Market Trends of Laparoscopic Retrieval Bags Industry
This section covers the major market trends shaping the Laparoscopic Retrieval Bags Market according to our research experts:
Urological Surgeries Segment is Expected to Witness Significant Growth Over the Forecast Period
Urology deals with conditions affecting the kidneys, bladder, and prostate as well as incontinence, impotence, infertility, cancer, and reconstruction of the genito-urinary tract and affects people of all ages. Keyhole-sized incisions, specialized tools, and video displays (from a tiny camera implanted via the incisions) are all used by minimally invasive surgeons to treat or diagnose urologic conditions. With the increasing number of urological diseases, the demand for MIS for such conditions is increasing. This is expected to increase the application of laparoscopic retrieval bags in urological surgeries, which is further projected to drive segment growth over the forecast period.
Besides, the high prevalence of bladder-related issues also supports market growth. For instance, according to the 2022 update by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), approximately 3.3 million women suffer from the crippling and painful interstitial cystitis/bladder pain syndrome (IC/BPS), and 1.6 million men suffer from chronic prostatitis/chronic pelvic pain syndrome (CP/CPPS), every year in the United States, which includes urologic symptoms including pain when the bladder fills. A surgical procedure called cystoscopy with hydrodistension may be used to both diagnose and treat IC/BPS. Thus, with the high burden of such diseases, the demand for surgeries also increases, and this is further expected to fuel the segment's growth.
North America is Expected to Hold Major Share of the Market Over the Forecast Period
The North American region held the largest share and is expected to maintain the same growth trend over the forecast period. The adoption of laparoscopic retrieval bags in the region is high owing to rising acceptance of innovative healthcare technologies, high disease prevalence, better reimbursement policies, and increasing investments in improving healthcare infrastructure.
Rising applications for laparoscopic surgeries for various diseases are fueling market growth in the region. For instance, according to the American Society of Clinical Oncology (ASCO) 2022 update, an estimated 65,950 people in the United States are likely to be diagnosed with uterine or endometrial cancer in 2022. Additionally, per the source above, uterine cancer is the 4th most common cancer among women in the United States. In addition, according to an article published by the GI Alliance in February 2021, nearly 62 million Americans are diagnosed with a digestive disorder every year and are responsible for a major healthcare burden in the country. The prevalence of uterine cancer in the country is expected to drive the adoption of laparoscopic surgeries, which is further expected to generate demand for the LRBs used for such surgeries, hence driving the market growth.
The LRBs are also used to collect the excessive tissues that are removed during orthopedic surgeries. With increasing minimally invasive orthopedic surgeries in other countries across North America such as Canada and Mexico, the market studied is anticipated to grow over the forecast period. For instance, as per the December 2021 update by the government of Canada, compared to men the same age, Canadian women aged 65+ are more likely to be newly diagnosed with these chronic diseases such as osteoarthritis (OA), osteoporosis, and rheumatoid arthritis. In addition, according to an article published in IJERPH in June 2022, OA is a major cause of disability that is affecting 1 in 8 Canadians, which is expected to increase by 2040, and nearly 1 in 4 Canadians are anticipated to be affected by OA.
