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Medical Specialty Bags Market
A new age filled with technological advancements has been evident in the global healthcare segment for a while now. These technological developments are projected to facilitate the growth of the global medical specialty bags over the course of the given forecast period ranging from 2017 to 2025. Increasing demand for consumer-centric products and services, bettering patient awareness, and rising geriatric population are some of the other key factors that are projected to fuel the overall development of the global market in coming years.
There is a general tendency among the geriatric population to be vulnerable to disorders such as cardiovascular disorders and urinary tract infection among others. In addition to this preference by patients to these medical specialty bags, particularly from the geriatric population is also likely to help the development of the global market in the near future.
These specialty bags are typically used for different surgical processes including laparoscopic surgical processes and urinary surgical processes. The demand for such surgeries is increasing day by day because of their rising prevalence and thus are projected to help the development of the global market.
In terms of product, ostomy collection bags are particularly helpful because of the increasing surgeries and unavoidable physical disorders and is thus projected to help the development of the global market in the near future. The consumers are preferring these bags because of their uniform built, favorable compensation policies, easy availability of raw products, and overall cost-effectiveness. These qualities make medical specialty bags a highly affordable, flexible, and lucrative option for patients.
The outbreak of COVID-19 has impacted the market in recent months. However, the market is slowly recovering with the gradual opening of the world economy. The global market is expected to witness a sluggish growth in first few months, however is expected to witness to get back to normalcy by the second half of 2021.
In a fairly consolidated global medical specialty bags market, product innovation and advancement are the key to stay competitive in this market. In addition, savvy players are shifting focus from mature markets in the West to emerging economies to tap growth opportunities. This is because modernization of healthcare infrastructure and adoption of safe healthcare practices in emerging economies is upping the demand for present-time medical equipment such as medical specialty bags.
Apart from this, the increasing incidence of chronic diseases and a growing geriatric population worldwide that is prone to urinary incontinence in leading to a surging demand for medical specialty bags. The increasing incidence of post-surgery complications and rising adoption of safe healthcare practices in emerging economies to prevent disease transmission is also having a positive bearing on the market’s growth.
A report by Transparency Market Research projects the global medical specialty bags market to expand at a CAGR of 5.5% between 2017 and 2025, for the market to reach a valuation of US$9,833.9 mn by the end of 2025 from US$6,323.1 mn in 2016.
The report studies the global medical specialty bags market based on product type and geography. The segments of the medical specialty bags market depending upon product type are anesthesia breathing bags, ostomy bags, blood bags, enema bags, IV bags, bile collection bags, resuscitation bags, CAPD bags, urinary collection bags, enteral feeding bags, and others. Of them, ostomy bags holds dominance and the segment is expected to stay ahead vis-à-vis market share over the 2017-2025 period. This is mainly because of rising incidence of inflammatory bowel diseases wherein ostomy bags provide the necessary assistance to cure the condition. The prevalence of other diseases such as ulcerative colitis and Crohn’s disease also account for considerable demand for ostomy bags.
In 2016, the IV bag segment held the second-leading share of more than 23% in terms of value in the global medical specialty bags market. The growth of this segment is due to rising number of dehydration cases and an increasingly large number of medicines that require intravenous administration.
The report examines the global medical specialty bags market across the geographical segments of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America led amongst all regional segments in 2016, and the region is expected to hold on to its lead position between 2017 and 2025. The North America medical specialty bags is expected to expand at a CAGR of 4.7% between 2017 and 2025. A well-established healthcare infrastructure and favorable reimbursement policies are the leading factors contributing to the growth of this regional market.
Europe is expected to account for second-leading share in the overall market over the forecast period. The region is expected to expand at a CAGR of 4.9% between 2017 and 2025. New product launches, increasing number of surgical procedures such as laparoscopic cholecystectomy along with rising healthcare expenditures are largely driving the Europe medical specialty bags market. Germany is a key domestic market in the region mainly due to a high budget for expansion of healthcare and developmental pursuits to attain the same.
