Medical specialty bags market

Medical Specialty Bags Market, By Product (Ostomy Collection Bags, Intravenous (IV) Fluid bags, Continuous Ambulatory Peritoneal Dialysis (CAPD) Bags, Resuscitation Bags, Urinary Collection Bags, Sterile Packaging Bags, Anesthesia Breathing Bags, Cadaver (Body) Bags, Blood Bags, Enema Bags, Enteral Feeding Bags, Bile Collection Bags, Ice Bags), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

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Sep 2020
CMI509
175 Pages
Excel & Pdf
Medical Devices

Summary

Medical specialty bags are specially designed bag for use in various medical areas such as in the collection and storage of blood samples, urine collection, enteral feeding and sterile packaging. These bags are most probably used in hospitals for the maintenance of sterilized condition of blood sample which helps in control of disease spreading and in leakage of medicines or blood samples.

Statistics:

The global medical specialty bags market is estimated to account for US$ 12,085.5 Mn in terms of value by the end of 2027.

Global Medical Specialty Bags Market: Drivers

High prevalence of high blood pressure is expected to propel growth of the global medical specialty bags market over the forecast period. For instance, according to a cross-sectional, population-based study, ‘Diabetes and Hypertension in India: A Nationally Representative Study of 1.3 Million Adults’, published in JAMA Internal Medicine in March 2018, the crude prevalence of hypertension in India was 25.3% between 2012 and 2014.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Statistics:

North America held dominant position in the global medical specialty bags market in 2019, accounting for 38.3% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Medical Specialty Bags Market Share (%) Value, By Region, 2019

Global Medical Specialty Bags Market: Restraints

Issues with bedside scans of certain large-volume parenteral infusion bags for product identification purposes is expected to hinder growth of the global medical specialty bags market.

Moreover, sale of counterfeit medical specialty bags is also expected to limit the market growth.

Medical Specialty Bags Market Report Coverage

Report Coverage	Details
Base Year:	2019	Market Size in 2019:	US$ 8,683.7 Mn
Historical Data for:	2016 to 2019	Forecast Period:	2020 to 2027
Forecast Period 2020 to 2027 CAGR:	4.2%	2027 Value Projection:	US$ 12,085.5 Mn
Geographies covered:	North America: U.S., Canada Latin America: Brazil, Argentina, Mexico, Rest of Latin America Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific Middle East: GCC Countries, Israel, Rest of Middle East Africa: North Africa, Central Africa, South Africa
Segments covered:	By Product Type: Ostomy Collection Bags, Intravenous (IV) Fluid bags, Continuous Ambulatory Peritoneal Dialysis (CAPD) Bags, Resuscitation Bags, Urinary Collection Bags, Sterile Packaging Bags, Anesthesia Breathing Bags, Cadaver (Body) Bags, Blood Bags, Enema Bags, Enteral Feeding Bags, Bile Collection Bags, Ice Bags.
Companies covered:	Braun Melsungen AG, Baxter International, Inc., Coloplast A/S, ConvaTec, Inc., Hollister Incorporated, Medline Industries Inc., Nolato AB, BD, Macopharma SA, Terumo Corporation, Smiths Medical, Fresenius SE & Co. KGaA, HLL Lifecare Limited, Ostique, Grifols, and AdaptHealth LLC.
Growth Drivers:	Increasing prevalence of chronic disorders Approval and launch of new products
Restraints & Challenges:	Product recall

Global Medical Specialty Bags Market: Opportunities

Increasing focus on plastic-free products is expected to offer lucrative growth opportunities for players in the global medical specialty bags market. For instance, in October 2019, HLL Lifecare Limited launched a “Plastic free HLL” campaign in connection with the ‘Swachhata hi Seva’ (Cleanliness is Service) campaign launched by the Government of India

Moreover, increasing funding for R&D of new products is also expected to aid in growth of the global medical specialty bags market. For instance, in January 2019, Ostique, a startup company focused on developing products that are more convenient from the traditional ostomy bags, received around US$ 340,000 from Innovate UK, the U.K.’s innovation agency.

Statistics:

The global medical specialty bags market was valued at US$ 8,683.7 Mn in 2019 and is forecast to reach a value of US$ 12,085.5 Mn by 2027 at a CAGR of 4.2% between 2020 and 2027.

Figure 2: Global Medical Specialty Bags Market Value (US$ Mn), 2016 – 2027

Market Trends/Key Takeaways

Major players in the global medical specialty bags market have assessed the impact of Covid-19 on supply chain. For instance, in March 2020, Hollister Incorporated announced that the company does not anticipate any impact to its ability to supply ostomy or intermittent catheter products due to the spread of COVID-19

Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in January 2019, Macopharma partnered with South Texas Blood & Tissue Center and Calimex to implement a paperless process from electronic donor registration through blood donation.

Regulations

Global Medical Specialty Bags Market: Competitive Landscape

Major players operating in the global medical specialty bags market include, Braun Melsungen AG, Baxter International, Inc., Coloplast A/S, ConvaTec, Inc., Hollister Incorporated, Medline Industries Inc., Nolato AB, BD, Macopharma SA, Terumo Corporation, Smiths Medical, Fresenius SE & Co. KGaA, HLL Lifecare Limited, Ostique, Grifols, and AdaptHealth LLC.

Global Medical Specialty Bags Market: Key Developments

Major players in the market are focused on acquiring contracts to enhance their market share. For instance, in January 2020, Coloplast A/S was awarded a three-year group purchasing agreement for ostomy products with Premier Inc. in the US.

Table of Content

*Browse 26 market data tables and 16 figures on “Medical Specialty Bags Market - Global forecast to 2027”.

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- Frequently Asked Questions -

What is the current market size and Compound Annual Growth Rate (CAGR) of the market during the forecast period (2020-2027)?

The Global Medical Specialty Bags market size was valued at US$ 8,683.7 million in 2019 and is estimated to exhibit a CAGR of 4.2% between 2020 and 2027.

Which segment, based on product type, accounted for the highest demand in the market?

Ostomy Collection Bags segment held the major market share in 2019 owing to increasing product approvals is expected to propel growth of the market.

Which are the key factors driving the growth of the Global Medical Specialty Bags market?

Major factor driving the growth of Global Medical Specialty Bags market during the forecast period increasing prevalence of chronic diseases, increasing product approvals , and adoption of expansion strategies from major companies.

What are the key factors hampering the growth of the market?

Major factors hampering the growth of the Global Medical Specialty Bags market during the forecast period constitutes of product recalls.

Which region held the largest market share in the Global Medical Specialty Bags market?

North America market is expected to generate the highest revenue during the forecast period.

Who are the key players operating in this market?

Some of the key players operating in the market are Braun Melsungen AG, Baxter International, Inc., Coloplast A/S, ConvaTec, Inc., Hollister Incorporated, Medline Industries Inc., Nolato AB, BD, Macopharma SA, Terumo Corporation, Smiths Medical, Fresenius SE & Co. KGaA, HLL Lifecare Limited, Ostique, Grifols, and AdaptHealth LLC.

Medical specialty bags market

Medical Specialty Bags Market Report Coverage

Table of Contents

- Frequently Asked Questions -

What is the current market size and Compound Annual Growth Rate (CAGR) of the market during the forecast period (2020-2027)?

Which segment, based on product type, accounted for the highest demand in the market?

Which are the key factors driving the growth of the Global Medical Specialty Bags market?

What are the key factors hampering the growth of the market?

Which region held the largest market share in the Global Medical Specialty Bags market?

Who are the key players operating in this market?

Reliability and reputation

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