Portland, OR, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global urinary drainage bags market generated $1.4 billion in 2021, and is expected to generate $2.0 billion by 2031, manifesting a CAGR of 3.8% from 2021 to 2031. The report offers an extensive analysis of drivers and opportunities, key segments, value chain, regional scenario, and competitive landscape. This report provides an extensive analysis for market players, investors, stakeholders, and startups to help them take the next steps for gaining competitive edge and achieving the lead position.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 billion |
| Market Size in 2031 | $2.0 billion |
| CAGR | 3.8% |
| No. of Pages in Report | 181 |
| Segments covered | Product, Usage, End User, and Region. |
| Drivers | Increase in prevalence of urological disorders, such as urinary incontinence, kidney stones, benign prostatic hyperplasia, and cystitis |
| Investments by market key players to develop advanced products | |
| Opportunities | Increase in number of urological surgeries |
| Rise in geriatric population | |
| Restrains | Rise in concerns regarding catheter-associated urinary tract infections |
Covid-19 Scenario:
- The demand for urinary drainage bags increased considerably during the Covid-19 pandemic as the number of patients in hospitals surged for treatment of the infection.
- As many Covid-infected patients needed to stay on oxygen beds due to oxygen mask attachments, the utilization of urinary drainage bags increased considerably.
- However, many urological surgeries were either postponed or canceled as only urgent surgeries were carried out in hospitals. This, in turn, reduced the demand for urinary drainage bags for surgeries.
The research provides detailed segmentation of the global urinary drainage bags market based on product, usage, end user, and region. The research discusses these segments along with sub-segments to determine the highest revenue-generating and fastest-growing segments for startups, leading players, and investors. Market size and forecasts for each segment and its sub-segments are provided in the report to determine the strategies that can be adopted for achieving the growth.
Based on product, the leg bags segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. In addition, this segment is expected to manifest the highest CAGR of 4.5% from 2022 to 2031. The report analyzes the large bags segment.
Based on usage, the disposable segment accounted for the highest share in 2021, contributing to nearly four-fifths of the global urinary drainage bags market, and is projected to maintain its lead in terms of revenue during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 4.0% from 2022 to 2031. The report also analyzes the reusable segment.
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Based on end user, the hospitals and clinics segment contributed to the highest share in 2021, holding more than half of the market, and is expected to dominate in terms of revenue by 2031. The research also analyzes the others segment.
Based on region, North America accounted for the highest share in 2021, holding more than two-fifths of the global urinary drainage bags market, and is expected to maintain its dominance by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global urinary drainage bags market analyzed in the research include Amsino International, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Coloplast A/S, Cardinal Health Inc., Flexicare Ltd., Convatec Group Plc., MC Kesson Corporation, Manfred Sauer GmBH, and Teleflex Inc.
The report analyzes leading players and outlines various strategies such as partnerships, new product launches, collaborations, expansion, and others adopted by them to raise their market share and consolidate their positions in the market. The report offers a detailed analysis of these players in terms of business performance, operating segments, product portfolio, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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