The global medical specialty bags market size at a CAGR of almost 6% during the forecast period

NEW YORK, June 26, 2019 /PRNewswire/ --Global Medical Specialty Bags Market:

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Medical specialty bags are empty containers used for the collection of body wastes and supply of nutrients to patients during surgeries and critical conditions. Technavio's medical specialty bags market analysis considers the sales of ostomy bags, IV fluid bags, CAPD bags, other medical specialty bags, urine bags, enteral feeding bags, blood bags, and anesthesia and resuscitation bags. Our analysis also considers the sales of medical specialty bags in Asia, Europe, North America, and ROW. In 2018, the ostomy bags segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing geriatric population will play a significant role in the ostomy bags segment to maintain its market position. Also, our global medical specialty bags market looks at factors such as increasing incidence of diseases, increasing number of surgical, dialysis, and blood transfusion procedures, and technological advances. However, risk factors and complications associated with medical specialty bags, consolidation of buyer groups, and intense competition among vendors leading to pricing pressure may hamper the growth of the medical specialty bags industry over the forecast period.

Global Medical Specialty Bags Market:


Increasing number of surgical, dialysis, and blood transfusion procedures

The growing prevalence of various diseases such as cancer, IBD, and diverticulitis has increased the demand for ostomy procedures across the world. Every year over a hundred thousand ostomy procedures are being performed in North America. Cardiac surgeries generally account for nearly 15% of blood transfusions. The high prevalence of these surgeries has increased the consumption of blood bags. Patients with medical conditions such as chronic renal failure regularly receive dialysis treatments, which has led to a growth in the demand for CAPD bags. The increase in the number of such medical procedures is expected to drive the growth of the global medical specialty bags market size at a CAGR of almost 6% during the forecast period.

High growth potential in emerging countries

The growing geriatric population, the rapid expansion of the middle-class community, and increasing disposable income in developing countries are creating significant growth opportunities for medical specialty bags manufacturers. The growing demand for better and price-sensitive healthcare in developing countries has encouraged vendors to develop innovative products with local materials at affordable prices. These factors are expected to contribute to the growth of the market over the forecast period.

For the detailed list of factors that will drive the global medical specialty bags market size during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several players, quite a few players, the global medical specialty bags market is moderately fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several medical specialty bags manufacturers, that include B. Braun Melsungen AG, Baxter International Inc., Coloplast Group, ConvaTec Group Plc, and Hollister Inc.

Also, the medical specialty bags market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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The global medical specialty bags market size at a CAGR of almost 6% during the forecast period
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