Medical Specialty Bags Market

SKU: DM2611 | Last Updated On: Sep 06 2022 | Available Formats

>Medical Specialty Bags Market is Expected to reach a high CAGR of 4.9% By 2029: DataM Intelligence

Medical Specialty Bags Market is segmented By Product (Urinary Collection Bags, Continuous ambulatory peritoneal dialysis (CAPD) bags, Anesthesia breathing bags, Blood bags, Ostomy collection bags, Enteral feeding bags, bile collection bags, Sterile packaging bags, Resuscitation bags, Intravenous (IV) fluid bags, Cadaver bags, Enema bags, Ice bags), By End-User (Hospitals, Surgical Centers, Healthcare centers, Home Healthcare, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022 - 2029

 

Medical specialty bags market size was valued at US$ 10.44 billion in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 4.9% during the forecast period (2022-2029).

Medical Specialty Bags Market Scope

Metrics

Details

Market CAGR

4.9%

Segments Covered

By Product, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To get a Free sample click here

Medical specialty bags are used in various applications such as urine collection, blood storage, bile collection, enteral feeding, sterile packaging, among others. These collection bags are manufactured with advanced materials to enhance their quality and are used to avoid any contamination. These medical specialty bags are highly used in hospitals to prevent the risk of any disease or infection. The rising demand for aseptic conditions in the medical institutes has increased the popularity of medical specialty bags globally.

Market Dynamics

The global medical specialty bags market growth driven by certain factors such as by increasing surgical procedures, such as ostomy procedures. The increasing incidence of several disorders such as colorectal cancer, diverticulitis, and IBD is driving the demand for surgical procedures are among the key factors driving the market growth.

Increasing surgical procedures, is expected to drive the global medical specialty bags market during the forecast period

The surgical procedures involve a lot of blood loss, and there is a need for blood transfusions, which is leading to higher adoption of medical specialty bags as these are used for the transfer of blood and blood components, renal dialysis and collection, processing, and storage. Therefore, the increasing number of surgical procedures, dialysis, and blood transfusion procedures are expected to stimulate market growth over the forecast period.

The growing geriatric population is one of the major factors responsible for the increase in incidences of urinary incontinence which is expected to drive the demand for urinary collection bags. Since the aged population is more prone to urinary incontinence, the demand for medical specialty bags is increasing. Chronic kidney disease (CKD) is more common in people aged 65 years or older (38%) than in people aged 45–64 years (13%) or 18–44 years (7%) according to Centers for Disease Control and Prevention (CDC).  Several countries are facing challenges due to the ongoing and increasing demographic shift in age among their people.  According to the Department of Economic and Social Affairs Population Division of United Nations, 2017, the world's population who are 60 years old will double and those of 80 years old will triple during the next 30 years.

Furthermore, the medical specialty bags market is expected to grow significantly over the forecast period due to the increasing technological advancements in the healthcare sector and improved medical facilities. The increasing awareness of hygiene and health is fuelling the growth of the medical specialty bags market. Also, growing support from government organizations positively affects market growth since they facilitate investments in the healthcare infrastructure, favorable reimbursement policies, and encouraging research and development activities.

COVID-19 Impact Analysis

Due to the outbreak of COVID-19, research labs have increased their research & development to find solutions that can minimize the symptoms of coronavirus at early stages. It is observed that the intravenous immunoglobulin and LMWH (Low-molecular-weight heparin) anticoagulant therapy holds promising potentials in improving the COVID-19 prognosis. Hence, companies in the IV bags and other medical specialty bags market are focusing on this trend and increasing their efforts to boost the production capabilities amidst the COVID-19 pandemic. Intravenous immunoglobulin and LMWH anticoagulant therapy can lower the lymphocytes and B lymphocytes in peripheral blood, resulting in improvements in patients. The initiation of IV immunoglobulin and LMWH anticoagulant therapy in COVID-19 patients is projected to create revenue opportunities for manufacturers of medical specialty bags. However, lack of raw material availability and delayed supplies are some of the challenges that packaging manufacturers are currently facing in the market due to COVID-19.

