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The Global Medical Specialty Bags Market size is forecast to increase by USD 6.86 billion, at a CAGR of 9.86% between 2023 and 2028.
There have been significant technological advances across the globe. In addition, established companies are significantly investing in R&D to develop technologically advanced products. Moreover, technological advances have led to the development of advanced ostomy bags that cater to patient-specific requirements. In addition, ConvaTec Group Plc offers the Esteem+ Flex Convex 1-piece System for patients with colostomies, ileostomies, and urostomies. Furthermore, it is specially designed to be used in any part of the body and is comfortable to wear, moving with the body in any position such as standing, sitting, or sleeping. Hence, such factors are positively impacting the market.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The ostomy bags segment is estimated to witness significant growth during the forecast period. The ostomy bag segment refers to a small, waterproof pouch used to collect waste from the body during a surgical procedure known as an ostomy. In addition, in ostomy surgery, an opening called a stoma is created between the intestines and the abdominal wall to provide an alternative way to pass the waste materials of the body.
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The ostomy bags segment was the largest segment and was valued at USD 2.12 billion in 2018. Moreover, an ostomy is performed to treat conditions involving damage to the colon or large intestines, such as Inflammatory bowel disease (IBD), ulcerative colitis, Crohns disease, colorectal cancer, bladder cancer, trauma, and diverticulitis. In addition, colostomy, ileostomy, and urostomy are the three major types of ostomy surgeries. Furthermore, the wide availability of ostomy products allows end-users to choose from different material-based ostomy bags such as polyethylene terephthalate (PET), plastic, and rubber. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The hospital segment holds the majority share of the global market, fuelled by the increase in the number of inpatients with critical diseases and the high number of surgeries being performed in hospitals. In addition, there are many hospitals and multispecialty hospitals that work under government sponsorship or through private entities. Moreover, the multispecialty hospitals have a capacity of 500 beds and engage closely with many suppliers to procure therapeutic devices and medicinal supplies in bulk. Furthermore, many reimbursement authorities and government organizations tie up with the hospitals to help the patients. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The ASCs segment is a rapidly growing healthcare provider segment. In addition, ASCs consist of advanced operating equipment, specialist surgeons, and well-equipped operating and recovery rooms without complex administrative procedures. Furthermore, the cost of surgery in these centers is significantly less than in hospitals. Moreover, the use in ASCs is expected to grow steadily fuelled by the increasing number of surgical procedures being performed in these centers. In addition, many ASCs are a part of GPOs, which helps them save a significant amount on the purchase of medical devices. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US and Canada are significant contributors to revenue to the market in North America. In addition, the market in the region is driven by the increase in the aging population, the strong presence of established companies, the rising prevalence of cancers, chronic diseases, IBD, ESRD, urinary incontinence, and the related risk factors. Furthermore, the presence of established vendors and the manufacturing of different types of bags, such as disposable and reusable specialty bags, which are made of biocompatible materials such as PVC-free and latex-free materials and cater to different needs and applications, are expected to increase the adoption in North America. Hence, such factors are driving the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Ambu AS: The company offers medical specialty bags such as KingBreathing bags, Rainbow Breathing bags, and Contour breathing bags.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the market growth is the increasing number of surgical, dialysis, and blood transfusion procedures. The increase in the number of surgeries implies the rising use of different medical specialty bags to aid in various surgical procedures. For example, colostomies and ileostomies are performed to manage a variety of medical conditions, such as colorectal cancer, IBD, and diverticulitis.
Moreover, the increasing incidence of these diseases is leading to the rising demand for ostomy procedures globally. For example, in North America, about one million patients have stomas at any given time, and approximately 110,000-130,000 ostomy procedures are performed every year. In addition, transfusions are mostly required in cardiovascular surgeries, massive trauma surgeries, transplant surgeries, and therapies for solid and hematological malignancies. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the increasing marketing strategies related to the companies. Major companies in the market are increasingly adopting innovative marketing strategies to increase their market penetration. In addition, companies are also increasing their product portfolio and having strategic collaborations and partnerships with healthcare professionals and GPOs to increase their market penetration and the scope of cross-selling their products.
Moreover, ConvaTec Group Plc continues to strengthen its relationships with ostomy caregivers in hospitals to increase the familiarity of its products and provide them with the necessary tools for simple, easy, and accessible ostomy care. In addition, the company is focused on expanding direct-to-consumer programs for frequent and direct engagement with ostomates. Furthermore, this helps in developing strong and long-term customer relationships. Hence, such factors are driving the market growth during the forecast period.
Consolidation of buyer groups is one of the key challenges hindering market growth. The financial performance and profitability of the manufacturers depend on the sales of their products profitably to the customers. In addition, companies in the market depend on large private institutions and commercial payers, including GPOs and consolidated large healthcare systems (integrated delivery networks), to sell their products.
Moreover, all these purchasing groups have consolidated pricing power and drive cost containment and lower prices. In addition, healthcare systems around the world are increasing efforts to reduce overall spending due to the growing demand for care and treatment, combined with worldwide government austerity programs. Therefore, healthcare providers are putting more emphasis on value-based healthcare solutions that deliver better outcomes at lower costs. As a result, it has increased the number of stakeholders that make medical device buying decisions. Hence, such factors are hindering the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The Market is witnessing significant growth, propelled by the increasing elderly population and the prevalence of acute diseases like urinary bladder cancer and related disorders. These bags play a crucial role in providing a sterile and hazard-free environment for various medical procedures, including blood storage, gastrointestinal feeding, and urinary collection. With advancements in technology and materials, manufacturers are producing sterile packaging and custom specialty bags to meet specific healthcare needs.
Government agencies and healthcare infrastructure are focusing on compensation policies and reimbursement plans to ensure access to these essential products. Competitive prices, along with research and development initiatives, are driving market expansion, with companies like Hollister Incorporated and Coloplast Group investing in product launches and strategic acquisitions. As emerging economies prioritize healthcare, the market is expected to continue growing, with innovations such as micro-holes in catheterizations and enhanced-stock product programs driving revenue share in the healthcare sector.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Medical Specialty Bags Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.86% |
Market Growth 2024-2028 |
USD 6.86 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.24 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 34% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ambu AS, B.Braun SE, Baxter International Inc., Becton Dickinson and Co., Cardinal Health Inc., CliniMed Ltd., Colo Majic Enterprises Ltd., Coloplast AS, ConvaTec Group Plc, Hollister Inc., Macopharma, Medline Industries LP, Mitra Industries Pvt. Ltd., Nolato AB, SIPPEX, Sumitomo Bakelite Co. Ltd., Teleflex Inc., Terumo Corp., VBM Medizintechnik GmbH, and Vogt Medical Vertrieb GmbH |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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