The global medical specialty bags market, estimated at US$ 5.30 billion in 2021, is projected to surpass US$ 9.20 billion by 2030, at a revenue CAGR of 6.30%, according to the latest evaluation by Growth Plus Reports. The study examines the best impactful strategies, macroeconomic conditions, trends and prospects, competitive environments, changing market dynamics, market size, data and projections, and key investment areas.
- The increasing prevalence of urinary incontinence and the rising geriatric population will drive the demand for medical specialty bags during the forecast period.
- Increasing healthcare expenditure and public awareness will encourage market revenue growth.
- North America will dominate the global market.
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Medical Specialty Bags Market Scope
|Market size value in 2021||US$ 5.3 billion|
|Revenue forecast in 2030||US$ 9.2 billion|
|Growth Rate||CAGR of 6.3% from 2022 to 2030|
|Base year for estimation||2021|
|Segments covered||Product, End User, and Region.|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
The rising geriatric population and the increasing prevalence of predisposition for disorders like urinary incontinence are the key factors driving the revenue growth of the global medical specialty bags market. Additionally, increasing public awareness, competitive pricing, improving healthcare infrastructure, medical standards, facility improvements, and growing concern for health and cleanliness contribute to market revenue growth. Furthermore, increasing government support, research and development activities, better reimbursement plans, and technological advancements support the market’s revenue growth.
Growth Plus Reports has analyzed the global medical specialty bags market from three perspectives: Product, End-User, and Region.
Product Segmentation: Based on the product, the global medical specialty bags market is segmented into anesthesia breathing bags, urinary collection bags, blood bags, bile collection bags, sterile packaging bags, cadaver bags, ostomy bags, and intravenous fluid enteral feeding bags, and continuous ambulatory peritoneal dialysis bags. The ostomy bag segment dominates the market with the largest revenue share.
End-User Segmentation: Based on the end-user, the global medical specialty bags market is segmented into hospitals & clinics, homecare settings, blood banks, and surgicenters. The hospitals & clinics segment dominates the market because of the frequent use of medical specialty bags in hospitals and surgery.
Regional Growth Dynamics
Based on the region, the global medical specialty bags market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global medical specialty bags market with the largest revenue share. The considerable revenue share of North America in the global medical specialty bags market can be attributed to the growing number of surgical operations, the increasing prevalence of chronic diseases, advanced healthcare systems, and better reimbursement policies in this region.
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The following are the top companies in the global active wound care market:
- B. Braun Melsungen AG
- Baxter International Inc.
- Coloplast AS
- ConvaTec Group Plc
- Hollister Inc.
- Becton, Dickinson, and Co.
- Cardinal Health Inc.
- C.R. Bard, Inc.
- Fresenius Medical Care AG & Co. KGaA
- Terumo Corporation
- Hill Lifecare Limited
- Macropharma SA
- Kawasumi Laboratories Inc.
- Ostique Grifols
- AdaptHealth LLC.
The market for medical specialty bags is very competitive and complex. Prominent companies are developing new products and forming strategic alliances to fulfill the growing global demand and maintain a strong market position.
- Gufic Biosciences introduced a novel drug delivery system, dual-chamber bags made of polypropylene (DEHP free) with a peel-able aluminum foil that allows the storage of unstable pharmaceuticals that may be reconstituted shortly before patient administration, in June 2022.
- Vonco Products, a contract producer of medical devices and fluid bags, acquired Flex-Pak Packaging Products in January 2022. Flex-Pak offers sterile barrier DuPont Tyvek pouches and flexible barrier packaging for the healthcare industry.
- Macopharma collaborated with the South Texas Blood & Tissue Center and Calimex in January 2019 to create a paperless approach from electronic donor registration to blood donation. It is a Macopharma MacoMix HM20 automatic whole-blood mixer that actively monitors the donation process and determines each donor’s safe blood donation volume, depending on their height and weight.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Years – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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