Specimen retrieval bags are used to remove the contaminated part & impurities from the abdomen. This helps in improving the overall health of a patient & Speeds up the recovery.

Overview of This Study:

The study involved four major activities in estimating the current size of the specimen retrieval market. Exhaustive secondary research was conducted to collect information on the market and its subsegments. The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research.

Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Expected Revenue Gains During Forecast Period:

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.

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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.

Major Growth Boosters:

The major factors driving the growth of this market include the increasing prevalence of diseases requiring surgical treatment and removal of specimens from the body, especially laparoscopic procedures.

End Users:

Hospitals were the largest end users of specimen retrieval systems in 2018

By end user, the specimen retrieval systems market is segmented into hospitals and other end users. The hospitals segment accounted for the largest market share in 2018 and is expected to register the highest growth during the forecast period. The large share and high CAGR of this segment can be attributed to the robust infrastructure and presence of skilled professionals in hospitals, which has driven the preference for hospital-based treatment.

Geographical Growth Scenario:

North America commanded the largest share of the specimen retrieval systems market in 2018

North America dominates the specimen retrieval systems market. The large share of North America in this market can be attributed to the increasing incidence and prevalence of cancer, hernia, and appendectomy and the availability of reimbursement for laparoscopic surgeries in the region.

Key Questions Addressed in the Report:

# What are the growth opportunities in the specimen retrieval systems market across major regions in the future?
# Emerging countries have immense opportunities for the growth and adoption of specimen retrieval systems. Will this scenario continue during the next five years?
# Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
# What are the various specimen retrieval systems and their respective market shares in the overall market?
# What are the new trends and advancements in the specimen retrieval systems market?

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