Medical Specialty Bags Market Scope
Medical specialty bags have a steady growing market due to the increasing number of hospital admissions. In addition, the rising demand for aseptic conditions in the medical area drives the growth of the medical specialty bags market. Medical specialty bags are used in various medical areas such as bile collection, blood storage, urine collection, enteral feeding, and sterile packaging among others. These bags are majorly used in the hospital area for the maintenance of sterilized conditions. Further, these bags help in controlling several diseases that arise from the problems of bowel incontinence and other medical conditions such as bile leakage. However, the high bargaining power of the buyer due to a large number of regional players hampers the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Coloplast (Denmark), ConvaTec (United Kingdom), Baxter (United States), B. Braun Melsungen (Germany), Hollister (United States), Smiths Medical (United States), Terumo (Japan), Oakmed (United Kingdom), Poly Medicure (India), Sippex IV bag (France), SunMed (United States), VBM Medical (United States) and Vogt Medical Vertrieb (Germany) |
CAGR | 5.5% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Medical Specialty Bags market throughout the predicted period.
Coloplast (Denmark), ConvaTec (United Kingdom), Baxter (United States), B. Braun Melsungen (Germany), Hollister (United States), Smiths Medical (United States), Terumo (Japan), Oakmed (United Kingdom), Poly Medicure (India), Sippex IV bag (France), SunMed (United States), VBM Medical (United States) and Vogt Medical Vertrieb (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Macopharma (United Kingdom), Ambu (Denmark) and Hospira (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Specialty Bags market by Type , by Application (Hospitals, Clinics and Others) and Region with country level break-up.
On the basis of geography, the market of Medical Specialty Bags has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2020, Coloplast A/S was awarded a three-year group purchasing agreement for ostomy products with Premier Inc. in the US.
Influencing Trend:
Increasing Research Activities and Scientific innovations
Market Growth Drivers:
Improving Patient Awareness and Growing Geriatric Population and High Prevalence of High Blood Pressure
Challenges:
Stringent Government Rules and Regulations
Restraints:
Product Recall
Opportunities:
increasing Funding for R&D of New Products, Profitable Chances in Developing Nations and Rise in the Healthcare Infrastructure in Developing Regions
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Specialty Bags Manufacturers, Raw Material Suppliers/ Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry