Market Size of Laparoscopic Retrieval Bags Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.10 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Laparoscopic Retrieval Bags Market Analysis
The laparoscopic retrieval bags market is projected to register a CAGR of 4.1% during the forecast period.
The onset of the COVID-19 pandemic considerably impacted the studied market. Initially, global surgeries were hampered due to the increased risk of infection among patients with comorbidities. Due to the closure of hospitals and clinics, including manufacturing sites, the demand for surgical devices decreased. This marginally impeded the growth of the market. However, the adoption of laparoscopic surgeries increased for various applications following favorable research that advised few guidelines to follow while performing surgeries to reduce infection and transmission. For instance, according to an article published in the Journal of Laparoendoscopic and Advanced Surgical Techniques in April 2021, scientists who conducted an observational study among the total population found that 70.83% of males and 29.16% of females required urgent laparoscopic surgery for acute cholecystitis and complications related to acute cholecystitis during the pandemic. Thus, such instances argue that several laparoscopic procedures continued following all the regulations during the later phase of the pandemic. Additionally, currently, with the global situation coming to pre-COVID levels, the demand for laparoscopic surgeries is also increasing, which is augmenting the growth of laparoscopic retrieval bags (LRBs) used during surgeries.
The growing prevalence of various lifestyle-associated chronic diseases such as urological disorders, gastrointestinal (GI) disorders, and cancer, and increasing emphasis on patient safety during complicated surgeries are some of the factors expected to drive the overall market growth.
GI disorders are increasing globally and are creating demand for minimally invasive surgeries (MIS) or laparoscopic surgeries. For instance, as per the February 2022 update by WHO, 1.93 million new cases of colon and rectum cancers were diagnosed globally in 2020. As per the source above, colon cancer is one of the most common cancers in the world. Hence, the high burden of colon cancer creates demand for laparoscopic surgeries and is expected to create opportunities for LRBs used during the procedures. This is expected to contribute to market growth.
Additionally, the LRBs are also widely adopted for other MIS, including cholecystectomy, hysterectomy, oophorectomy, and hernia repair. For instance, during a pelvic examination or on an imaging test, such as a pelvic ultrasound, an ovarian cyst may be discovered. Cyst removal is necessary depending on its size or its nature- if it's cancerous or not. According to an August 2022 update by the Mayo Foundation for Medical Education and Research (MFMER), cyst removal surgery can often be done using MIS. This is further likely to increase the demand for LRBs used during surgeries, thereby contributing to market growth.
However, a lack of awareness about the target diseases in developing nations and the high cost of the retrieval bags available in the market may hinder the market growth during the analysis period.
Laparoscopic Retrieval Bags Industry Segmentation
Laparoscopic retrieval bags are used to collect specimens such as adnexal cysts, benign cysts, and other tissue masses while avoiding spillage and contamination to other organs. The Laparoscopic Retrieval Bags Market is segmented by Type (Detachable Retrieval Bags, Non-detachable Retrieval Bags), Technique (Manual Opening and Automatic Opening), Application (Gastrointestinal Surgeries, Gynecological Surgeries, Urological Surgeries, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of World). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Type | |
Detachable Retrieval Bags | |
Non-detachable Retrieval Bags |
By Technique | |
Manual Opening | |
Automatic Opening |
By Application | |
Gastrointestinal Surgeries | |
Gynecological Surgeries | |
Urological Surgeries | |
Other Applications |
Geography | ||||||||
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Rest of World |
Laparoscopic Retrieval Bags Market Size Summary
The laparoscopic retrieval bags market is experiencing a steady growth trajectory, driven by the increasing adoption of minimally invasive surgeries (MIS) and the rising prevalence of chronic diseases such as urological and gastrointestinal disorders. The market's expansion is supported by the growing demand for laparoscopic procedures, which have gained traction post-COVID-19 due to their ability to minimize infection risks. The market is further bolstered by the need for advanced surgical tools that enhance patient safety and procedural efficiency. Despite challenges such as high costs and limited awareness in developing regions, the market is poised for growth, with significant opportunities in the treatment of conditions like colon cancer and bladder-related issues.
North America holds a dominant position in the laparoscopic retrieval bags market, driven by the region's robust healthcare infrastructure, favorable reimbursement policies, and high disease prevalence. The adoption of innovative healthcare technologies and the increasing number of laparoscopic surgeries for various conditions, including uterine cancer and digestive disorders, are key factors contributing to market growth in this region. The competitive landscape is characterized by the presence of both global and local players, with companies like Medtronic, Johnson & Johnson, and Richard Wolf GmbH leading the charge. The market's competitive nature and the ongoing demand for sophisticated medical tools present lucrative opportunities for industry participants, particularly in emerging economies.
Laparoscopic Retrieval Bags Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Demand for Minimally Invasive Surgery
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1.2.2 Growing Burden of Target Diseases
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1.3 Market Restraints
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1.3.1 High Cost of the Retrieval Bags Available in the Market
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD million)
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2.1 By Type
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2.1.1 Detachable Retrieval Bags
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2.1.2 Non-detachable Retrieval Bags
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2.2 By Technique
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2.2.1 Manual Opening
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2.2.2 Automatic Opening
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2.3 By Application
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2.3.1 Gastrointestinal Surgeries
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2.3.2 Gynecological Surgeries
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2.3.3 Urological Surgeries
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2.3.4 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Rest of World
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Laparoscopic Retrieval Bags Market Size FAQs
What is the current Laparoscopic Retrieval Bags Market size?
The Laparoscopic Retrieval Bags Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Laparoscopic Retrieval Bags Market?
Johnson & Johnson , Medtronic, Richard Wolf GmbH , Vernacare and Purple Surgical are the major companies operating in the Laparoscopic Retrieval Bags Market.