PUBLISHER: Grand View Research | PRODUCT CODE: 1529860
PUBLISHER: Grand View Research | PRODUCT CODE: 1529860
The global medical specialty bags market size was estimated at USD 14.06 billion in 2030 and is expected to grow at a CAGR of 4.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing percentage of aging population and prevailing diseases such as urinary incontinence is expected to be the key driving factor for market growth over the next seven years.
Government policies and initiatives intended to draw customer attention by improving the 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 the medical specialty 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 the introduction of affordable medical specialty bags in emerging economies such as Brazil, China, and India is anticipated to propel the future growth of the industry. High excise tax rates on healthcare devices in theU.S and Canada is expected to serve as a key challenge for the medical specialty bags market over the next seven years.
Based on the type of product, the 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).