The medical specialty bag market is expected to be valued at USD 6.0 billion in 2024. The market is expected to reach USD 9.4 billion by 2034, developing at a CAGR of 4.7%.
Medical Specialty Bag Market Trend Analysis
Continuous materials, designs, and manufacturing innovations have resulted in more advanced and efficient specialty bags. Innovative technologies integrated into bags for monitoring, tracking, and dosage accuracy are becoming prevalent.
Attributes | Key Insights |
---|---|
Medical Specialty Bag Market Estimated Size in 2024 | USD 6.0 billion |
Projected Market Value in 2034 | USD 9.4 billion |
Value-based CAGR from 2024 to 2034 | 4.7% |
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According to Future Market Insights, the global demand for medical specialty bags experienced a CAGR of 5.1% during the historic period from 2019 to 2023. Total market valuation increased from USD 4.7 billion in 2019 to USD 5.7 billion at the end 2023.
The medical specialty bag market will likely continue to evolve in response to technological advancements, changing healthcare needs, and regulatory developments. The growing emphasis on patient comfort, safety, and convenience in designing and manufacturing specialty bags was evident, especially for individuals requiring long-term care or managing chronic conditions.
For the forecast period from 2024 and 2034, the worldwide medical specialty bag industry is forecast to witness a robust CAGR of 4.7% taking total valuation to USD 9.4 billion by the end of 2034.
Historical CAGR from 2019 to 2023 | 5.1% |
---|---|
Forecast CAGR from 2024 to 2034 | 4.7% |
Forecast CAGRs from 2024 to 2034
Germany | 2.6% |
---|---|
Japan | 3.9% |
The United States | 3.1% |
China | 6.4% |
The United Kingdom | 4.8% |
The medical specialty bags market in the United States experiencing steady growth due to factors such as an aging population, high prevalence of chronic diseases, technological advancements, and an increasing focus on home healthcare. The United States medical specialty bag market is anticipated to witness a CAGR of 3.1% by the end of 2034.
The increasing demand for various medical specialty bags, including intravenous (IV) bags, ostomy bags, blood bags, enteral feeding bags, urinary collection bags, etc., constituted different market segments.
Factors such as the rise in surgical procedures, increased demand for disposable medical products, emphasis on infection control measures, and a shift towards home-based healthcare drove the need for medical specialty bags in the United States.
A well-developed healthcare system and a robust medical devices market contribute to a strong demand for various medical supplies, including specialty bags, in Germany. The need for medical devices like IV bags, ostomy bags, enteral feeding bags, and urinary collection bags is high in Germany owing to the increased prevalence of chronic diseases and higher healthcare spending.
The presence of manufacturers and multinational companies actively supplying a range of medical bags to hospitals, clinics, and healthcare facilities across the country boosts the market demand. The medical specialty bag market in Germany is anticipated to witness a CAGR of 2.6% during the forecast period.
Increasing healthcare expenditure and ongoing healthcare reforms expanded the medical devices sector, drive the demand for medical specialty bag in China. The medical specialty bag market in China is anticipated to witness a CAGR of 6.4% during the forecast period.
The growing efforts in China to enhance healthcare infrastructure, especially in tier-2 and tier-3 cities, were leading to increased accessibility to advanced medical products, thereby fueling market growth.
Government initiatives aimed at improving healthcare services, regulatory reforms, and encouraging domestic manufacturing supported the medical devices market growth, including medical specialty bags.
Ongoing advancements in healthcare technology and increasing emphasis on patient comfort, safety, and convenience in the design and manufacturing of specialty bags, especially for individuals requiring long-term care or managing chronic conditions, fuel the medical specialty bag market in the United Kingdom. The medical specialty bag market in the United Kingdom is anticipated to witness a CAGR of 4.8% during the forecast period.
The growing trend toward home healthcare in the United Kingdom is driving the demand for portable, easy-to-use specialty bags suitable for use outside clinical settings. The need for medical devices like IV bags, ostomy bags, enteral feeding bags, and urinary collection bags is increasing in the country.
