As per Future Market Insights, the bile collection bags market is anticipated to attain a value pool of US$ 35 Billion by 2022-end. Over the projected timeframe from 2022 to 2032, a CAGR of 5.5% is projected for the market for bile collecting bags. By the end of the assessment period, the global market is forecasted to reach a market valuation of US$ 60 Billion.
Bile collecting bags are primarily utilised in the bile drainage procedure. Bile drainage is inserting a catheter into the liver to remove bile juice. Bile collecting bags, which are often composed of plastic and elastomers, are used in diagnostic centres and pathology labs.
Aside from bile juice, they are also utilised to collect stomach secretions. The market for bile collection bags is likely to expand over the forecast period due to the increased frequency of liver-related illnesses. The worldwide bile collecting bag market is likely to rise as laparoscopic cholecystectomy becomes more popular.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 35 Billion |
| Projected Market Value in 2032 | US$ 60 Billion |
| Growth Rate (2022 to 2032) | 5.5% CAGR |
Because the frequency of chronic illnesses is increasing globally, the global bile collection bags market is likely to be driven by strong demand in surgical operations. Bile collection bags make it easier to collect bile and other gastric secretions, which is expected to boost global market demand.
Furthermore, the growing elderly population throughout the world is driving up demand for bile collecting bags. Furthermore, the governments of emerging nations are offering simple access to bile collection bags, which is projected to open up new business potential for the global bile collection bags market.
The expansion of the worldwide bile collecting bags market is likely to be restricted by an increased danger of cross contamination, as well as tight government restrictions addressing the efficacy and safety of these bags.
High healthcare device taxes are also projected to limit the growth of the global bile collecting bags market. The use of environmentally friendly raw materials is projected to offer up new avenues of business expansion for the global bile collecting bags market.
Due to increased technological advances among healthcare institutions in the area, the Asia Pacific bile collecting bags market is estimated to rise at the fastest CAGR during the forecast period. The APAC region's economy, India, has a large incidence of liver-related illnesses; hence bile collecting bags are predicted to be in high demand.
Hyupsung Medical Co., Ltd., C. R. Bard, Inc., Medline Industries, Inc., Baxter International Inc., Fresenius Medical Care AG & Co., and Redax are among the prominent players in the worldwide bile collection bags market.
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Bile collection bags are mainly used for the process of bile drainage. Bile drainage involves the insertion of a tube in the liver to extract the bile juice. Bile collection bags are used across diagnostic centres and pathology labs and are usually made of plastic and elastomers.
Apart from the bile juice, they are also used for the collection of gastric secretions. Bile collection bags market is expected to grow over the forecast period due to rising prevalence of liver related disorders. The growth of the global bile collection bags is also expected to expand due to growing demand for laparoscopic cholecystectomy.
Since there is a rising prevalence of chronic diseases worldwide, the global bile collection bags market is expected to be driven by the high demand in surgical procedures. Bile collection bags facilitate the easy collection of bile and other gastric secretions which is further anticipated to bolster the demand of the global market.
Additionally, the increase in the geriatric population globally is also leading to surging demand for bile collection bags market. Moreover, the government of emerging economies is providing the facility of an easy access to the bile collection bags which is expected to open up new market opportunities for growth of the global bile collection bags market.
The growth of the global bile collection bags market is hampered by an increased risk of cross contamination and strict government regulations concerning the efficacy and safety of these bags is expected to hamper the growth of the global bile collection bags market.
High taxation on the healthcare devices is also expected to restrain the growth of the global bile collection bags market. Use of raw materials that are rendered safe for environment is expected to open up new avenues of market growth for the global bile collection bags market.
Principal Consultant
The global bile collection bags market is segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America is expected to lead the global bile collection bags market attributed to a well-established healthcare industry along with a health concerned population base.
Asia Pacific bile collection bags market is expected to expand at the highest CAGR over the forecast period due to rising technological innovations among the healthcare organizations in the region. Economy like India in the APAC region represents a high number of liver related disorders wherein the bile collection bags are expected to find their maximum consumption.
Europe bile collection bags market is expected to witness moderate growth over the forecast period. The region is expected to grow at a slow pace as compared to Asia Pacific due to down turning economy in certain regions. Middle East & Africa is expected to witness sluggish growth due to comparatively low GDP and a low percentage of healthcare expenditure.
Some of the key players operating in the global bile collection bags market are Hyupsung Medical Co., Ltd., C. R. Bard, Inc., Medline Industries, Inc., Baxter International Inc., Fresenius Medical Care AG & Co., and Redax.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global Bile Collection Bags market is segmented on the basis of capacity, material type, end use, and geography.
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