Medical Specialty Bags Market - Great Potential For Safe Growth And Returns Over The Long Run

Medical specialty bags provide assistance in curbing disorders that originate from medical conditions such as bowel incontinence, bile leakage and others. Growth of the medical specialty bags market is driven by key factors such as global aging population, less stringent FDA regulations for class I medical devices, increasing global healthcare-related consumer spending, and consumer awareness programs and government initiatives.

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On the basis of product, the medical specialty bags market is categorized into bile collection bags, continuous ambulatory peritoneal dialysis bags, enteral feeding bags, ostomy collection bags, urinary collection bags, blood bags, enema bags, anesthesia breathing bags, intravenous fluid/infusion bags, resuscitation bags, and others including cadaver bags and ice bags. By revenue, ostomy collection bags dominated the medical specialty bags market in 2013 owing to rise in aging population, surge in disposable income of patients, increasing customer awareness programs, and growing prevalence of chronic diseases such as ulcerative colitis and Crohn’s disease.

By volume, intravenous fluid bags led the overall medical specialty bags market in 2013 owing to efficacy and convenience in rapid nutrition delivery and extensive use of these bags in healthcare procedures. Blood bags, on the other hand, are projected to form the most rapidly developing product segment by 2020. Introduction of PVC-free blood bags and surge in blood infusion emergencies is likely to fuel this segment of the medical specialty bags market.

On the basis of geography, the global medical specialty bags market is segmented into Europe, North America, Asia Pacific, and Rest of the World. North America has emerged as the leading regional segment owing to growing prevalence of obesity and related diseases, availability of reimbursement policies, well-defined healthcare infrastructure, rising investments in healthcare facilities, and rapid adoption of innovative products. Asia Pacific, on the other hand, has been identified as the most lucrative market for medical specialty bags, particularly due to favorable economic conditions in countries such as China, Philippines, India, Singapore, and Australia. Strong economic growth has translated to rise in disposable income, rapid development of medical infrastructure, and increased awareness regarding overall health and well-being. This has had a positive impact on the medical specialty bags market.

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Terumo Corporation, Macopharma SA, Fresenius SE & Co. KGaA, Medline Industries, Inc., Baxter International, Inc., Smiths Medical, Nolato AB, Coloplast A/S, B.Braun Melsungen AG, ConvaTec, Inc., and Hollister Incorporated are some of the notable players competing in the global medical specialty bags market. These players are profiled in the research report based on parameters such as company overview, product portfolio, recent developments, business strategies, and financial performance.

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