In a recent published report, Kenneth Research has updated the market report for Specimen Retrieval Systems Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Specimen Retrieval Systems Market products.
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The Specimen retrieval market is projected to be valued at around USD 240 million in 2021 and likely to expand at a CAGR of ~5% over the period 2022-2030. Specimen retrieval is the process of temporarily retaining and removing samples from patients during laparoscopic surgery. It aims to minimize contamination of the abdominal cavity by isolating and containing samples, thereby improving patient safety and results. The materials are more widely used in various operations, especially minimally invasive surgery and laparoscopic surgery. Minimally invasive surgery is driving the growth of the specimen retrieval market. The global sample recovery market is experiencing significant growth and will grow significantly in the coming years. North America is the largest player in the sample recovery market. COVID -19
SCENARIO ANALYSIS:
In order to serve the infected population, the demand for medical supplies is increasing. Respiratory support equipment such as nebulizers, life support machines, oxygen generators and monitors are the most widely used medical equipment in primary clinical management. In addition, COVID-19 has led to a significant increase in the demand for medical supplies, such as personal protective equipment, including masks, gloves, and goggles. With the increase in the number of COVID-19 cases worldwide, the demand for medical supplies from healthcare professionals and civilians continues to increase to take preventive measures. Manufacturers of these products have the opportunity to take advantage of the growing demand for medical supplies to ensure that adequate and continuous personal protective equipment is provided to the market. The outbreak of the COVID-19 pandemic has affected the sample recovery market. It affects the demand for equipment and the supply chain, affects the business of major key players, and slows down market growth. Due to concerns about the spread of infectious diseases, patients cannot receive treatment.
MAIN INFLUENCING FACTOR:
Market scenario analysis, trends, driving factors and impact analysis: Divided by region, due to improved hospital facilities, the adoption of new technologies, the increase in the elderly population and the emergence of chronic diseases. .In Europe, due to chronic diseases in the region, witnessed the expansion of the market. However, due to the increase in the number of elderly patients, the increase in surgical demand, and the increase in medical infrastructure, the Asia-Pacific region is expected to promote the growth of the sample system market. The driving factors include the increase in the incidence of chronic diseases, the technological advancement of various operations, the increase in the demand for surgical instruments including laparoscopic surgery, and the increase in the demand for sampling systems. Factors hindering market growth, such as high cost of sample recovery system, slow development of sample recovery system, lack of knowledge of sample recovery system, etc. New, medium-sized and global market entry opportunities for sample retrieval systems include various technological advancements, the increase in outpatient surgery centers, the increase in the elderly population, and the increase in chronic diseases.
INTRODUCE NEW PRODUCT TO MAKE THE MARKET PROSPER :
Major market participants have launched new products with enhanced functions. They have taken the necessary measures to improve the accuracy and overall functionality of the equipment. Manufacturers focus on producing new products for specific applications, because there are different needs depending on the use. Implementing this device in the system will optimize performance while reducing product costs and the total cost of solutions. In 2019, “Johnson & Johnson” launched the “ENDOPOUCH RETRIVER Specimen Bag”, a system that helps support the arm and facilitates bag opening and tissue capture during laparoscopic surgery for sample extraction. In 2019, “Teleflex Company” launched the “Weck-Memobag” sample retrieval system, which is easy to operate and prevents contamination of the surgical area. In 2019, “Medtronic” launched the “ReliaCatch” sample retrieval bag, bringing strength, simplicity and reliability to the operating room.
THE MAIN ADVANTAGE OF THE REPORT :
Their research provides an analytical overview of the global sample recovery industry as well as current trends and future estimates to identify imminent investment pockets. The report provides information related to key drivers, constraints and opportunities, as well as a detailed analysis of the global sample recovery market share. A quantitative analysis of the current market from 2022-2030 is carried out to highlight the growth scenario of the global sample recovery market. PorteRs five forces analysis illustrates the power of buyers and suppliers in the market. The report provides a detailed analysis of the global sample recovery market based on the intensity of competition and how competition will be formed in the next few years.”
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