Nevertheless, Asia Pacific is emerging as a significant regional market. Powered by Japan, the region is expected to display the leading CAGR of 6.0% between 2017 and 2025.
Prominent participants in the global medical specialty bas market profiled in this report are Coloplast A/S, Baxter International Inc., Hollister Incorporated, Terumo Corporation, Smiths Medica, ConvaTec Inc., B.Braun Melsungen AG, Medline Industries Inc., Nolato AB, and Macopharma.
Global Medical Speciality Bags Market to Expand with Advancements in Nephrology
The demand within the global medical specialty bags market is rising alongside advancements in healthcare practices. The presence of a seamless industry for managing offbeat healthcare practices has enabled the inflow of fresh revenues into the global speciality bags market. It is important for the medical industry to ensure safety in healthcare practices, while also fostering need management within healthcare. The use of medical specialty bags has emerged as a resilient contributor to the safety status of healthcare entities. This has also given an impetus to the growth of the global medical specialty bags market in recent years.
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Section 1. Preface
1.1 Report Scope and Market Segmentation
1.2 Research Highlights
Section-2. Assumptions and Research Methodology
2.1 Assumptions and Acronyms Used
2.2 Research Methodology
Section-3. Executive Summary
3.1 Global Medical Specialty Bags Market: Market Snapshot
3.2 Global Medical Specialty Bags Market: Opportunity Map
Section-4. Market Overview
4.1 Global Medical Specialty Bags Market: Product Overview
4.2 Global Medical Specialty Bags Market: Key Industry Developments
Section-5. Market Dynamics
5.1 Drivers and Restraints Snapshot Analysis
5.1.2. Drivers
5.1.3. Restraints
5.1.4. Opportunity
5.2 Opportunity Analysis
5.3 Key Trends
5.4 Global Medical Specialty Bags Market Revenue Forecast
5.5 Porter’s Five Forces Analysis
5.6 Major Companies operating in Global Medical Specialty Bags Market & their product analysis
5.7 Global Medical Specialty Bags Market Outlook
Section-6. Global Medical Specialty Bags Market Analysis, by Product
6.1 Key Findings
6.2 Introduction
6.3 Global Medical Specialty Bags Market Value Share Analysis, by Product Type
6.4 Market Value (US$ Mn) Forecast By Product Type
6.4.1. Anesthesia Breathing Bags
6.4.2. Bile Collection Bags
6.4.3. Ostomy Collection Bags
6.4.4. Resuscitation Bags
6.4.5. Blood Bags
6.4.6. CAPD Bags
6.4.7. Enema Bags
6.4.8. Enteral Feeding Bags
6.4.9. Intravenous Fluid/Infusion bags
6.4.10. Urine Collection Bags
6.4.11. Others
6.5 Global Medical Specialty Bags Market Attractiveness Analysis, By Product Type
Section-7 Global Medical Specialty Bags Market Analysis, by Region
7.1 Geographical Scenario
7.2 Introduction
7.3 Medical Specialty Bags Value Share Analysis, by Region, 2017 and 2025
7.4 Medical Specialty Bags Forecast, by Region
7.4.1. North America
7.4.2. Europe
7.4.3. Asia Pacific
7.4.4. Latin America
7.4.1. Middle East & Africa
7.5. Medical Specialty Bags Market Attractiveness Analysis, By Region, 2017 and 2025
Section-8 North America Medical Specialty Bags Market Analysis and Forecast
8.1 Key Findings
8.2 Market Value (US$ Mn) Forecast, By Country
8.2.1. U.S.
8.2.2. Canada
8.3 Market Value (US$ Mn) Forecast By Product Type
