Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Medical Specialty Bags Market Size, Share & Trends Analysis Report By Product (Anaesthesia, Sterile Packaging, Resuscitation Bags, Bile Collection, Intravenous, Blood, Enteral Feeding), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global medical specialty bags market is poised for significant growth, with an anticipated value of USD 9.38 billion by 2030, according to an insightful report. The market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2030. The increasing aging population and the prevalence of conditions like urinary incontinence are expected to be key drivers for this growth over the next seven years.
Government Initiatives and Growing Health Awareness
Government policies and initiatives aimed at enhancing cost-effectiveness and customer appeal are anticipated to drive demand during the forecast period. Improved reimbursement policies are also expected to contribute to the growth of the medical specialty bag market. Additionally, factors such as rising disposable income, increased health awareness, unmet medical needs, and the availability of affordable medical specialty bags in emerging economies like Brazil, China, and India are projected to drive industry growth. However, high excise tax rates on healthcare devices in the U.S. and Canada could pose a challenge to the medical specialty bags market.
Diverse Product Segments
The medical specialty bag market encompasses various product categories, including urinary collection bags, anesthesia breathing bags, sterile packaging bags, blood bags, bile collection bags, cadaver bags, ostomy bags, enteral feeding bags, intravenous fluid bags, and continuous ambulatory peritoneal dialysis bags (CAPD).
Key Market Highlights
- Ostomy collection bags led the product segment in 2013 and are expected to grow at a CAGR of 4.3% from 2014 to 2020, reaching USD 2.94 billion. Bile collection bags are projected to grow rapidly, with a CAGR of 6.5% from 2014 to 2020, driven by the increasing need for minimally invasive laparoscopic cholecystectomy procedures.
- The market for intravenous (IV) fluid bags is estimated to reach USD 2,469.9 million by 2020, displaying a CAGR of 5.2% from 2014 to 2020. The medical specialty bags market encompasses various segments, including home healthcare and SurgiCenters, with smaller non-hospital players expected to drive growth due to increasing demand and customer awareness.
- In 2013, North America held the largest market share due to its sophisticated healthcare infrastructure, high patient awareness levels, and comprehensive reimbursement framework. These factors contribute to elevated usage rates and procedure volumes in the region.
- The Asia Pacific medical specialty bags market is projected to exhibit the highest CAGR of over 6.0% from 2014 to 2020. Improved medical knowledge, enhancing healthcare infrastructure, and increasing expenditures are among the factors driving its rapid growth.
Companies in Focus
Prominent players in the market include Hollister Incorporated, B Braun Medical, Terumo Corporation, Coloplast A/S, Pall Corporation, C.R. Bard Inc., Kawasumi Laboratories Inc., Fresenius Medical Care AG & Co., Baxter International Inc., Convatec Inc., Macopharma, and Westfield Medical Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6.4 billion |
| Forecasted Market Value (USD) by 2030 | $9.38 billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Medical Specialty Bags Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint analysis
3.5. Medical Specialty Bags Market Analysis Tools
Chapter 4. Medical Specialty Bags: Product Estimates & Trend Analysis
Chapter 5. Medical Specialty Bags Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/jyykcq
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