Medical Specialty Bags Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

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Medical specialty bags are for controlling several disorders that stem from medical conditions such as bile leakage and bowel incontinence. These bags are also used for storing blood, cadaver, and packaging sterilized items. Global aging population, growing global healthcare-related consumer spending, lenient FDA regulations for class 1 medical devices, consumer awareness programs, and government initiatives are the key factors that drive the development of the medical specialty bags market worldwide.
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Medical Specialty Bags Market - The Driving Forces
The main factors for the growth of the medical specialty bags market are a rise in the number of hospitals in developing economies, heightened demand for medical specialty bags due to rapidly aging population, lenient FDA approvals for class 1 medical devices, and reimbursement options, which encourage patients to undergo expensive treatments. However, the restraints in the growth of the medical specialty bags market are the presence of alternative medical procedures and lack of awareness about medical conditions and disorders. Additionally, poor awareness of diseases also lessens the number of medical procedures, limiting the demand for medical specialty bags.
The market for medical specialty bags has opportunities in the improving healthcare sectors in developing economies. This factor is expected to add to the numbers of healthcare procedures and benefit the market, while a higher number of chronic diseases would also add significantly to market growth.
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Medical Specialty Bags - Product Segment Analysis
According to product type, the medical specialty bags market is segmented into enteral feeding bags, bile collection bags, blood bags, resuscitation bags, cadaver bags, continuous ambulatory peritoneal dialysis (CAPD) bags, enema bags, intravenous fluid bags, urinary collection bags, anesthesia breathing bags, ostomy collection bags, and ice bags.
As of 2013, ostomy collection bags contributed for the largest share in the medical specialty bags market due to the persistence of chronic diseases such as ulcerative colitis and Crohn’s disease. Growing number of geriatrics, the rise in the number of consumer awareness programs, and increasing disposable income of customers are also contributors to the growth of the market for medical specialty bags.
However, intravenous fluid bags comprised the largest share in the medical specialty bags market in terms of volume. Extensive usage of these bags in healthcare procedures, their effectiveness in speedy nutrition delivery, and convenience are the main factors that are driving the demand for these bags globally. Blood bags are reported as being the fastest emerging category in the market, from the standpoint of both revenue and volume.
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Geographical Segmentation of Medical Specialty Bags Market
Geographically, the global market for medical specialty bags is segregated into four regions: North America, Europe, Asia Pacific, and Rest of the World. The market leader for medical specialty bags in 2013 was North America. Increasing frequencies of diseases, rising incidences of obesity and related disorders, consumer-friendly reimbursement policies, approval of innovative products, and definite infrastructure investments that support healthcare facilities in North America were the key factors that it to reach the top.
The development of countries in the Asia Pacific region has led to the speedy growth of medical infrastructure, increased disposable income, awareness about diseases and medical conditions. Furthermore, the demand for a healthy lifestyle has resulted in increased healthcare procedures, leading to a rise in the demand for medical specialty bags. Coupled with these factors, strong economic growth in Asian countries such as China, Philippines, India, and Singapore as well as Australia make Asia-Pacific the most opportunity-rich market for medical specialty bags during 2014 to 2020.
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Medical Specialty Bags Market – The Leading Names
Braun Melsungen AG, Fresenius SE & Co. KGaA, Nolato AB, Smiths Medical, Baxter International, Inc., Coloplast A/S, Medline Industries Inc., Hollister Incorporated, ConvaTec, Inc., Terumo Corporation, and Macopharma SA are the major producers of medical specialty bags.
The global medical specialty bags market is estimated to reach US$10.31 billion by the end of 2020.

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