Johnson & Johnson (Ethicon) and Medtronic (Covidien) are the Major Player in the Specimen Retrieval Market

PUNE, India, 2021-Aug-05 — /EPR Network/ —

Overview:

The study involved four major activities in estimating the current size of the Specimen Retrieval Mechanism Market. Exhaustive secondary research was conducted to collect information on the market and its subsegments. The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Expected Revenue Growth:

The specimen retrieval market is expected to reach USD 290 million by 2024 from USD 230 million in 2019, at a CAGR of 4.7%.

Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment and the removal of specimens from the body, especially laparoscopic procedures. However, the high cost of specimen retrieval systems is a major restraint for this market, particularly in emerging countries.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=126359758

Key Players:

The specimen retrieval market is highly consolidated in nature, with a few players offering a variety of products. The major players operating in this market are 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).

Growth Strategies Adopted by the Key Players:

The key growth strategies followed by most companies in the Specimen Retrieval Mechanism Market are acquisitions and agreements. These two strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018.

Johnson & Johnson (Ethicon) is the largest player in the specimen retrieval market. It has a strong foothold in the specimen retrieval systems market. Ethicon has a strong global distribution network and a good brand reputation among end users. The company’s strong presence and wide distribution channels across the globe have helped it in maintaining its leading position in the specimen retrieval systems market.

Medtronic (Covidien) is a major player in the specimen retrieval market. The company operates in four major segments—Cardiac & Vascular Group, Restorative Therapies Group, Minimally Invasive Therapies Group, and Diabetes Group. The company offers the Reliacatch Specimen Retrieval Bag, Endo Catch Gold Specimen Retrieval Pouch, and EndoBag Specimen Retrieval System through its Minimally Invasive Therapies Group. The company offers a wide range of specimen retrieval bags for various introducer sizes and volumes. Moreover, Medtronic’s strong geographical presence has helped it sustain its position in the specimen retrieval systems market.

Geographical Growth Dynamics:

“Asia Pacific to grow at the highest rate during the forecast period (2018–2023)”

The Specimen Retrieval Mechanism Market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). While North America dominated the market in 2018, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. Growth in the APAC is largely driven by the rising patient population and increasing infrastructural development in the region.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=126359758

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com