Medical Specialty Bags Market Is Projected To Grow Rapidly Due To Growing Health Awareness Regarding Various Diseases Till 2020: Grand View Research, Inc.
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).
Asia
Pacific Medical Specialty Bags Market share, by product, 2014-2024 (USD Million)
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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
• 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
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Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-specialty-bags-market
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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