Specimen Retrieval Market by Bag Size (5, 10, 15, 25 mm), Type (Detachable, Non-detachable), Application (Gynecology, Urology, Gastrointestinal Surgery), End User (Hospitals, Ambulatory Surgical Centers, Nursing Home) - Global Forecast to 2024
“Specimen retrieval systems market to register a CAGR of 4.7% from 2019 to 2024.”
The specimen retrieval systems 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 and the removal of specimens from the body, especially laparoscopic procedures. Emerging economies with growing healthcare expenditures are also expected to provide opportunities for the growth of the market.
“Non-detachable specimen retrieval systems accounted for a significant share of the market in 2018.”
By type, the specimen retrieval systems market is segmented into detachable specimen retrieval systems and non-detachable specimen retrieval systems. In 2018, the non-detachable specimen retrieval systems segment accounted for the largest market share. This segment is also expected to grow at the highest CAGR during the forecast period. This is mainly attributed to the high preference for these systems, as they can be used multiple times in a single procedure.
“By introducer size, the 12-15 mm introducers segment held the largest share in the specimen retrieval systems market in 2018.”
On the basis of introducer size, the specimen retrieval systems market is segmented into 5/8 mm, 10 mm, 12/15 mm, and 25 mm introducer size. In 2018, the 12/15 mm introducer size specimen retrieval systems segment accounted for the largest share of the specimen retrieval systems market. The large share of this segment can be attributed to the rising incidence of gastrointestinal and uterine cancer, gall bladder stones, and hernia.
“North America dominated the specimen retrieval systems market in 2018.”
North America, which includes the US and Canada, accounted for the largest share of the specimen retrieval systems market. The large share of this market segment 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.
Breakdown of supply-side primary interviews, by company type, designation, and region:
By Company Type: Tier 1 (20%), Tier 2 (45%), and Tier 3 (35%)
By Designation: C-level (30%), Director-level (20%), and Others (50%)
By Region: North America (35%), Europe (24%), Asia Pacific (25%), and RoW (16%)
This report studies the specimen retrieval systems market based on type, introducer size, application, end user, and regions. The report also analyzes factors (such as drivers, opportunities, and challenges) affecting market growth. It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total specimen retrieval systems market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the specimen retrieval systems offered by the top 10 players in the specimen retrieval systems market. The report analyzes the market by type, introducer size, end user, application, and region
Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various specimen retrieval systems across key geographic regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the specimen retrieval systems market
Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the specimen retrieval systems market
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