Global Medical Specialty Bags Market - 2020-2027
|特殊醫療袋全球市場：2020-2027 Global Medical Specialty Bags Market - 2020-2027|
|出版日期: 按訂單生產||內容資訊: 英文||
The global medical specialty bags market size was worth US$ XX billion in 2018 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Medical specialty bags are used in various applications such as urine collection, blood storage, bile collection, enteral feeding, sterile packaging, among others. These collection bags are manufactured with advanced materials to enhance their quality and are used to avoid any contamination. These medical specialty bags are highly used in hospitals to prevent the risk of any disease or infection. With the rising demand for the aseptic conditions in the medical institutes has increased the popularity of the medical specialty bags globally.
The global medical specialty bags market growth is majorly driven by increasing surgical procedures, such as ostomy procedures. The increasing incidence of several disorders such as colorectal cancer, diverticulitis, and IBD is driving the demand for surgical procedures. The surgical procedures involve a lot of blood loss, and there is a need for blood transfusions, which is leading to higher adoption of medical specialty bags as these are used for the transfer of blood and blood components, renal dialysis and collection, processing, and storage. Therefore, the increasing number of surgical procedures, dialysis, and blood transfusion procedures are expected to stimulate market growth over the forecast period.
The growing geriatric population is one of the major factors responsible for the increase in incidences of urinary incontinence which is expected to drive the demand for urinary collection bags. Since the aged population is more prone to urinary incontinence, the demand for medical specialty bags is increasing. Chronic kidney disease (CKD) is more common in people aged 65 years or older (38%) than in people aged 45-64 years (13%) or 18-44 years (7%) according to Centers for Disease Control and Prevention (CDC). Several countries are facing challenges due to the ongoing and the increasing demographic shift in age among their people. According to the Department of Economic and Social Affairs Population Division of United Nations, 2017, the world's population who are 60 years old will double and those of 80 years old will triple during the next 30 years.
Furthermore, the medical specialty bags market is expected to grow significantly over the forecast period due to the increasing technological advancements in the healthcare sector and improved medical facilities. The increasing awareness of towards hygiene and health is fuelling the growth of the medical specialty bags market. Also, growing support from the government organizations also positively affects market growth since they facilitate the investments in the healthcare infrastructure, favourable reimbursement policies, and in encouraging the research and development activities.
Due to the outbreak of COVID-19, research labs have increased their research & development to find solutions which can minimize the symptoms of coronavirus at early stages. It is observed that the intravenous immunoglobulin and LMWH (Low-molecular-weight heparin) anticoagulant therapy holds promising potentials in improving the COVID-19 prognosis. Hence, companies in the IV bags and other medical specialty bags market are focusing on this trend and increasing their efforts to boost the production capabilities amidst the COVID-19 pandemic. Intravenous immunoglobulin and LMWH anticoagulant therapy can lower the lymphocytes and B lymphocytes in peripheral blood, resulting in improvements in patients. The initiation of IV immunoglobulin and LMWH anticoagulant therapy in COVID-19 patients is projected to create revenue opportunities for manufacturers of medical specialty bag. However, lack of raw material availability and delayed supplies are some of the challenges that packaging manufacturers are currently facing in the market due to COVID-19.
On the basis of product, the global medical specialty bags market is segmented into urinary collection bags, continuous ambulatory peritoneal dialysis (CAPD) bags, anaesthesia breathing bags, blood bags, ostomy collection bags, enteral feeding bags, bile collection bags, sterile packaging bags, resuscitation bags, intravenous fluid bags, cadaver bags, enema bags, and ice bags. Among these, the ostomy collection bags is estimated to dominated the global medical specialty bags market during the forecast period. These are available in either single-use bags or multiple-use bags. The SenSura Mio Baby ostomy bag manufactured by Coloplast is characterized by its long wear time, which ensures that premature babies are not disturbed. The bag adhesive is designed for sensitive skin and easy reuse. It stays on the baby's belly when the bag is changed. The SenSura Mio Kids ostomy bag is covered in a skin-friendly textile and discreet under clothing.
The Intravenous fluid bags are estimated to grow at the fastest growth rate over the forecast period, due to its various applications such as maintaining the correct electrolyte imbalance, sustaining and balancing the basal hydration level, and expanding IV volumes hypovolemic state in patients. Also, IV fluid bags are used in various healthcare processes along with the convenience and ease with to provide nutrition to any patient. However, the IV bags market is expected to experience a few challenges owing to the consequences of sterilizing IV bags. Also, growing environmental impacts associated with the use of PVC, demand is anticipated to shift towards non-PVC material over the forecast period.
The IV bags market is predicted to reach an output of over 5,000 units by the end of 2027. However, a shortage of IV fluids in the U.S. healthcare system is likely to hamper the market of IV bag. Hence, pharmaceutical companies are adopting several strategies to strengthen their supply chains in the U.S. For instance, B. Braun has launched their Solutions for Life initiative by investing in IV therapy manufacturing facilities to ensure long-term supplies for the U.S. healthcare systems. Such initiatives are helpful for companies in the IV bags market.
Based on end-user, hospitals accounted for the largest market share in 2019, as the medical specialty bags are widely used in hospitals. These are particularly used for surgeries in hospitals. Home healthcare and SurgiCenters also utilize medical specialty bags but constitute a niche market segments.
North America region is dominating the global medical specialty bags market accounting for the largest market share in 2019, owing to rising incidences of chronic disorders and increasing surgical procedures which increases the demand for medical specialty bags. As per the National Association for Incontinence (NAFC), in North America, nearly 200 million people are affected by urinary incontinence. The United States and Canada are the key contributing regions for medical specialty bags in North America, owing to well-established healthcare infrastructure and favourable reimbursement policies in these countries.
On the other hand, Asia-Pacific medical specialty bags market is growing at the fastest growth rate owing to the rising geriatric population developing countries where the demand for medical urinary collection bags and other medical specialty bags is increasing. According to the WHO, by 2050, approximately 120 million people living in China will be 80 years or above. In addition, the growing financial assistance provided through the Continence Aids Payments Scheme in Australia is expected to boost the growth of the market in the Asia Pacific region over the forecast period.
The medical specialty bags market is highly competitive and consists of several major players and the emergence of new players in the market. Some of the key players which are contributing to the growth of the market 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.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the medical specialty bags market globally. For instance, in May 2019, B. Braun Medical has announced that it is investing $1 billion into new and existing IV fluid manufacturing facilities to address the IV solution shortage exacerbated by Hurricane Maria's making landfall in Puerto Rico.
The global medical specialty bags market report would provide an access to an approx. 53 market data table, 49 figures and 250 pages.
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