The medical specialty bags market is expected to reach
USD 10.31 billion by 2020 with the advent of technology and increasing demand
that emphasizes on customer value proposition of products and services.Growing
percentage of aging population and prevailing diseases such as urinary
incontinence is expected to be the key driving factor for marketgrowth over the
next seven years.
Government policies and initiatives intended
to draw customer attention by improving cost effectiveness of product offering
is expected to drive demand over the forecast period. Streamlined reimbursement
policies to make the product more attractive is also expected to play a major
role in the growth of medical speciality bag market over the forecast
period.
Rise in the disposable income and growing
health awareness regarding various diseases coupled with increasing unmet
medical needs and introduction of affordable medical specialty bags in emerging
economies such as Brazil, China and India is anticipated to propel future
growth of the industry. High excise tax rates on healthcare devices in theU.S
and Canada is expected to serve as key challenge for medical specialty bags
market over the next seven years.
Based on the type of product, medical
specialty bag market is broadly classified into 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).
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Ostomy collection bags was the largest product
segment in 2013 and is estimated to grow at a CAGR of 4.3% from 2014 to 2020 to
reach USD 2.94 billion. Bile collection bags, on the other hand, are expected
to grow at a fast pace with a CAGR of 6.5% from 2014 to 2020, on account of
rising need for minimally invasive laparoscopic cholecystectomy procedures.
Intravenous (IV) fluid bags market revenue is
estimated to reach USD 2,469.9 million by 2020, growing at a CAGR of 5.2% from
2014 to 2020. Medical specialty bags comprise niche segments including home
healthcare and SurgiCenters. Small non-hospital players such as SurgiCenters
are expected to drive the market growth owing to increasing demand and customer
awareness. These bags are used for surgeries in hospitals.
North America accounted for the largest share
of the market in 2013 owing to the existence of sophisticated healthcare
infrastructure, better patient awareness levels and reimbursement
framework.These elements are responsible for high rates of usage and procedure
volumes in the region.
Asia Pacific medical specialty bags markets
expected to grow at the highest CAGR of over 6.0% from 2014 to 2020. Improved
medical knowledge, in addition to improving healthcare infrastructure and
disbursements are some of the factors expected to account for its rapid growth
over the forecast period.
Key participants of this market include
Fresenius Medical Care AG & Co, Hollister Incorporated, Terumo Corporation,
Baxter International Inc., B Braun Medical Convatec Inc. and Coloplast A/S.
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Grand
View Research has segmented the medical specialty bags market on the basis of
product and region:
Medical Specialty
Bags Product Outlook
- Anesthesia breathing
bags
- Urinary collection
bags
- Bile collection bags
- Sterile packaging
bags
- Blood bags
- Ostomy collection
bags
- Single use bags
- Multiple use bags
- Enteral feeding bags
- Cadaver bags
- Resuscitation bags
- Disposable bags
- Reusable bags
- Continuous
ambulatory peritoneal dialysis (CAPD) bags
- Intravenous fluid
bags
- PVC material based
fluid bags
- Non- PVC material
based fluid bags
- Enema bags
- Ice bags
Medical
Specialty Bags Regional Outlook
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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