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Specimen Retrieval Market - By Type (Detachable, Non-detachable), By Application (Gynecological surgeries, Urological surgeries, Gastrointestinal surgeries), By End-use (Hospital, Ambulatory surgical centers) – Global Forecast 2024-2032
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Specimen Retrieval Market
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Premium Report Details
Base Year: 2023
Companies covered: 10
Tables & Figures: 213
Countries covered: 22
Pages: 170
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Specimen Retrieval Market Size
Specimen Retrieval Market size was valued at around USD 288.3 million in 2023 and is estimated to reach over USD 449.9 million by 2032. The increasing awareness regarding surgical treatments along with the rising demand for minimally invasive surgery is anticipated to drive the market growth globally.
The escalating demand for minimally invasive surgery (MIS) procedures, encompassing laparoscopic and endoscopic interventions, is a significant factor behind growing demand for specimen retrieval systems. For instance, according to the Cleveland Clinic, in 2022, over 13 million laparoscopic procedures are performed globally every year. This surge in demand is mainly due to the benefits associated with MIS, such as smaller incisions, reduced postoperative pain, quicker recovery times, and a lower risk of complications.
Moreover, as patients and healthcare providers become more informed about different surgical options, there is a growing preference for less invasive approaches that offer quicker recovery times, reduced postoperative pain, and smaller incisions. Specimen retrieval devices are crucial in facilitating the removal of tissue samples or organs with minimal trauma, aligning with the preferences of patients. Thus, rising patient awareness, increasing educational initiatives, and adoption of minimally invasive surgeries are crucial factors expected to propel the specimen retrieval market expansion.
Specimen retrieval refers to the process of safely and efficiently recovering biological samples or tissues that have been removed during a surgical procedure such as organs, tissues, or lesions are excised for diagnostic or therapeutic purposes. This process involves the use of specialized devices to retrieve these samples from the surgical site, ensuring their intact and sterile transfer for further analysis, examination, or pathological evaluation.
The limited use of advanced medical systems in emerging nations is one of the major factors impeding the growth of the market. Emerging nations often face challenges related to healthcare infrastructure, including limited access to advanced medical facilities and technologies. The lack of well-equipped hospitals and surgical centers hinders the widespread adoption of advanced specimen retrieval systems.
Moreover, economic constraints in many low/middle income countries results in budgetary limitations for healthcare expenditures. The acquisition and maintenance costs associated with advanced medical systems may be prohibitive, leading to slower adoption rate of specimen retrieval systems in these regions.
COVID-19 Impact
The outbreak of COVID-19 had negatively impacted the specimen retrieval market revenue in 2020. The unprecedented challenges brought about by the pandemic have resulted in both short-term disruptions and long-term shifts in the dynamics of this industry. Manufacturers of specimen retrieval faced challenges in sourcing raw materials and components, causing delays in production and delivery. This, in turn, impacted the availability of specimen retrieval in the market.
Specimen Retrieval Market Trends
The specimen retrieval industry is experiencing a notable growth, driven by the escalating burden of chronic diseases. This surge is primarily attributed to the rising incidence of chronic conditions such as cancer, cardiovascular diseases, and gastrointestinal disorders.
Specimen Retrieval Market Analysis
The market by type is segmented into detachable specimen retrieval systems and non-detachable specimen retrieval systems. The detachable specimen retrieval systems segment accounted for the majority of revenue share and was valued at around USD 155.9 million revenue in 2023.
Based on application, the specimen retrieval market is categorized into gynecological surgeries, urological surgeries, gastrointestinal surgeries, and other applications. The gynecological surgeries segment dominated the market and accounted for over 37.35% market share in 2023 and is anticipated to witness significant growth during the forecast period.
The specimen retrieval market by end-use is categorized into hospital, ambulatory surgical centers, other end-users. The hospital segment accounted for over USD 140.2 million in revenue size in 2023.
North America specimen retrieval market accounted for USD 130.4 million revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
Specimen Retrieval Market Share
The specimen retrieval industry is fragmented in nature, with companies competing to offer superior specimen retrieval systems in this business space. Prominent players such as Johnson & Johnson Services, Inc., Teleflex Incorporated, Applied Medical Resources Corporation hold a significant share in this market. These companies are diligently directing their efforts towards continuous type innovation to gain substantial market share.
Specimen Retrieval Market Companies
Some of the eminent market participants operating in the specimen retrieval industry include:
Specimen Retrieval Industry News:
Specimen retrieval market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Type, 2018-2032 (USD Million)
By Application, 2018-2032 (USD Million)
By End-use, 2018-2032 (USD Million)
The above information is provided for the following regions and countries: