The market for specimen retrieval bags is witnessing noteworthy growth, underpinned by an increased demand for minimally invasive surgeries and a rising number of chronic disease cases that necessitate surgeries. Specimen retrieval bags, primarily used for gathering adnexal cysts, benign cysts, or other tissue masses, play a critical role in ensuring the safe and efficient disposal of body tissue waste which is a vital part of many surgical procedures.
The trend towards minimally invasive procedures and the growth in surgical procedures creates a steady demand for these bags. Another factor propelling the market is strategic initiatives taken by governmental organizations globally to improve transplant services that utilize specimen retrieval bags. However, with the high cost of specimen retrieval products and the limited use of advanced medical systems in low- and middle-income countries, there are challenges to market growth that must be navigated. Despite these barriers, the specimen retrieval bags market holds strong potential for growth and offers potential investors a promising opportunity.
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 Bags Market Trends
Urological Surgeries Segment is Expected to Hold a Significant Market Share Over The Forecast PeriodUrological 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 PeriodNorth 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 Bags Market Competitor AnalysisThe 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.
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Table of Contents
1.2 Scope of the Study
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
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
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
5.1.1 Detachable Specimen Retrieval Bags
5.1.2 Non-Detachable Specimen Retrieval Bags
5.2 By Application
5.2.1 Gastrointestinal Surgeries
5.2.2 Urological Surgeries
5.2.3 Gynecological Surgeries
5.2.4 Other Applications
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
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.
6.1.7 Medtronic PLC
6.1.8 Teleflex Incorporated
A selection of companies mentioned in this report includes:
- Applied Medical Resources Corporation
- B. Braun SE
- CONMED Corporation
- Grena Ltd.
- Johnson & Johnson Services, Inc.
- Medtronic PLC
- Teleflex Incorporated