Industry Analysis

The global medical specialty bags market provides in-depth analysis of the market based on various industry factors such as porter’s five force analysis, supply chain analysis, regulatory analysis, pricing analysis, epidemiology, pipeline analysis, unmet needs.

Segment Analysis

The ostomy collection bags segment is expected to grow at the fastest CAGR during the forecast period (2022-2029) 

Based on product, the global medical specialty bags market is segmented into urinary collection bags, continuous ambulatory peritoneal dialysis (CAPD) bags, anesthesia breathing bags, blood bags, ostomy collection bags, enteral feeding bags, bile collection bags, sterile packaging bags, resuscitation bags, intravenous fluid bags, cadaver bags, enema bags, and ice bags. Among these, the ostomy collection bags is estimated to dominated the global medical specialty bags market during the forecast period. These are available in either single-use bags or multiple-use bags. The SenSura Mio Baby ostomy bag manufactured by Coloplast is characterized by its long wear time, which ensures that premature babies are not disturbed. The bag adhesive is designed for sensitive skin and easy reuse. It stays on the baby’s belly when the bag is changed. The SenSura Mio Kids ostomy bag is covered in a skin-friendly textile and discreet under clothing.

The Intravenous fluid bags are estimated to grow at the fastest growth rate over the forecast period, due to their various applications such as maintaining the correct electrolyte imbalance, sustaining and balancing the basal hydration level, and expanding IV volumes hypovolemic state in patients. Also, IV fluid bags are used in various healthcare processes along with the convenience and ease with to provide nutrition to any patient. However, the IV bags market is expected to experience a few challenges owing to the consequences of sterilizing IV bags. Also, with growing environmental impacts associated with the use of PVC, demand is anticipated to shift towards non-PVC material over the forecast period.

The IV bags market is predicted to reach an output of over 5,000 units by the end of 2027. However, a shortage of IV fluids in the U.S. healthcare system is likely to hamper the market for IV bags. Hence, pharmaceutical companies are adopting several strategies to strengthen their supply chains in the U.S. For instance, B. Braun has launched its Solutions for Life initiative by investing in IV therapy manufacturing facilities to ensure long-term supplies for the U.S. healthcare systems. Such initiatives are helpful for companies in the IV bags market.

Geographical Analysis

North America region holds the largest market share of the global medical specialty bags market

North America region is dominating the global Medical Specialty Bags market accounted for the largest market share in 2021, owing to rising incidences of chronic disorders and increasing surgical procedures which increases the demand for medical specialty bags. As per the National Association for Incontinence (NAFC), in North America, nearly 200 million people are affected by urinary incontinence. The United States and Canada are the key contributing regions for medical specialty bags in North America, owing to well-established healthcare infrastructure and favorable reimbursement policies in these countries.

Competitive Landscape

The medical specialty bags market is highly competitive and consists of several major players and the emergence of new players in the market. Some of the key players which are contributing to the growth of the market are B. Braun Melsungen AG, Baxter International Inc., Coloplast AS, ConvaTec Group Plc, Hollister Inc., Becton, Dickinson and Co., Cardinal Health Inc., Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Kawasumi Laboratories Inc, among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the medical specialty bags market globally. For instance, in May 2019, B. Braun Medical has announced that it is investing $1 billion into new and existing IV fluid manufacturing facilities to address the IV solution shortage exacerbated by Hurricane Maria's making landfall in Puerto Rico.

Global Medical Specialty Bags Market – Key Companies to Watch

B. Braun Melsungen AG

Overview: B. Braun is a German manufacturer of medical and pharmaceutical devices. The B. Braun product line includes 5,000 items, 95 percent of which are manufactured by the company. The company's product portfolio includes infusion, nutrition, and pain therapy products, as well as infusion pumps and systems, surgical instruments, suture materials, hip and knee implants, dialysis equipment and accessories, and ostomy, disinfection, and wound care products.

Product Portfolio: Flexima Uro Silk Flat Urostomy Bags- The Flexima Uro Silk convex urostomy bags are designed for people with flush or slightly retracted urostoma.

 The global medical specialty bags market report would provide an access to an approx. 40+ market data table, 45+ figures and 180 pages.

Trending Topics

Medical Cart Market 

Medical Aesthetic Market

Medical Imaging Information Systems

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest