Global Medical Specialty Bags Market

Medical Specialty Bags Market Size, Share, Growth Analysis, By Product Outlook(Anaesthesia Breathing Bags, Urinary Collection Bags, Bile Collection Bags, and Ostomy Collection Bags), By End User(Hospitals, Ambulatory Surgical Centers, Home Healthcare, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35B2219 | Region: Global | Published Date: November, 2024
Pages: 206 | Tables: 65 | Figures: 70

Medical Specialty Bags Market Competitive Landscape

This is one of the most competitive industries and dominated by specialist regional businesses and established global companies. Major corporations in this market include Hollister Incorporated, Coloplast, and Baxter International, with large product portfolios and strong R&D capabilities that lend a dominant position. The drivers of competition are innovation in materials and technology, regulations, and cost effectiveness. New entrants and niche firms, moreover, who focus on specialized or advanced products, characterize the market dynamics.

Top Player’s Company Profiles

  • B. Braun SE  
  • Baxter  
  • Medline Industries  
  • Coloplast A/S  
  • Convatec Inc.  
  • Owens & Minor  
  • 3M  
  • Fresenius Medical Care AG  
  • Berry Global  
  • Hollister Incorporated  
  • Cardinal Health  
  • Macopharma  
  • Pall Corporation  
  • Terumo Corporation  
  • Sealed Air  
  • Festo  
  • Sartorius  
  • Uflex  
  • Thermo Fisher Scientific  
  • Kuraray

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FAQs

Global Medical Specialty Bags Market size was valued at USD 9.8 billion in 2022 and is poised to grow from USD 10.24 billion in 2023 to USD 14.56 billion by 2031, growing at a CAGR of 4.50% during the forecast period (2024-2031).

This is one of the most competitive industries and dominated by specialist regional businesses and established global companies. Major corporations in this market include Hollister Incorporated, Coloplast, and Baxter International, with large product portfolios and strong R&D capabilities that lend a dominant position. The drivers of competition are innovation in materials and technology, regulations, and cost effectiveness. New entrants and niche firms, moreover, who focus on specialized or advanced products, characterize the market dynamics. 'B. Braun SE  ', 'Baxter  ', 'Medline Industries  ', 'Coloplast A/S  ', 'Convatec Inc.  ', 'Owens & Minor  ', '3M  ', 'Fresenius Medical Care AG  ', 'Berry Global  ', 'Hollister Incorporated  ', 'Cardinal Health  ', 'Macopharma  ', 'Pall Corporation  ', 'Terumo Corporation  ', 'Sealed Air  ', 'Festo  ', 'Sartorius  ', 'Uflex  ', 'Thermo Fisher Scientific  ', 'Kuraray'

The increasing geriatric population increases the demand for specialty medical bags. Old people have health conditions related to aging and chronic diseases, which compel them to continue consulting the specialists. The attack of any of these chronic illnesses related to aging increase since longevity is on the rise. The demand to increase the need for home healthcare services in old people opting to take the treatment at home instead of in institutions is pressured by this choice. In this respect, the resultant demand for different specialist bags designed for home and hospital use increases the market growth in totality.

In-Home Medical Care is on the Rise: This trend in home healthcare poses several challenges for the medical specialty bags market. Older populations and increased chronic diseases necessitate growing demands for more care at home rather than through institutional environments. The demand for specialized bags to be used at home, such as for wound care and ostomy management and infusion treatment, is, therefore, supported by this trend. Other trends gaining popularity include disposable options and friendly designs. This trend is just in line with broader health care objectives that revolve around patient comfort and methods of care that are more affordable, for which reason the home health care market is booming.

As of 2023, the North American market accounted for 27.85% of the total medical specialty bags market. North America's robust and developed health care system and higher adoption rate are contributions driving the market. Pharmaceutical companies operating within this region continue to invest in resources in the development of medical specialty bags consistently. According to published data by the Centers for Medicare and Medicaid Services, the national health expenditures increased 4.1% in 2022 to reach a total of USD 4.5 trillion, or 17.3% of GDP. During 2024-2031, the US medical specialty bags market is slated to witness an impressive growth rate. The competition in this market has become very aggressive with top-grade global players vying for leadership positions. Manufacturers are increasingly incorporating smart technology and innovative materials to make their products more useful and safer.

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Global Medical Specialty Bags Market

Report ID: SQMIG35B2219

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