Global Medical Specialty Bags Market: Snapshot
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.
Tremendous Benefits for Treatment of Bowel Diseases Make Ostomy Bags Dominant
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.
Favorable Reimbursement Plans for Dialysis in Japan to Push Growth in Asia Pacific
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 Specialty Bags Market: Overview
Medical specialty bags find applications among patients suffering from various disorders and have undergone genital or prostrate surgery or suffering from disorders such as multiple sclerosis, neurological disorders such as Parkinson’s disease and dementia, blood transfusion, ostomy care, dialysis, intravenous drug delivery, and etc. Medical Specialty Bags have been primarily classified into product type segments: Anesthesia Breathing Bags, Bile Collection Bags, Ostomy Bags, Resuscitation Bags, Blood Bags, CAPD Bags, Enema Bags, Enteral Feeding Bags, IV Bags, Urinary Collection Bags, and Others. Rising prevalence of urinary incontinence, growing prevalence of chronic diseases, increasing blood transfusion, and technological advancements along with aging population, demand for minimally invasive procedures and various other factors would contribute to the growth of the market. The report consists of an executive summary which provides information about the products, its segments along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2016.
Global Medical Specialty Bags Market: Market Dynamics
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the medical specialty bags market, along with porter’s analysis, value chain analysis, of the global market, has been provided in this report. Market revenue analysis for all the above mentioned segments has been provided for the forecast period of 2017-2025, considering 2016 as the base year, and 2015 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2017-2025. Market share estimations were based on in-depth analysis and study of products, and their features etc.
This report provides in-depth analysis of the medical specialty bags market. The stakeholders for this report include companies involved in the manufacturing of medical specialty bags. Executive summary section is included snapshot on stakeholders in this report, which summarizes the market size, trends and competition in different regions. Market players and Market share analysis is analyzed to signify percentage share of the major players operating in the Medical Specialty Bags market. Furthermore, the report includes market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2016.
The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of key opinion leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
Global Medical Specialty Bags Market: Market Segmentation
Based on product type, the Medical Specialty Bags market has been segmented into Anesthesia Breathing Bags, Bile Collection Bags, Ostomy Bags, Resuscitation Bags, Blood Bags, CAPD Bags, Enema Bags, Enteral Feeding Bags, IV Bags, Urinary Collection Bags, and Others. Blood bags is growing at a CAGR of 7.1% from 2017 to 2025 due to increasing blood donation and other application. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, and Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, and Rest of Middle East & Africa.
Global Medical Specialty Bags Market: Competitive Landscape
The report also comprises list of major players in the market, their SWOT analysis, market share of these players in the medical specialty bags market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Coloplast A/S, ConvaTec Inc., Baxter International, Inc., B. Braun Melsungen AG, Hollister Incorporated, Medline Industries, Inc., Terumo Corporation, Nolato AB, Smiths Medical, and Macopharma.
Global Medical Specialty Bags Market has been segmented as follows:
Medical Specialty Bags Market, by Product Type
- Anesthesia Breathing Bags
- Bile Collection Bags
- Ostomy Bags
- Resuscitation Bags
- Blood Bags
- CAPD Bags
- Enema Bags
- Enteral Feeding Bags
- IV Bags
- Urinary Collection Bags
Medical Specialty Bags Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa