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 News

  • In February 2024, for the first time, Xheme-a leading company with innovative medical technology-has partnered with the Vitalant Research Institute to develop a new non-toxic, PVC-free blood bag technology. It is going to be a much-needed breakthrough in blood transfusion and storage due to possible health hazards associated with traditional PVC-based blood bags.
  • In January 2022, Vonco Products LLC, a strong and recognized contract manufacturer emphasizing fluid bags, biohazard transport goods, infection control equipment, and clean room services, acquired Flex-Pak Packaging goods, Inc. Vonco estimates that this deliberate step would expand its markets and customer base while enhancing its capabilities and offers linked to packaging.
  • In June 2022, Gufic Biosciences recently launched a new drug delivery system-dual-chamber bag. The bag is made of polypropylene with no DEHP and aluminum foil that can be peeled off. This new feature would allow even unstable medicines to be stored and then reconstituted right before infusion to the patient.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Feedback From Our Clients

Global Medical Specialty Bags Market

Report ID: SQMIG35B2219

$5,300
BUY NOW GET FREE SAMPLE