The major limiting factor as to when it can be transferred to the bag is when the umbilical vessels are large enough to safely and efficiently cannulate. Oxygenation, nutrient delivery and waste removal are all done via the umbilical vessels through external devices.
The biggest road block in growing a baby in a bag fully ex utero would be the period before when the umbilical vessels are accessible. Before this time in utero, local mommy angiogenesis in the wall of the placenta serves the role of the umbilical vessels. Replicating this ex utero is a completely different problem.