Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) — The “U.S. Laparoscopic Retrieval Bag Market Size, Share & Trends Analysis Report By Type (Detachable, Non-Detachable), By Technique (Manual Opening, Automatic Opening), By Surgeries, By End Use, By Region, And Segment Forecasts, 2024 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. laparoscopic retrieval bag market size was estimated at USD 185.60 million in 2023 and is projected to grow at a CAGR of 6.90% from 2024 to 2030
The laparoscopic retrieval bag market in the U.S. is driven by the growing demand for minimally invasive surgeries and a growing number of laparoscopic bariatric, gynecological & urological surgeries. Furthermore, the increasing prevalence of obesity in the country is expected to boost the demand for laparoscopic retrieval bag market.
Trends that are shaping the laparoscopic retrieval bag market in the U.S. include the development of specialized designs to meet the specific demands of various surgical procedures, reusable bags, and integration of laparoscopic retrieval bags with automated systems are increasingly becoming popular. For instance, EndoCatch retrieval bag, offered by Medtronic, is a cutting-edge solution for laparoscopic retrieval bag market. This innovative device features a rigid frame that enables easy specimen capture and extraction.
The market growth stage is medium, and the pace of the market growth is accelerating. The market is characterized by increasing demand for laparoscopic surgeries coupled with growing prevalence of obesity, gynecological and urological diseases.
The market has witnessed a moderate to high degree of innovation in recent years. The market is witnessing the introduction of new products with advanced features, improved designs, and enhanced types, which have significantly impacted the industry. Some of the innovations include the use of bags in a wide range of procedures, unique deployment mechanisms, an innovative guide bead that makes it easy to reopen and close the bag, and color-coded bags to facilitate the choice of size.
Some companies have also developed ripstop nylon retrieval bags which are a popular choice for laparoscopic retrieval due to their durability, tear resistance, ease of use, and breathability. They offer several benefits, including increased surgeon confidence, improved patient safety, reduced cost, and enhanced visualization. For instance, Medtronic is the only company that now offers a next-generation retrieval ripstop nylon retrieval bag.
The market is regulated by the Food and Drug Administration (FDA), which oversees the safety and effectiveness of medical devices, including laparoscopic retrieval bags. The FDA’s regulatory framework provides a framework for the development, testing, and approval of new products. Laparoscopic retrieval bags are classified as Class I or II devices, depending on their level of risk. Class I devices are considered low-risk and are subject to minimal regulation, while Class II devices are considered moderate-risk and are subject to more stringent regulations.
Regulations often set standards for safety and efficacy, driving manufacturers to invest in R&D to meet these requirements. Companies prioritize the development of innovative features and advancements in existing technologies to not only meet regulatory requirements but also to ultimately enhance patient outcomes and improve healthcare quality.
Compliance with these regulations is mandatory, which can increase the cost and time required for product development and market entry. Additionally, Medicare and Medicaid policies influence the procurement strategies of Clinics, especially with regard to reimbursement rates and coverage for advanced medical equipment.
Market players are focusing on expanding their product portfolios to cater to a broader range of patient needs. The use of advanced types, such as nylon bags, color-coded bags, and large volume bags is expected to increase in the development of new products. Further, manufacturers are also focusing on developing products that cater to specific surgical procedures and patient needs, while also integrating their products with other instruments and systems.
Within the market, many companies focus on addressing several patient demographics or meeting specific therapeutic requirements. The market includes large, established companies such as Medtronic, CONMED Corporation, Teleflex Incorporated, Johnson & Johnson Services, Inc. (Ethicon), and Applied Medical Resources Corporation which offer a broad range of products and have significant market shares.
Forming strategic partnerships or collaborations with local distributors, healthcare providers, and key opinion leaders can facilitate market entry and accelerate adoption. Collaborating with established entities can provide valuable insights into regional market nuances, regulatory requirements, and customer preferences.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $185.6 Million |
| Forecasted Market Value (USD) by 2030 | $295.34 Million |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | United States |
Market Dynamics
Market Driver Analysis
- Growing demand for minimally invasive surgical procedures
- Growing prevalence of gynecological diseases such as endometriosis, uterine fibroids, and ovarian cysts, among others
Market Restraint Analysis
- Alternative treatment options
- Regulatory hurdles
Market Opportunities Analysis
- Advancements in product design and features
- Expansion into online sales channels
U.S. Laparoscopic Retrieval Bag Market Analysis Tools
- Industry Analysis – Porter’s Five Forces
- PESTEL Analysis
Competitive Landscape of the Leading Players
- Medtronic
- CONMED Corporation
- Teleflex Incorporated
- Johnson & Johnson Services, Inc. (Ethicon)
- Applied Medical Resources Corporation
- Company Overview
- Financial Performance
- Product Benchmarking
- Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/2q3orv
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