The medical specialty bags global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Specialty Bags Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical specialty bags market size has grown steadily in recent years. It will grow from $8.04 billion in 2023 to $8.43 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing specialization of medical professions, rising prevalence of chronic diseases, growing demand for minimally invasive procedures, expanding global healthcare, rising disposable income levels.
The medical specialty bags market size is expected to see strong growth in the next few years. It will grow to $10.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing focus on preventive healthcare, rising demand for personalized medicine, expanding demand for home healthcare services, increasing focus on patient safety, aging population. Major trends in the forecast period include adoption of digital health technologies, smart medical bags, customized patient-centric solutions, infection control, sustainability and biodegradability.
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Scope Of Medical Specialty Bags Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Specialty Bags Market Overview
Market Drivers –
The growing number of surgeries is expected to propel the growth of the medical specialty bags market going forward. Surgery is a medical procedure that involves using instruments and techniques to treat, diagnose, or correct various conditions, diseases, or injuries within the body. Medical specialty bags are essential for numerous elements of patient care, waste containment and equipment sterilization during surgical operations. For instance, in April 2022, according to the British Heart Foundation, a UK-based independent funder of research into heart and circulatory diseases, stated that transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI) surgery increased to 6,328 in 2021/22 from 5,676 in 2019/20. Therefore, the growing demand numbers of surgeries is driving the growth of the medical specialty bags market.
Market Trends –
Major companies operating in the medical specialty bags market are developing innovative products with advanced features, such as dual chamber bags products to sustain their position in the market. Dual chamber bags are specialized medical bags with two distinct compartments or chambers intended to contain and transport two distinct components of medical treatment. For instance, in June 2022, Gufic Biosciences Ltd., an India-based pharmaceutical company, launched indigenously produced dual chamber bags made of polypropylene (DEHP free) with a peelable aluminum foil. These bags are designed to store unstable drugs that require reconstitution just before administration to the patient. The launch of these bags offers a new drug delivery system option for healthcare providers and patients, providing a convenient and efficient solution for storing and administering unstable drugs.
The medical specialty bags market covered in this report is segmented –
1) By Product: Intravenous Fluid Bags; Ostomy Bags; Sterile Packaging Bags; Continuous Ambulatory Peritoneal Dialysis Bags (CAPD); Anesthesia And Resuscitation Bags; Other Products
2) By Material: Polyvinyl Chloride (PVC) Compounds; Polyolefins; Other Materials
3) By End-User: Hospitals; Ambulatory Surgical Centers; Home Healthcare; Other End-Users
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Regional Insights –
North America was the largest region in the medical specialty bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in medical specialty bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major players in the medical specialty bags market are Pall Corporation, Fresenius Medical Care AG & Co., Baxter International Inc. , DuPont de Nemours Inc., B. Braun Medical Inc., Sealed Air Corporation, Terumo Corporation, Becton Dickinson & Company, C. R. Bard Inc., Hollister Incorporated, Coloplast Corp., Convatec Inc., Nolato AB, Custom Pack Inc., Ambu A/S, Macopharma Inc., Bausch Advanced Technology Group, Technoflex EN, JMS North America Corporation, Narang Medical Limited, Kiefel Technologies Inc., AdvaCare Pharma, Renolit SE, Westfield Medical Ltd., Sippex, BL Lifesciences, Kawasumi Laboratories America Inc., International Plastics Inc., Armand Manufacturing Inc., Uniflex Healthcare.
Table of Contents
1. Executive Summary
2. Medical Specialty Bags Market Report Structure
3. Medical Specialty Bags Market Trends And Strategies
4. Medical Specialty Bags Market – Macro Economic Scenario
5. Medical Specialty Bags Market Size And Growth
…..
27. Medical Specialty Bags Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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