Report Overview
The market for medical speciality bags was predicted to be worth USD 10.44 billion in 2022 and is anticipated to rise to USD million by 2030, with a CAGR of 4.9% over the forecast period (2023-2030).
An in-depth analysis of the market for medical speciality bags that includes both quantitative and qualitative data is provided. Based on market segmentation by product, end user, and region, it provides a perspective and prediction for the global market. Additionally, it offers the size and growth of the global market for medical specialty bags as well as the most recent trends, business opportunities, and forecast through 2029 for the market as it relates to important nations like the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European nations, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and the rest of the world.
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Market Dynamics
The rise in surgical operations, such as ostomy treatments, is one reason driving the global market for medical speciality bags. The rising prevalence of a number of diseases, including colorectal cancer, diverticulitis, and inflammatory bowel disease (IBD), is one of the major drivers boosting the market's expansion.
During the projected period, rising surgical procedures are anticipated to fuel the global market for medical speciality bags.
Medical speciality bags are increasingly being utilised for the transfer of blood and blood components, renal dialysis, and collection, processing, and storage since surgical operations result in significant blood loss and the need for blood transfusions. Therefore, during the course of the projected period, market growth is anticipated to be stimulated by the rising number of surgical procedures, dialysis treatments, and blood transfusion procedures.
One of the main causes of the rise in urinary incontinence cases, which is predicted to raise demand for urine collecting bags, is the ageing population. Since older people are more likely to experience urine incontinence, there is a growing need for medical speciality bags. According to the Centres for Disease Control and Prevention (CDC), adults aged 65 or older (38%) have chronic kidney disease (CKD) more frequently than those aged 45–64 (13%) or 18–44 (7%). The ongoing and growing age demographic shift among the populations of several nations is posing problems. The number of people in the world who are 60 years old will double, and the number of people who are 80 years old will treble, according to the Department of Economic and Social Affairs Population Division of the United Nations, in 2017.
The market for medical speciality bags is anticipated to expand significantly over the course of the projected period as a result of enhanced medical facilities and an increase in technological developments in the healthcare industry. The market for medical speciality bags is expanding due to rising cleanliness and health awareness. Additionally, expanding support from government agencies helps the market grow since they enable investments in the healthcare infrastructure, favourable reimbursement rules, and promoting R&D activities.
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Medical Specialty Bags Market Companies
Key players are B. Braun Melsungen AG, Baxter International Inc., Coloplast AS, ConvaTec Group Plc, Hollister Inc., Becton, Dickinson and Co., Cardinal Health Inc., Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Kawasumi Laboratories Inc, among others.
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