Sarasota, FL -- (SBWIRE) -- 03/29/2019 -- Global Specimen Retrieval Market: Overview
Specimen retrieval systems are widely used in laparoscopic surgical procedures to temporarily contain specimen and facilitate their removal from the patient's body. They are designed to minimize contamination of the abdominal cavity by isolating and containing the specimen. These devices are mostly used in minimally invasive surgical procedures.
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Global Specimen Retrieval Market: Growth Factors
The growth of the specimen retrieval market is mainly due to the rising prevalence of diseases requiring surgical treatment along with an increase in the number of laparoscopic procedures conducted globally for removing specimens from the human body system. Rising awareness about the specimen retrieval systems among the patients has also played a vital part in supporting the growth of specimen retrieval market. Emerging markets are expected to be key growth hotbeds for specimen retrieval systems over the forthcoming years as developed countries have reached saturation in terms of the product demand. However, the high costs of these systems have also put them beyond the reach of a large chunk of end users in emerging markets and this may impact the overall market growth in the coming years. Nevertheless, developing countries with massive funding on healthcare activities and medical research will offer new growth opportunities for the specimen retrieval market.
Furthermore, the rise in the use of these systems in gastrointestinal surgeries, urological surgeries, gynecological surgeries, and cardiovascular and bariatric surgeries will further impel the specimen retrieval market growth.
Global Specimen Retrieval Market: Segmentation
Specimen retrieval market is classified into bag size, type, application, and end user. On the basis of bag size, the specimen retrieval market is sectored into 5, 10, 15, and 25 mm. Based on the type, the market is segmented into detachable and non-detachable types. Application wise, the market is sectored into gynecology, urology, and gastrointestinal surgery. On the basis of the end user, the market is sectored into hospitals, ambulatory surgical centers, and nursing home.
Global Specimen Retrieval Market: Regional Analysis
Based on regions, the global specimen retrieval market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is likely to dominate the global specimen retrieval market share over the coming years, owing to the increasing incidence and prevalence of cancer, hernia, and appendectomy and the availability of reimbursement for laparoscopic surgeries in the region.
Asia Pacific is projected to register the highest CAGR in the global specimen retrieval market during the forecast period. Growth in the APAC region is largely driven by the rising patient population and increasing infrastructural development.
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Europe, MEA, and LATAM regions have a huge market growth potential and are likely to drive the overall market earnings over the years to come.
Global Specimen Retrieval Market: Competitive Players
Some of the major players in the specimen retrieval market include 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).
Global Specimen Retrieval Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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