The medical bags market is poised for remarkable growth, with a projected growth rate exceeding 8% throughout the forecast period, expected to culminate in a market valuation of approximately US$ 8 billion by the year 2031. These specialized bags are meticulously designed to ensure the safety and well-being of patients and are employed in various medical applications, including urine collection, blood storage, bile collection, enteral feeding, sterile packaging, and more.
Manufactured with advanced materials such as plastic, polymers, latex, and others, these bags are engineered to maintain exceptional quality and minimize the risk of contamination. A significant driving force behind the global growth of the medical bags market is the increasing prevalence of chronic diseases, encompassing conditions like cancer, diabetes, cardiovascular diseases, kidney and liver infections, which underscore the critical need for these specialized medical bags in the healthcare industry.
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Driving Demand for Medical Bags
The prevalence of lifestyle-related chronic illnesses like cardiovascular diseases, gastrointestinal issues, and musculoskeletal disorders has been surging on a global scale.
Chronic diseases have now become the leading cause of mortality among adults worldwide, and this grim statistic is anticipated to worsen further, with an expected 20% increase in the next decade. Alarmingly, nearly one in three adults across the globe grapple with multiple chronic conditions simultaneously.
As per the projections of the World Health Organization, the prevalence of chronic diseases is poised to escalate by a significant 57% by the year 2020. Emerging markets are expected to bear the brunt of this increase, as the most substantial population growth is anticipated to occur in developing nations. This trend underscores the pressing need for healthcare and preventive measures to address the growing burden of chronic ailments.
Market Drivers
- Rising Chronic Diseases: The increasing prevalence of chronic diseases, including cardiovascular disorders, diabetes, cancer, and kidney diseases, drives the demand for medical bags used in various medical applications.
- Aging Population: The global aging population is more susceptible to chronic illnesses, leading to a greater need for medical bags for treatments, diagnostic tests, and patient care.
- Advancements in Materials: The use of advanced materials such as specialized plastics, polymers, latex, and others enhances the quality and sterility of medical bags, making them crucial in healthcare settings.
- Safety and Contamination Control: Medical bags play a critical role in maintaining the safety and hygiene of medical products, including blood, urine, bile, and enteral feeds, reducing the risk of contamination.
- Growth of Healthcare Facilities: The expansion of healthcare facilities and the increasing demand for medical services contribute to the growth of the medical bags market.
- Global Health Challenges: The COVID-19 pandemic and other infectious disease outbreaks highlight the importance of medical bags for specimen collection, containment, and transport.
Key Market Players
- B. Braun Melsungen AG
- Baxter International Inc.
- Coloplast AS
- ConvaTec Group Plc
- Hollister Inc.
- Becton
- Dickinson and Co.
- Cardinal Health Inc.
- Fresenius Medical Care AG & Co. KGaA
- Terumo Corporation
- Kawasumi Laboratories Inc, among others.
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Key Segments
By Product:
- Urinary Collection Bags
- Continuous ambulatory peritoneal dialysis (CAPD) bags
- Anesthesia breathing bags
- Blood bags
- Ostomy collection bags
- Enteral feeding bags
- Bile collection bags
- Sterile packaging bags
- Resuscitation bags
- Intravenous (IV) fluid bags
- Cadaver bags
- Enema bags
- Ice bags
By End User:
- Hospitals
- Surgical Centers
- Healthcare Centers
- Home Healthcare
- Others
By Region:
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- BENELUX
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia & Pacific
- India
- Thailand
- Indonesia
- Malaysia
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- Rest of Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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