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Medical Specialty Bags Market Product Type (Bile Collection Bags, Ostomy Bags, Resuscitation Bags, Blood Bags, CAPD Bags, Enema Bags, Enternal Feeding Bags, Intravenous Fluid/Infusion Bags, Urine Collection Bags) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Industry Outlook

The medical specialty bags market is projected to reach US$ 10,541.0 million in 2026 and exhibit a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2018 to 2026. The increasing geriatric population susceptible to chronic diseases is the major growth factor driving the demand for specialty medical bags globally. The geriatric population is more susceptible to procedures that require ostomy bags, IV bags, bile collection bags, urinary collection bags, and others. Moreover, growing hospitalization and surgical procedures across the globe are further boosting the growth of medical specialty bags. Product innovation and the use of environmentally friendly materials are the latest trends observed in the medical specialty bag market. Polyvinyl chloride (PVC) bags are being replaced by non-PVC materials such as latex, silicone, polyurethanes, and polyethylene, as these have minimal environmental hazards.

Moreover, manufacturers are focusing on the use of cost-effective materials such as ethylene vinyl acetate, multilayer polyethylene, or polypropylene to make PVC-free bags. Another significant trend observed in the medical specialty bag market is the rise in online sales of medical specialty bags. This increases the availability and accessibility of these products to customers, thereby increasing their purchases. North America held the largest share of the global medical specialty bags market owing to the growing geriatric population and surgical procedures that led to the greater demand for medical bags in the region. Asia Pacific will show the highest growth rate during the forecast period, with Japan, China, and India setting the stage for swift growth in the region. The global medical specialty bags market is highly consolidated, with players seeking innovation and product enhancement to ensure dominance in the market.

Market Synopsis

Increasing Number of Ostomy Procedures Performed to Drive the Market Growth of Ostomy Bags

In 2017, ostomy bags dominated the global medical specialty bags market by product type, owing to the rising prevalence of gastric diseases such as ulcerative colitis, Crohn's disease, peritonitis, bowel cancer resulting in obstruction or bleeding, spina bifida, and urolithiasis. This is also leading to an increase in the volume of procedures among diseased patients, which is boosting the growth in demand for ostomy bags. Increased awareness programs and promotion for these products, supported by leading vendors in the market, have also led to a rise in their adoption rate among patients at home and by staff at healthcare facilities. IV bags and blood collection bags also held a significant share of the global medical specialty bags market. Growing hospitalization requiring intravenous administration of drugs and parental nutrition have surged the demand for IV bags. Growing cases of blood transfusion during trauma conditions and chronic diseases have led to the growth of the blood bag market. However, the lack of adequate reimbursement for medical specialty bags has limited their adoption among the population. This has led to the use of products beyond their average lifespan, reducing demand for new products.

Increasing the Geriatric Population Susceptible to Chronic Diseases in North America to Drive the Market

In 2017, North America held the largest share of the global market for medical specialty bags. The key factors responsible for the growth of this region include the growing incidence of chronic conditions such as ulcerative colitis and Crohn's disease, which lead to the requirement of ostomy bags. Nearly 100,000 people in the U.S. undergo ostomy procedures annually. The implementation of healthcare reforms in the U.S. has also helped new users of ostomy products purchase ostomy drainage bags at reasonable prices. Asia Pacific is projected to grow at the highest rate during the forecast period due to its rapid growth because of increasing economic affluence and the availability of better healthcare services across the region. The emerging countries in the APAC region, such as China and India, offer a big opportunity for the leading players in this market, as these countries contain a significantly large pool of underserved patients.

Historical and Forecast Period

This research report presents the analysis of each segment from 2016 to 2026,considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The Medical Specialty Bags Market Report furnishes quantitative analysis along with the latest market trends. The market is segmented based on product type and geography.

The market is studied in order to understand the current and future market trends in the medical specialty bag market. The market is estimated by providing the compounded annual growth rate (CAGR) and a data forecast from 2018 to 2026. The strategic acquisition, merger, and collaboration among the key players for developing an innovative product pipeline are mentioned in the business strategy section. The key players currently engaged in the medical specialty bags market are B. Braun Melsungen, Baxter International, Coloplast A/S, ConvaTec, Inc., Hollister Incorporated, Fresenius Kabi, and Terumo Corporation, among others.

Key questions are answered in this report.

  • How will the global market for medical specialty bags perform during the forecast period from 2018 to 2026?
  • What are the latest trends in the medical specialty bag market and valuable opportunities for key players?
  • Who are the leading players in the global medical specialty bag market?
  • Which is the leading and fastest-growing region in the global medical specialty bag market?
  • Currently, what are the reimbursement scenarios and regulatory structure for medical specialty bags?
  • What are the drivers and restraints governing the global market for medical specialty bags?

Frequently Asked Questions:

The market for Medical Specialty Bags Market is expected to reach US$ 10,541.0 Mn in 2026.

The Medical Specialty Bags Market is expected to see significant CAGR growth over the coming years,at 5.4%.

The report is forecasted from 2018 – 2026.

The base year of this report is 2017.

B. Braun Melsungen, Baxter International, Coloplast A/S, ConvaTec, Inc., Hollister Incorporated, Fresenius Kabi, and Terumo Corporation, are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Aug 2018
Category:  Medical Devices
Report ID:   59257
Report Format:   PDF
Pages:   120
Rating:    4.5 (60)
Delivery Time: 24 Hours to 48 Hours   
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