Specimen Retrieval Bag Market Rising number of acquisitions and collaborations by the market players are expected to boost growth of the market

Specimen retrieval bags are used in the laparoscopic (abdomen and pelvic) surgical procedures. These bags are designed to reduce contamination of the abdominal cavity during surgeries. These tear-resistant high-quality bags are mainly made of nylon and is coated by polyurethane. The specimen retrieval bag has an open end, closed end, and longitudinal axis for the collection of biological materials. It is a single use surgical instrument.

Market Dynamics

Increasing prevalence of gastrointestinal and uterine cancer, gynecological disorders, gall bladder stones, and hernia are expected to propel global demand for specimen retrieval bag over the forecast period. For instance, according to the American Institute of Cancer Research, endometrial cancer is the sixth most commonly occurring cancer in women and estimated 380,000 new cases were reported in 2018. Moreover, according to the same source, U.S., Canada, and Russia accounted for the 20.1%, 23.6 % and 18.7% per 100,000 population of endometrial cancer respectively in 2018.

Moreover, rising product approvals by the regulatory bodies is expected to propel the market growth over the forecast period. For instance, in November 2016, Covidien, a part of Medtronic received the 510(K) from the U.S. Food and Drug Administration (FDA) approval for ReliaCatch specimen retrieval bag of 10mm and 12 mm made from ripstop nylon and to be used in specimen retrieval.

Specimen Retrieval Bag Market – Regional Analysis

North America is expected to hold a dominant position in the global specimen retrieval bag market in 2018, owing to rising number of colon, pancreatic, and other cancer in the region. For instance, according to the article published in Gastroenterology Journal, 2018, around 139,773 new cases of colon and 46,477 of pancreatic cancer was estimated in the U.S. in 2014.