Market Overview
Urine drainage bags are urine collection bags that fall under urinary incontinence (U.I.) goods. People with urine incontinence, patients with restricted mobility, and bedridden patients utilize these bags. Urine drainage bags are linked to the catheter ends to collect urine as it travels through the bladder. Urinary Drainage Bags come in two sizes: small leg bags and giant night bags. These are widely used in surgery centers, hospitals, and clinics and come in two varieties: disposable and reusable. In comparison to reusable bags, disposable bags are in high demand due to the increased risk of infection associated with reusable urine drainage bags.
The significant rise in the incidence of disabilities resulting in reduced mobility, as well as the increasing prevalence of urinary incontinence globally, are some of the primary factors expected to drive market growth over the forecast period. Limited mobility in bedridden patients is connected with urinary incontinence, which can have a severe influence on the patient’s quality of life and place a significant burden on the patient’s family and carers. Additionally, growing healthcare expenditures, as well as the existence of several key players offering a diverse variety of urinary drainage bags with varying volume capacities, are expected to drive urine collection bags business growth during the forecast period.
Key Trends
- One major trend Credence Research Inc. is expected to see in the Urinary Drainage Bags market is the rising geriatric population. One of the primary reasons for the increased need for urinary drainage bags is the growing geriatric population, which is prone to urinary infections.
- Another trend that Credence Research Inc. predicts will continue in the Urinary Drainage Bags market is increasing healthcare expenditure. Rising healthcare costs are a serious problem, and both commercial companies and governments are continuously working to reduce them. Healthcare spending is predicted to climb during the forecast period due to an increase in the baby boomer generation and an increase in disease prevalence.
Economic Impact Analysis
Many businesses began to suffer as the economy was impacted by the recession, inflation, current covid-19 in China, and Russia’s invasion of Ukraine. The Urinary Drainage Bags market research, 2022-2028, covers the projected impacts of the economic downturn, which resulted in an increase in the energy crisis and a variation in the cost of various raw materials.
- Recession
The global Urinary Drainage Bags market would be impacted by the recession, according to a market analysis by Credence Research Inc. This recession may reduce consumer expenditure on healthcare products and result in a decrease in non-emergency care products, as happened in 2020 during the COVID-19 pandemic. Customers stop ordering as regularly. During an economic downturn, a decrease in aggregate demand results in fewer sales for the majority of businesses. When sales fall, businesses with high fixed expenditures suffer a disproportionate financial hit. Inflated inventories may cause manufacturers to cut output until demand improves.
- Ukraine-Russia War Impact
Due to the Ukraine-Russia war, globally, negative consequences are expected, particularly in Eastern Europe, the European Union, Eastern and Central Asia, and the United States. This dispute has had a significant impact on people’s lives and livelihoods, as well as causing significant disruptions in trade patterns. The probable consequences of the prolonged war and uncertainty in Eastern Europe are projected to harm Ukraine and have long-term consequences for Russia. This war had an impact on demand-supply balances, pricing varieties, import/export, and trading to the Global Urinary Drainage Bags Market.
- China COVID Outburst December 2022
The current COVID situation in China will have a significant influence on the market for urinary drainage bags in 2023. The elderly and patients with various comorbidities are at a higher risk of getting COVID due to a lack of immunity. The product is predicted to be in high demand in hospital settings to provide appropriate patient care.
Regional Analysis
North America will hold a significant urinary drainage bags market share in 2022, owing to a rise in occurrences of urological illnesses and the presence of prominent players in this region. According to the Urology Care Foundation, by 2021, nearly 33 million Americans will have overactive bladder illnesses, and 13 million will have urinary incontinence. Due to this, the demand for Urinary Drainage Bags is expected to increase.
STAR Analysis
- Situation
Owing to the recent Covid outburst in December 2022, the client wants to understand the market size of the Urinary Drainage Bags market in the Asia-Pacific region, which contains the most populated countries.
- Task
The client has requested to know the market size of the Asia-Pacific Urinary Drainage Bags market as well as market size by its numerous categories, such as the type of Urinary Drainage Bags and its most popular application areas. The client also asks for a detailed analysis of the world’s most populated countries, China and India.
- Action
The client contacted Credence Research Inc., which helped the client enter the Asia-Pacific region in the Urinary Drainage Bags market. Credence Research Inc. issued research titled “Global Urinary Drainage Bags Market, 2022-2028” in 2023 that did a complete analysis of the various types of Urinary Drainage Bags and the end-use sectors where they are most frequently utilized. The report also gave the client a thorough analysis of the most populated countries in Asia-Pacific region.
- Result
The client was able to enter the Urinary Drainage Bags market in the Asia-Pacific region with the help of Credence Research Inc.’s in-depth analytical report. Additionally, a detailed analysis of segmentation, regional, and country-level analysis assisted the client in selecting the right products and geographical areas, aiding the client in smoothly entering the market.
