Medical Specialty Bags Market to Exhibit Significant CAGR by 2020

January 27, 2017

Growing geriatric population and patient awareness are two vital factors that propel the global medical specialty bags market. Urinary incontinence & dissoluteness are commonly occurring problems among the elderly; especially those above 60 years of age. Thus, the growing need for effective solutions to tackle this age-related problem could positively impact the overall industry from 2012 to 2020 (forecast period). Surging expenditure on healthcare also supports the industry.

Medical specialty bags are products that help curb & manage problems that stem from conditions, such as bile leakage and bowel incontinence. The performance of the global market depends significantly on new product innovation and technological advancements. The need for specialty bags arises during surgical procedures, such as laparoscopic surgeries and urinary surgical procedures. Moreover, high incidence of cancer, cardiovascular disorders, and cancer fuel industry demand.

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The worldwide medical specialty bags market is categorized as per products, applications, and geographies. Based on products, the categories are cadaver bags, ice bags, intravenous fluid bags, ostomy collection bags, CAPD (continuous ambulatory peritoneal dialysis) bags, enema bags, resuscitation bags, blood bags, enteral feeding bags, sterile packaging bags, bile collection bags, urinary collection bags, and anesthesia breathing bags. Ostomy collection bags are ideal for patients suffering from urinary dissoluteness. This product segment is expected to witness high demand over the forecast period.

The global market is characterized by continuous improvements in medical standards & facilities. Such a trend could have a positive impact on product demand in the forthcoming years. Furthermore, heightened awareness among the masses not just about health but also hygiene may fuel the medical specialty bags industry in the years to come. As per applications, the segments are SurgiCenters, hospitals & medical centers, and home healthcare. Due to widespread awareness and surging demand, SurgiCenters may augment industry growth.

Geographically, the global market is divided into Asia Pacific, North America, Europe, and Rest of the World (RoW). Owing to high disposable incomes and rising per capita spending on healthcare, North America dominates the overall market. Other regional drivers are advanced healthcare infrastructure and implementation of several government initiatives. The active participation of NGOs has also played a vital role in supporting the North America market. The region contributed to more than 42% of overall revenues in 2013. However, current industry trends suggest that Asia Pacific may lead the global industry till 2020. Factors that drive this region are economic development, favorable government initiatives, and growing geriatric population.

Key companies in the global medical specialty bags market are Pall Corporation, Westfield Medical Ltd., B Braun Medical, Coloplast A/S, and Terumo Corporation. PVC (polyvinyl chloride) is the most commonly used material in the bag & tubing industry. However, there are a number of OEMs (original equipment manufacturers) that seek alternative materials to replace PVC. Ethylene vinyl acetate (EVA) polymers generally do not need plasticizers. Ateva® G EVA polymers manufactured by Celanese Corporation is a widely accepted product in parenteral nutrition bag applications. This product is ideal for OEMs that aim at offering nutrition bags that are 100% non PVC-based. Celanese Corporation is a Fortune 500 specialty materials company based in Texas, U.S.

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