Rising Adoption of Minimally Invasive Surgeries is Expected to Drive the Growth of the Specimen Retrieval Bag Market

 
Specimen Retrieval Bag Market

Specimen retrieval bags are sterile pouches used to remove specimens such as tissue or fluid from the body during minimally invasive surgery without contaminating the operating room or compromising sterility. They are typically made from medical-grade plastic and have drawstrings at the top to close tightly after use. Some key uses of specimen retrieval bags include laparoscopic appendectomy, laparoscopic cholecystectomy (gallbladder removal), laparoscopic hysterectomy, and removal of lesions or tumors.


The global specimen retrieval bag market is primarily driven by the increasing preference for minimally invasive surgeries over traditional open surgeries. Minimally invasive procedures are associated with reduced postoperative pain, shorter hospital stay, and faster recovery times compared to open surgeries. They cause minimal damage to surrounding tissues and reduce surgical scarring. As such, they are the preferred option for various general surgical procedures. The advancement of laparoscopic techniques has also boosted the adoption of specimen retrieval bags.

The global specimen retrieval bag market is estimated to be valued at US$ 308.36 Mn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global specimen retrieval bag market is primarily driven by increasing adoption of minimally invasive surgeries and technological advancements in laparoscopic techniques. According to the American Society for Metabolic and Bariatric Surgery, in the U.S., the number of annual bariatric and metabolic surgeries has increased from 158,000 procedures in 2011 to 252,000 procedures in 2018. A majority of these procedures were performed using minimally invasive techniques. The preference for minimally invasive approaches stems from favorable outcomes compared to traditional open surgeries such as less postoperative pain, fewer surgical scars, faster recovery, and shorter hospital stay.

Another key driver is the continuous development of advanced energy devices and articulating instruments used in minimally invasive procedures. Newer generation devices offer improved visualization, tool maneuverability, tissue effect, and procedural versatility. They enable complex abdominal surgeries to be performed using small incisions compared to open techniques. As a result, the usage of specimen retrieval bags has increased in line with rising adoption of minimally invasive modalities.


Segment Analysis
There are four key segments in the Specimen Retrieval Bag Market. The sealing segment dominates with around 35% market share as sealing bags ensure no spills or leaks during transportation of specimens. These bags have reliable sealing technology like zip-lock features or reinforced adhesive strips to prevent accidental openings during handling.

PEST Analysis
Political: The market is positively impacted by regulations supporting use of retrieval bags in surgical procedures. However, varying laws across countries can restrain market growth to some extent.
Economic: Rising healthcare spending and growing economy have increased budget for surgical consumables like retrieval bags. Higher disposable incomes also support market expansion.
Social: Growing geriatric population undergoing various surgeries and increase in number of surgeries performed are key social factors driving the need for specimen retrieval bags.
Technological: Automation in bag sealing technologies has enhanced bag quality. Advances in material sciences are allowing development of improved polymer mixes for greater strength and barrier properties in bags.

Key Takeaways
The Global Specimen Retrieval Bag Market is expected to witness high growth over the forecast period of 2023 to 2030. The global specimen retrieval bag market is estimated to be valued at US$ 308.36 Mn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030.

The North American region currently dominates due to large number of surgical procedures carried out and presence of major players. This is attributed to factors such as increasing healthcare spending, rising prevalence of chronic diseases, and technological advancements in the healthcare sector of the countries in the region.

Key players: The key players operating in the specimen retrieval bag market are BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc., and Medical Marijuana Inc. BOL Pharma leads the market with innovative sealing mechanisms while Medreleaf has a wide product portfolio.

Comments

Post a Comment

Popular posts from this blog

The Global Electric Powertrain Market Poised for Growth Driven by Sustainable Transportation

Image
  Electric Powertrain Market The global electric powertrain market is seeing rapid adoption as consumers seek more environmentally friendly transportation options. Electric powertrains offer much lower operating costs than internal combustion engines while also being more energy efficient with fewer moving parts. Battery electric vehicles and hybrids containing electric motors and batteries are able to deliver torque instantly for smooth acceleration and regenerative braking that captures kinetic energy to charge the batteries while slowing down. Automakers are developing advanced powertrain technologies that combine smaller, lighter electric motors with improved batteries capable of longer ranges between charges. The global Electric Powertrain Market is estimated to be valued at US$ 94.12 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the ...
Read more

The Bladder Liners Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Urinary Incontinence

Image
  Bladder Liners Market Market Overview: Benzodiazepines are a class of psychoactive drugs belonging to the benzodiazepine family. These drugs are prescribed for various medical conditions such as anxiety disorders, panic disorders, insomnia, seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid. Some common examples of benzodiazepines include alprazolam, clonazepam, diazepam, and lorazepam. These drugs work by increasing the action of gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the central nervous system. Due to their calming properties, they are widely used to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms, and alcohol withdrawal. Market Dynamics: The Benzodiazepine Drugs Market is primarily driven by the rising prevalence of anxiety disorders worldwide. As per Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting nearly 40 million ...
Read more

Poultry Market is Expected to be Flourished by Growing Demand for Protein-Rich Food

Image
Poultry Market The poultry market comprises farming of domesticated birds such as chickens, ducks, turkeys, and geese, primarily for their meat and eggs. Poultry meat is one of the most consumed meats globally owing to its high protein content. Chicken is the most commonly produced meat worldwide, with over 95 million tons produced annually. Poultry farming provides affordable animal protein to consumers while generating income and employment for farmers and allied industries. The global poultry industry includes large integrated production facilities, small commercial farms, and backyard flock operations. Technological advancements have increased efficiency in breeding, hatching, feeding, housing, and disease control. The global poultry market is estimated to be valued at US$ 15.88 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: One of the key driv...
Read more