Albany, NY -- (SBWire) -- 05/20/2019 --Laparoscopic Retrieval Bags Market – Snapshot

Laparoscopic retrieval bags are used to collect specimen such as adnexal cysts, benign cysts, or other tissue masses and perform in-bag morcellation, while avoiding spillage and contamination to other organs. Laparoscopic specimen retrieval bags have been used in gynecological surgeries for several years. However, presently, these are widely adopted for other minimally invasive form of surgeries including cholecystectomy, hysterectomy, oophorectomy, and hernia repair. The conventional methods of specimen removal such as mechanical morcellation were risky, as there was a risk of spreading hazardous material from the tissues to be removed to the other healthy tissues. Hence, the FDA suggested use of additional bag and to morcellate the tissues in it to prevent cross contamination. Surgical procedures are witnessing a shift toward less invasive treatment methods. Technologies such as minimally invasive surgery and robotic surgery are being rapidly adopted. Rise in demand for minimally invasive surgery and non-invasive treatment devices and new product launches are projected to propel the global laparoscopic retrieval bags market during the forecast period. Efforts are being taken in various countries to spread awareness about chronic diseases and advantages of minimal invasive surgeries among the general population. According to the Urologic Diseases in America (UDA) project, around US$ 11 Bn is spent by the population of the U.S., annually, for the treatment and management of urological diseases.

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The global laparoscopic retrieval bags market has been segmented based on opening technique, deployment system, application, end-user, and region. In terms of application, the market has been classified into cholecystectomy, hysterectomy & oophorectomy, appendectomy, sleeve gastrectomy, hernia repair, and others. The cholecystectomy segment dominated the market in 2017. The segment is projected to expand at a high CAGR from 2018 to 2026. Sleeve gastrostomies have witnessed rapid adoption and are replacing gastric banding procedures owing to lower price and better results. Hence, the sleeve gastrectomy segment is anticipated to grow at a rapid pace and expected to gain market share during the forecast period. In terms of deployment system, the non-detachable retrieval bags segment dominated the market in 2017. Increase in adoption of laparoscopic procedures in the emerging markets is likely to drive demand for cost effective options of retrieval bags. This in turn is projected to boost the growth of the segment from 2018 to 2026.

Based on end-user, the global laparoscopic retrieval bags market has been categorized into hospitals, ambulatory surgical centers, clinics, and others. The hospitals segment accounted for major share of the global market in 2017, followed by the ambulatory surgical centers, clinics, and others segments. Increase in the number of multinational hospitals with advanced surgery techniques and adoption of technologically advanced laparoscopic retrieval bags are projected to drive the hospitals segment during the forecast period.

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In terms of region, the global laparoscopic retrieval bags market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for significant share of the global market in 2017, followed by Europe. Well-established health care facilities, favorable reimbursement policies, and early adoption of technologically advanced products for the management of surgeries contributed to North America's high market share. Europe is projected to be the second-most attractive market for laparoscopic retrieval bags from 2018 to 2026. The market in the region is anticipated to expand at a high CAGR during the forecast period, due to high prevalence and increase in incidence of urinary and gastrointestinal disorders and high per capita health care expenditure in the region.

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The global laparoscopic retrieval bags market is consolidated, with a number of companies accounting for majority market share. Key players operating in the global market include Johnson & Johnson Services, Inc. (Ethicon US, LLC.), Teleflex Incorporated, The Cooper Companies, Inc. (CooperSurgical, Inc.), Medtronic, and Genicon, Inc. These players exhibit significant geographic outreach, with presence in multiple laparoscopic retrieval bags segments. Manufacturers are adopting acquisition & collaboration and new product development strategies to tap the unmet needs of a large proportion of patient pool. Other prominent players in the global laparoscopic retrieval bags market include Applied Medical Resources Corporation, MetroMed Healthcare CO., LTD., LaproSurge, Richard Wolf GmbH, B. Braun Melsungen AG, and Vernacare.