynecology, and urology. Among these, the gynecology segment is witnessing significant growth through the forecast period. Specimen retrieval bags are used in gynecology surgery with minimum exposure of specimen and its contents to the abdominopelvic cavity and incision. Thus, the rising number of gynecology surgeries is driving the market demand.
The hospitals segment is witnessing significant CAGR growth through the forecast period.
Based on the end-user, the global specimen retrieval market is segmented into hospitals, and ambulatory surgical centers. Among these, the hospitals segment is witnessing significant growth through the forecast period. The presence of extensive infrastructure facilities, and surgical capabilities in hospitals aids in enhancing the market demand for specimen retrieval. Thus, the increasing number of hospitals leads to propel the market growth of specimen retrieval in the hospital segment.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The presence of a well-established healthcare infrastructure and a high adoption rate of advanced surgical techniques are likely to propel the market growth of specimen retrieval in the region. Furthermore, the presence of well-established healthcare infrastructure, major market players, academic institutions, and medical research centers are contributing to the development of advanced retrieval devices ultimately propelling the specimen retrieval market in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The growing Asia-Pacific population with the rising development of healthcare infrastructure propelling the market. Further, the increasing number of surgical procedures and the adoption of minimally invasive surgical techniques are responsible for escalating the market demand for specimen retrieval.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global specimen retrieval market are Johnson & Johnson Services, Inc., Laprosurge, Applied Medical Resources Corporation, KARL STORZ SE & Co. KG, Boston Scientific Corporation, Stryker Corporation, Medtronic, Purple Surgical, Inc., B. Braun Melsungen AG, Teleflex Incorporated, CONMED Corporation, Cooper Surgical, Inc., Genicon, Melsungen AG, Hangzhou Boer Medical Instruments Co., Ltd., and Other Key Players.
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Recent Developments
- In December 2023, Progressive Medical, Inc. announced the launch of West’s Vial2Bag Advanced 13 mm admixture device.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global specimen retrieval market based on the below-mentioned segments:
Global Specimen Retrieval Market, Bag Size Analysis
- 5 mm
- 10 mm
Global Specimen Retrieval Market, Product Type Analysis
- Detachable
- Non-detachable
Global Specimen Retrieval Market, Application Analysis
- Gynecology
- Urology
Global Specimen Retrieval Market, End-user Analysis
- Hospitals
- Ambulatory Surgical Centers
Global Specimen Retrieval Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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