Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Specimen Retrieval Market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation:

After arriving at the overall market size using the market size estimation processes the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Specimen Retrieval Market.

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Expected Revenue Growth:

The specimen retrieval systems market is expected to grow from USD 230 million in 2019 to USD 290 million by 2024, at a compound annual growth rate (CAGR) of 4.7% during the forecast period.

Major Growth Boosting Factors:

The major factors driving the growth of this market include the increasing prevalence of diseases requiring surgical treatment and removal of specimens from the body, especially laparoscopic procedures.

Recent developments:

# In 2018, Genicon, Inc. entered into a distribution agreement with Greenpine Pharma, China to distribute its complete range of products in China.

# In 2017, B. Braun opened five new production and administration facilities in Penang to cater to end users in Malaysia. The company aims to manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments in these facilities.

Geographical Growth:

North America commanded the largest share of the specimen retrieval systems market in 2018

North America dominates the Specimen Retrieval Market. The large share of North America in this market can be attributed to the increasing incidence and prevalence of cancer, hernia, and appendectomy and the availability of reimbursement for laparoscopic surgeries in the region.

Global Leaders:

Some of the major players in this 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).

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