8.4 Market Attractiveness Analysis
8.4.1. By Country
8.4.2. By Product
Section-9 Europe Medical Specialty Bags Market Analysis and Forecast
9.1 Key Findings
9.2 Market Value (US$ Mn) Forecast, By Country
9.2.1. Germany
9.2.2. France
9.2.3. U.K.
9.2.4. Spain
9.2.5. Italy
9.2.6. Rest of Europe
9.3 Market Value (US$ Mn) Forecast By Product Type
9.4 Market Attractiveness Analysis
9.4.1. By Country
9.4.2. By Product
Sectin-10 Asia Pacific Medical Specialty Bags Market Analysis and Forecast
10.1 Key Findings
10.2 Market Value (US$ Mn) Forecast, By Country
10.2.1. China
10.2.2. Japan
10.2.3. India
10.2.4. Australia
10.2.4. Rest of APAC
10.3 Market Value (US$ Mn) Forecast By Product Type
10.4 Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Product
Section-11 Latin America Medical Specialty Bags Market Analysis and Forecast
11.1 Key Findings
11.2 Market Value (US$ Mn) Forecast, By Country
11.2.1. Brazil
11.2.2. Mexico
11.2.3. Rest of LATAM
11.3 Market Value (US$ Mn) Forecast By Product Type
11.4 Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Product
Section-12 Middle East & Africa Medical Specialty Bags Market Analysis and Forecast
12.1 Key Findings
12.2 Market Value (US$ Mn) Forecast, By Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. Rest of MEA
12.3 Market Value (US$ Mn) Forecast By Product Type
12.4 Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Product
Section-13 Competition Landscape
13.1 Global Medical Specialty Bags Market Share Analysis, by Company (2016)
13.2 Competition Matrix
13.3 Company profiles
13.3.1. Coloplast A/S
13.3.1.1 Company Details
13.3.1.2 Business Overview
13.3.1.3 Financial Overview
13.3.1.4 Strategic Overview
13.3.1.5 SWOT Analysis
13.3.2. ConvaTec, Inc.
13.3.2.1 Company Details
13.3.2.2 Business Overview
13.3.2.3 Financial Overview
13.3.2.4 Strategic Overview
13.3.2.5 SWOT Analysis
13.3.3. Hollister Incorporated
13.3.3.1 Company Details
13.3.3.2 Business Overview
13.3.3.3 Financial Overview
13.3.3.4 Strategic Overview
13.3.3.5 SWOT Analysis
13.3.4. B. Braun Melsungen AG
13.3.4.1 Company Details
13.3.4.2 Business Overview
13.3.4.3 Financial Overview
13.3.4.4 Strategic Overview
13.3.4.5 SWOT Analysis
13.3.5. Baxter International, Inc.
13.3.5.1 Company Details
13.3.5.2 Business Overview
13.3.5.3 Financial Overview
13.3.5.4 Strategic Overview
13.3.5.5 SWOT Analysis
13.3.6. Fresenius SE & Co. KGaA
13.3.6.1 Company Details
13.3.6.2 Business Overview
13.3.6.3 Financial Overview
13.3.6.4 Strategic Overview
13.3.6.5 SWOT Analysis
13.3.7. Medline Industries, Inc.
13.3.7.1 Company Details
13.3.7.2 Business Overview
13.3.7.3 Financial Overview
13.3.7.4 Strategic Overview
13.3.7.5 SWOT Analysis
13.3.8. Terumo Corporation
13.3.8.1 Company Details
13.3.8.2 Business Overview
13.3.8.3 Financial Overview
13.3.8.4 Strategic Overview
13.3.8.5 SWOT Analysis
13.3.9. Nolato AB
13.3.9.1 Company Details
13.3.9.2 Business Overview
13.3.9.3 Financial Overview
13.3.9.4 Strategic Overview
13.3.9.5 SWOT Analysis
13.3.10. Smiths Medical
13.3.10.1 Company Details
13.3.10.2 Business Overview
13.3.10.3 Financial Overview
13.3.10.4 Strategic Overview
13.3.10.5 SWOT Analysis
13.3.11. Macopharma SA
13.3.11.1 Company Details
13.3.11.2 Business Overview
13.3.11.3 Financial Overview
13.3.11.4 Strategic Overview
13.3.11.5 SWOT Analysis
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*86 figures and 60 tables includes