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Urinary Drainage Bags Market Key Trends And Competitor Analysis Report 2024-2033
Urinary Drainage Bags Market Size
According to The Business Research Company's, The urinary drainage bags market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to cost-effectiveness, home healthcare and long-term car, patient comfort and mobility, regulatory standards and quality control, improved materials and design, chronic health conditions..
The urinary drainage bags market size is expected to see strong growth in the next few years. It will grow to $2.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to aging population dynamics, shift towards home healthcare, increasing patient awareness, shift towards disposable solutions, economic considerations.. Major trends in the forecast period include advancements in material technology, patient-centric design, miniaturization and portability, integration of smart technologies, customization and personalization, environmentally sustainable solutions..
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Market Drivers and Trends:
Rising prevalence of urologic diseases is expected to propel the growth of urinary drainage bags market going forward. Urologic illnesses are a set of medical ailments that affect the anatomy or function of the kidneys, ureters, and bladder. Urinary drainage bags are commonly used by people suffering from urologic diseases such as urinary incontinence (leakage) and urinary retention (inability to urinate), as they facilitate urine collection from the bladder by inserting a catheter or sheath into the patient's bladder to provide a clean, safe, and easy solution for urine drainage and to reduce the risk of urinary tract infection. For instance, according to the Mayo Clinic Health Systems report in November 2022, a US-based healthcare company, urine incontinence or involuntary urine leaking is a frequent ailment that affects 50% of adult females. The prevalence of this disease rises with age, with up to 75% of women over 65 reporting urine leakage. Furthermore, in 2022, according to the American Cancer Society's report, a US-based voluntary health organization dedicated to cancer, there will be around 81,180 new cases of bladder cancer per year (about 61,700 in men and 19,480 in women) and around 17,100 fatalities (about 12,120 in men and 4,980 in women). Therefore, the rising prevalence of urologic diseases is driving the growth of the urinary drainage bags market.
Product innovation is a key trend in the urinary drainage bags market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in December 2021, Otsuka Pharmaceutical Co. Ltd., a Japan-based pharmaceutical company, launched Actreen, a medical device consisting of an intermittent urological catheter and urine collection bag. Actreen is a single-use catheter made up of a catheter (tube) and a connection that can be used during self-catheterization in people who have lost the desire to urinate or who have difficulties urinating normally. The catheter's surface is coated with a hydrophilic lubricant, allowing it to be used immediately after opening. It also provides a product with an integrated urine collection bag for simple urine drainage.
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Major Key Players of the Market:
Convatec Group; Cardinal Health Inc; Teleflex Incorporated; Coloplast A/S; Becton Dickinson and Company; McKesson Medical Surgical; Amsino International Inc; Flexicare Medical Ltd; Medline Industries LP; Sauer Manfred GmbH; Cook Group Incorporated; Covidien; Pacific Hospital Supply Co Ltd; Plasti-med Plastic Medical Products; Hollister Incorporated; B. Braun Melsungen AG; Boston Scientific Corporation; Medtronic plc; Smiths Medical; Jiangsu Kangjin Medical Instrument Co. Ltd.; Manfred Sauer GmbH; Clinisupplies Ltd.; Urotech; Hollister Incorporated; Urocare Products Inc.; Urovision GmbH; Luminor Medical Technologies Inc.; Cogentix Medical; Bard Medical; Sterimed Medical Devices Private Limited
Urinary Drainage Bags Market 2024 Key Insights:
• The urinary drainage bags market will grow to $2.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• The Rising Prevalence Of Urologic Diseases Boosting The Urinary Drainage Bags Market
• Product Innovations In Urinary Drainage Bags Market
• North America was the largest region in the urinary drainage bags market in 2023
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