Specimen Retrieval Bag Market Is Anticipated To Witness High Growth Owing To Rising Demand For Minimally Invasive Surgical Procedures

Specimen retrieval bags are sterile containment bags used for collecting surgical specimens during minimally invasive surgical procedures like laparoscopy. These bags allow for safe removal of tissue, organs or foreign objects from the body through small incisions without direct contact. The bags eliminate the risk of spilling bodily fluids or specimens inside the patient's body during extraction. Demand for specimen retrieval bags has increased in tandem with the rising popularity of minimally invasive surgeries due to advantages like reduced surgical trauma, faster recovery times and better cosmetic outcomes for patients.

The Global Specimen Retrieval Bag Market is estimated to be valued at US$ 355.24 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Specimen Retrieval Bag market are MANN+HUMMEL, Mahle GmbH, Denso Corporation, Robert Bosch GmbH, Donaldson Company, Inc., Clarcor Inc. (Acquired by Parker Hannifin Corp), Sogefi SpA, Hengst SE, ACDelco (Subsidiary of General Motors), Cummins Inc., Fram Group, K&N Engineering, Inc., Freudenberg Group, WIX Filters (MANN+HUMMEL), UFI Filters. These players are focusing on new product launches and expansion in emerging markets to gain a competitive edge.

The increasing adoption of laparoscopic and robotic surgeries across various medical specialties presents significant growth opportunities for players in the specimen retrieval bag market. Asian countries with growing medical tourism industries like India and China also provide lucrative opportunities for global market expansion.

Rising demand for single-use bags due to concerns about infection transmission is expected to drive the global market. Players are investing in emerging Asian and Latin American markets experiencing fast-paced economic and infrastructure development.

Market drivers:

1) Growing preference for minimally invasive surgeries: The increasing preference for minimally invasive surgeries such as laparoscopy and robotic surgeries is a major growth driver for the specimen retrieval bag market. Minimally invasive surgeries offer benefits like smaller incisions, lesser pain and scarring, shorter hospital stay, and faster recovery which has resulted in their rising popularity.

2) Increasing Healthcare Expenditure: Rising healthcare expenditure in developing countries is also fueling the adoption of advanced medical technologies and tools in these regions. This increased access to healthcare and rising per capita income are expected to drive the demand for specimen retrieval bags.

Market restraints:

1) Reusable bags: Reusable stainless steel or polymer bags can be used multiple times after sterilization and offer cost savings over single-use bags. This may restrain the single-use bag market to some extent.

2) Lack of standardization: The lack of standardization in laparoscopic surgical procedures and availability of varied procedural protocols across hospitals and regions can affect the quantity and type of specimen retrieval bags required. This affects market demand unpredictably.

Segment Analysis

The global Specimen Retrieval Bags Market Demand is dominated by the 5-10 ml sub segment. These bags are portable and allow for easy transportation of specimens without leakages. Their small size makes them ideal for retrieving smaller specimens like biopsy tissues. They are preferred by healthcare professionals for procedures like laparoscopic surgeries where only a small amount of tissue needs to be extracted for testing. The 2-5 ml sub segment is expected to witness higher growth during the forecast period due to rise in minimally invasive surgeries.

Global Analysis

The North America region currently holds the largest share in the global Specimen Retrieval Bag market owing to high healthcare spending and presence of major players. Asia Pacific is projected to experience the fastest growth during the forecast period. This can be attributed to increasing patient pool, growing medical tourism, and rising healthcare expenditure in emerging economies like China and India. The growing prominence of minimally invasive surgeries in the region is also driving the demand for specimen retrieval bags. Europe holds a significant share due to well-established medical infrastructure and stringent regulations regarding specimen containment and safety.

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