Special bags utilized for healthcare purposes are known as medical speciality bags. The medical specialty bags market is estimated to expand further over the forecast period due to technological advancements. Increasing awareness among patients, demand for user oriented services & products, and population above sixty five years are the primary drivers of the market.
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The geriatric population is prone to urinary incontinence. Rise in this population is anticipated to drive the market. Ostomy collection bags are used for incontinence purposes and drive market revenues. Mostly, speciality bags are utilized for surgeries. The availability and affordability of these products make them flexible and eye-catching for end-users.
Healthcare amenities and policies are getting better. These, coupled with technological developments and health awareness, positively impact the medical specialty bags market. The market is trifurcated according to products, applications, and regions.
Some of the products include ostomy collection, bile collection, intravenous fluid, resuscitation, blood, and anesthesia breathing bags. Urinary collection, continuous ambulatory peritoneal dialysis, enteral feeding, ice, sterile packaging, enema, and corpse bags are the remaining ones.
PVC and non-PVC material based bags are the two kinds of intravenous fluid bags. Reusable and disposable are the two types of resuscitation bags. Ostomy collection bags are segmented into single use and multiple use. Revenues wise, ostomy collection bags led the market in 2011.
Bile collection bags would grow at one of the swiftest CAGRs in the years ahead. Applications of the medical specialty bags market comprise hospitals, medical centres, and others. ‘Others’ includes home healthcare and SurgiCenters. Hospitals and medical centers capture the biggest share. They are also projected to lead the market during the forecast period.
Europe, North America, Asia Pacific, and rest of the world are the various market regions. North America dominated in 2011. The key reasons for its dominance are fiscal growth and health awareness in the United States. Asia Pacific will witness maximum CAGR (more than 6 percent) during 2014 to 2020. Europe is predicted to dominate the market in the future.
Major companies affiliated with the worldwide medical specialty bags market encompass Westfield Medical Ltd, Convatec Inc., Fresenius Medical Care AG & Co., Maco Pharma, and Coloplast A/S.
Information Source: Grand View Research