Global Urinary Drainage Bags Market Became a Highly Profitable Industry: Revenue Analysis and Industry Forecast, 2016-2022

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NOTE: COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. The ongoing research amplifies the research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. The report delivers insights on COVID-19 considering the changes in consumer behaviour and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.

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Global Urinary Drainage Bags Market is valued approximately at USD 1.8 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.4% over the forecast period 2021-2027. The global Urinary Drainage Bags market is being driven by rising prevalence of urologic diseases, increase in geriatric population, and increase in demand for homecare services. Furthermore, the presence of E-commerce platform and increase in the initiatives to raise incontinence awareness worldwide will provide new opportunities for the global Urinary Drainage Bags industry. For instance, according to World Health Organization, the global population of age group of above 60 is expected to rise from 7% in 2000 to 16.0% in 2050. As per a study by BMC Geriatrics journal, in Egypt, in year 2020, the rising prevalence of incontinence among elder women is anticipated at around 80%. According to the report of Phoenix Physical Therapy, in year 2020, around 200 million people were suffering from UI worldwide. As a result, increase in geriatric population and urological dysfunctions will serve as a catalyst for the Urinary Drainage Bags industry in the future. However, growing concerns regarding catheter associated urinary tract infection (CAUTI) may impede market growth over the forecast period of 2021-2027.
Rising incidence of targeted diseases, such as UI, bladder obstruction, urinary retention, Benign Prostate Hyperplasia (BPH), and bladder cancer makes North America is the leading region across the world in terms of market share. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to the increasing prevalence of BPH, spinal cord injury, and UTI in the region.

Major market player included in this report are:
ConvaTec Inc., Cardinal Health, Teleflex Incorporated, Coloplast, BD (C. R. Bard), McKesson Medical-Surgical Inc., Amsino International, Inc., Flexicare Medical Limited, Medline Industries, Inc., Manfred sauer gmbh.
By Product Type:
a) Large bags
b) Leg bags
By Capacity:
a) 0-500 ml
b) 500-1000 ml
c) 1000-2000 ml
By Usage:
a) Reusable
b) Disposable
By Region:
North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico, Rest of the World.

Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Urinary Drainage Bags Market in Market Study:
a) Key Consulting Companies & Advisors
b) Large, medium-sized, and small enterprises
c) Venture capitalists
d) Value-Added Resellers (VARs)
e) Third-party knowledge providers
f) Investment bankers
g) Investors

How will this Market Intelligence Report Benefit You?
a) It offers an analysis of changing competitive scenario.
b) For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies.
c) It offers seven-year assessment of Global Urinary Drainage Bags Market.
d) It helps in understanding the major key product segments.
e) Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
f) The report tracks the leading market players that will shape and impact the market most.
g) The data analysis present in this report is based on the combination of both primary and secondary resources.
h) The report helps you to understand the real effects of key market drivers or restrainers on business.

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Key highlights from Covid-19 impact assessment:
1. Economic consequences of the pandemic
2. Supply and demand shocks
3. Industry remuneration scope during and post the pandemic

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