Specimen Retrieval Market: Global Opportunity Analysis and Industry Forecast, 2019-2027. Market

Specimen retrieval is the process of temporarily retaining and removing of specimen from patient body during the course of laparoscopic surgeries. It is designed to minimize contamination of abdominal cavity by isolating and containing the specimen and thus, improving patient safety and patient outcome. Specimen retrieval most widely used in various surgeries, especially in minimal invasive surgeries and laparoscopic surgeries. Minimally invasive surgery is fueling the growth of the specimen retrieval market. The global specimen retrieval market is experiencing a significant growth, and will grow considerably in the next few years. North America is the major player of specimen retrieval market.

COVID-19 Scenario Analysis:

To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. The outbreak of COVID-19 pandemic affect the specimen retrieval market. It affects the demand and supply chain of the devices, affecting business of the major key players, and decreasing the growth in the market. Patients are unable to take treatment due to fear of spread of the infectious disease. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

By region, North America dominates the global specimen retrieval system market due to well-developed hospital facilities, rising adoption of new technologies, rising geriatric population and increasing occurrence of chronic diseases. While Europe, witnesses increase in market size owing to chronic diseases in this region. Whereas, Asia-Pacific is expected to drive the growth rate of the specimen system market due to increasing geriatric patient population, rising demand for surgeries and rising healthcare infrastructure. The driving factors include rising occurrence of chronic diseases, technological advancement in various surgeries, rising requirement for surgical instrument including laparoscopic surgeries, rising demand for specimen retrieval system and others. The factors that restrain the market growth such as high cost of specimen retrieval system, slow development in specimen retrieval system, unawareness about the specimen retrieval system, and others. Opportunities available in specimen retrieval system market for global, medium and new entrant into the market include increase advancement in various technologies, increasing ambulatory surgical center, increasing geriatric population, increasing chronic diseases, and others. 

New product launches to flourish the market:

New products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of device and overall functionality as well. Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on the utilization. The implementation of this device in the system would optimize performance while lowering the cost of product and total cost of solutions. In 2019, “Johnson & Johnson”, launched “ENDOPOUCH RETRIVER Specimen Bag”, this system helps to support arms to facilitate bag opening and tissue capture during a laparoscopic procedure, and it is used to extract specimens. In 2019, “Teleflex incorporation”, launched “Weck-Memobag” specimen retrieval system, this device easy to handle and protect against contamination in the operating field. In 2019, “Medtronic”, launched “ReliaCatch” Specimen Retrieval Bag “which helps to bring strength simplicity, reliability to the operating room. 

Key benefits of the report:

• his study presents the analytical depiction of the global specimen retrieval industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global specimen retrieval market share.
• The current market is quantitatively analyzed to highlight the global specimen retrieval market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global specimen retrieval market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Specimen Retrieval Market research report:

• Which are the leading market players active in the specimen retrieval market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the specimen retrieval market?
• What are the projections for the future that would help in taking further strategic steps?

 Specimen Retrieval Market: Global Opportunity Analysis and Industry Forecast, 2019–2027. Report Highlights