Medical Speciality Bags Market Report: Trends, Analysis, and Growth Forecast 2030
The global medical speciality bags market is poised for substantial growth in the coming years, driven by an increasing demand for various medical procedures and the essential supportive tools, accessories, and infrastructure they require. Medical speciality bags, which find applications in blood collection, urine storage, bile collection, sterile packaging, enteral feeding, and more, are experiencing healthy growth prospects. Hospitals, in particular, stand out as the leading consumer segment, motivated by the need to minimize the risk of hospital-acquired infections and the surge in surgical procedures, including laparoscopic and urinary surgeries.
Hospitals Leading the Way
Hospitals remain at the forefront of medical speciality bags consumption due to their constant need for these essential tools. The demand from hospitals is driven by a commitment to reducing infection risks and ensuring a safe healthcare environment. They are also the primary source of biohazard waste, further bolstering the demand for biohazard bags. Home healthcare centers and ambulatory surgical centers are also emerging as lucrative segments, offering ample revenue-generating opportunities for manufacturers.
Urinary Collection Bags and CAPD Bags on the Rise
The global market for medical speciality bags is set to benefit from the aging population, which is more prone to urinary and fecal incontinence. Additionally, the increasing prevalence of chronic kidney disease (CKD) and other health conditions like inflammatory bowel disease (IBD), diverticulitis, and various cancers are driving demand for urinary collection bags and continuous ambulatory peritoneal dialysis (CAPD) bags.
Ostomy Collection Bags and IV Bags in High Demand
Among the various types of medical speciality bags, ostomy collection bags are witnessing strong sales, driven primarily by elderly patients dealing with incontinence, diverticulitis, cancers, and IBD. The market is also experiencing a notable shift from polyvinyl chloride (PVC) to non-PVC materials in the production of ostomy collection bags. IV bags, known for their ease of use and convenience, continue to be a key product category, ensuring their sustained demand.
North America maintains its lead in the global medical speciality bags market, supported by a significant number of people suffering from urinary incontinence. Europe remains a key market as well. In contrast, fast-developing economies like China, India, Brazil, and Mexico are witnessing the rapid expansion of healthcare infrastructure, leading to increased demand for medical speciality bags. Asia Pacific, in particular, is experiencing robust sales of urinary collection bags, and the Australian market is expected to exhibit high growth potential.
COVID-19 Pandemic Boosts Demand
The COVID-19 pandemic has underscored the critical role of medical speciality bags in maintaining aseptic conditions in healthcare facilities. With rising cases, there has been a surge in the consumption of medical disposables, sterilants, and disinfectants, further propelling market growth. Additionally, the need for intravenous (IV) immunoglobulin and low-molecular-weight heparin (LMWH) anticoagulant therapy has created revenue generation opportunities for IV bags manufacturers.
Key Companies and Investments
Major companies in the medical speciality bags market, including Coloplast A/S, Terumo Corporation, Hollister Incorporated, and C.R. Bard Inc., are focusing on organic growth strategies, collaborations, acquisitions, and investments in therapeutic research. New players are expected to enter the market during the forecast period.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/medical-speciality-bags-market
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