Specimen Retrieval Market Dynamics 
Drivers
-Growing Demand for Minimally Invasive Surgery
-Awareness Programs for Minimally Invasive Surgeries

 
Market Opportunities
-Growth Potential of Emerging Economies

 
Market Challenge
-Restricted Access to Systems in Emerging Countries

The specimen retrieval market is projected to reach USD 290 million by 2024 from USD 230 million in 2019, at a CAGR of 4.7% during the forecast period.

Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment, especially laparoscopic surgeries. However, the high cost of specimen retrieval systems is a major challenge for this market, particularly in emerging countries.

Some of the prominent players in the specimen retrieval systems market are Johnson & Johnson Services, Inc. (US), Teleflex Incorporated (US), Applied Medical Resources Corporation (US), CONMED Corporation (US), Cooper Surgical, Inc. (US), Genicon (US), B. Braun Melsungen AG (Germany), Laprosurge (UK), Purple Surgical (UK) and Medtronic (Ireland).

Recent developments:

• In 2018, Genicon, Inc. entered into a distribution agreement with Greenpine Pharma, China to distribute its complete range of products in China.
• In 2017, B. Braun opened five new production and administration facilities in Penang to cater to end users in Malaysia. The company aims to manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments in these facilities.

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