Medical Specialty bag Market - Forecasts from 2024 to 2029

The medical specialty bag market was valued at US$7.726 billion in 2022 and is expected to grow at a CAGR of 4.62% during the forecast period.

One of the main reasons propelling the expansion of the medical specialty bags market at the moment is the growing awareness of health issues brought on by the greater frequency of different chronic diseases, particularly among the ageing population. This is reinforced by the growing demand for customer-focused goods and services, which in turn is promoting the global acceptance of products. Accordingly, several beneficial initiatives implemented by the governments of various nations to fortify the healthcare system and raise medical standards by utilizing better reimbursement plans are serving as additional growth-promoting factors.

Introduction:

Medical specialty bags are lightweight, premium, custom-made, carry-anywhere bags made of high-tech materials like polyester and polymer films. They help keep a variety of biological samples sterile so that leaks may be prevented and illnesses brought on by bowel incontinence can be contained. Medical speciality bags are widely used for sterile packing, continuous feeding, bile collection, and the collection of blood and urine samples because of these characteristics. The market is expanding as a result of the growing need for polyvinyl chloride (PVC) bags in the healthcare industry due to these bags' adaptability, affordability, and capacity for recycling. The market is growing because intravenous (IV) treatment bags are widely used in many different applications, including operations, patient feeding, maintaining baseline hydration levels, and maintaining the proper electrolyte balance. Furthermore, the approval and launch of the new products strategic alliances between major competitors and ongoing expenditures in medical science research and development (R&D) to introduce cutting-edge medical instruments and accessories are also likely to fuel market growth.

Drivers:

• Rising incidents of chronic disease are likely to fuel market expansion: The rise in chronic diseases such as diabetes, renal problems, and gastrointestinal ailments has raised the need for specialty bags for treatments such as dialysis, enteral feeding, and ostomy care, which will drive market expansion over the forecast period.
• Increase in healthcare spending is a primary market driver: Increasing healthcare expenditures and ongoing healthcare reforms are driving demand for medical specialty bags. Government initiatives throughout the world to improve healthcare infrastructure, particularly in tier 2 and tier 3 cities, were leading to improved access to innovative medical items, supporting market expansion.
• The recent technological advancements in the healthcare sector are fueling market expansion: The medical specialty bag market is being fueled by ongoing improvements in healthcare technology and a growing emphasis on patient comfort, safety, and convenience in the design and production of specialized bags, particularly for patients requiring long-term care or managing chronic diseases.
• The growing demand for home healthcare is propelling the market demand for specialty medical bags: The rising trend toward home healthcare is creating demand for portable, easy-to-use specialist bags that may be used outside of clinical settings. In the healthcare business, the need for medical equipment such as IV bags, ostomy bags, enteral feeding bags, and urine collection bags is growing which is eventually generating the demand for the specialty medical bags.

Products offered by key companies:

• CeraRing™ Barrier Rings, Hollister Incorporated: Protecting the skin with ceramide infusion, CeraRingTM barrier rings to aid in stopping leaks. A secure, customized, and pleasant skin barrier fit is ensured by their flexible nature, range of sizes and forms, and ability to be moulded to fill in irregular skin contours surrounding the stoma.
• SpeediCath Flex, Coloplast A/S: SpeediCath is an all-in-one solution that uses soft catheter technology. SpeediCath catheters contain Triple Action Coating Technology, a unique hydrophilic coating that: reduces friction for urethral protection, lowering the incidence of UTIs. It softens and gentlens entry, resulting in reduced discomfort from start to end. It keeps a consistent degree of moisture without dry areas, so it's always ready to use.

The prominent growth in the IV bags sector under the bag type segment

The IV bag segment dominated the market and is likely to grow significantly over the forecast period. IV bags are expected to be in high demand in the market. IV bags are widely used for fluid administration because they provide vital fluids, electrolytes, and drugs directly into circulation. They offer a rapid and effective method of delivering these drugs to individuals who are unable to swallow prescriptions or require urgent hydration. IV treatment is vital in emergency and critical care settings for quick drug administration and resuscitation. IV bags enable healthcare personnel to quickly give life-saving medications and fluids.

The North American region is expected to hold a significant share of the medical specialty bag market:

The North American region captured the major market share and is likely to continue with this dominance over the forecast period. The rising prevalence of chronic diseases in the North American region is expected to boost market demand, and the industry is expected to grow at a strong CAGR. The medical specialty bags market in the United States is expanding significantly as a result of reasons such as an ageing population, a high prevalence of chronic illnesses, technological improvements, and a growing emphasis on home healthcare. The rising demand for medical speciality bags such as intravenous (IV) bags, ostomy bags, blood bags, enteral feeding bags, urine collection bags, etc is also assisting in market growth. In the United States, factors such as an increase in surgical operations, an increasing need for disposable medical supplies, a focus on infection control measures, and a trend toward home-based healthcare fuelled the demand for medical speciality bags.

Key developments:

• B. Braun strengthened its presence in Vietnam with the groundbreaking of the new facility in January 2022. The facility will also assist in expanding capacities and provide jobs for around 160 workers. It also makes it possible B. Braun Vietnam to continue to serve the markets and preserve and enhance the health of thousands of patients in Vietnam and throughout the world.
• Gufic Biosciences announced a novel medication delivery method, dual-chamber bags composed of polypropylene (DEHP free) with a peel-able aluminium foil, in June 2022, allowing the storage of unstable pharmaceuticals, which may be reconstituted immediately before patient administration.

Segmentation

BY BAG TYPE:

• IV Bags
• Blood Bags
• Urine Collection Bags
• Ice Bags
• Others

BY MATERIAL:

• Polyethylene
• Polypropylene
• Polyvinyl Chloride
• Others

BY END USE:

• Hospitals
• Research Centres
• Pharmaceutical Companies
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others