A well-established healthcare system and a rapidly aging population in Japan are driving the demand for various medical devices and consumables, including specialty bags in the country. The growing aging population and increased prevalence of chronic diseases consequently boost the need for medical devices, such as IV bags, ostomy bags, and urinary collection bags.
The strong emphasis on technological innovation and advancements in healthcare was driving the development of more advanced, efficient, and user-friendly medical specialty bags. The medical specialty bag market in Japan is anticipated to witness a CAGR of 3.9% between 2024 and 2034.
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According to market forecasts, the IV bag segment will dominate until 2034, with a market share of 34.7%. The polyethylene segment is expected to have a share of 37.8% in 2024
Category | Market share in 2024 |
---|---|
IV Bag | 34.7% |
Polythene | 37.8% |
IV bag are used extensively for fluid administration, delivering essential fluids, electrolytes, and medications directly into the bloodstream. They provide a quick and efficient way to deliver these substances to patients who are unable to take medications orally or need immediate hydration. The IV bags segment sales accounted for the highest share of 34.7% in 2024.
In emergency and critical care settings, IV therapy is crucial for rapid medication delivery and resuscitation. IV bags allow healthcare professionals to administer life-saving drugs and fluids promptly.
The polyethylene segment sales is likely to account for the highest share of 37.8% in 2024. Polyethylene is highly flexible, allowing the production of bags to be easily molded into various shapes and sizes.
This flexibility makes it suitable for different types of medical bags used for fluid storage, collection, and delivery. Polyethylene exhibits resistance to many chemicals, making it ideal for storing a wide range of fluids, medications, and biological materials without degradation or contamination
Key manufacturers of medical specialty bags are focused on increasing their sales and revenues by introducing new innovative medicinal packaging solutions with different capacities.
They are also adopting a wide array of strategies such as mergers, partnerships, joint ventures, acquisitions, collaborations, research and development activities, and facility expansion to strengthen their presence in the global market.
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 6.0 billion |
Projected Market Valuation in 2034 | USD 9.4 billion |
Value-based CAGR 2024 to 2034 | 4.7% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD million |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Bag Type, Material, End User, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | Hollister Incorporated; B Braun Medical; Terumo Corporation; Coloplast A/S; Pall Corporation; C.R. Bard Inc.; Kawasumi Laboratories Inc.; Fresenius Medical Care AG & Co.; Baxter International Inc.; Convatec Inc. |
As of 2024, the market for medical specialty bags is expected to be valued at USD 6.0 billion.
By 2034, the market value of medical specialty bag is expected to reach USD 9.4 billion.
From 2024 to 2034, medical specialty bag sales are expected to flourish at a CAGR of 4.7%
The polythene material segment will account for a market share of 37.8 in 2023.
China is likely the top-performing market in the medical specialty bag industry.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Anaesthesia Breathing Bag 5.2. Urinary Collection Bag 5.3. Bile Collection Bag 5.4. Sterile Packaging Bag 5.5. Blood Bag 5.6. Ostomy Collection Bag 5.6.1. Single-use Bag 5.6.2. Multiple-use Bag 5.7. Enteral Feeding Bag 5.8. Cadaver Bag 5.9. Resuscitation Bag 5.9.1. Disposable Bag 5.9.2. Reusable Bag 5.10. Continuous Ambulatory Peritoneal Dialysis (CAPD) Bag 5.10.1. PVC Material-based Fluid Bag 5.10.2. Non-PVC Material-based Fluid Bag 5.11. Intravenous Fluid Bag 5.12. Enema Bag 5.13. Ice Bag 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 6.1. North America 6.2. Latin America 6.3. Western Europe 6.4. Eastern Europe 6.5. South Asia and Pacific 6.6. East Asia 6.7. Middle East and Africa 7. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Hollister Incorporated 16.2. B Braun Medical 16.3. Terumo Corporation 16.4. Coloplast A/S 16.5. Pall Corporation 16.6. C.R. Bard Inc 16.7. Kawasumi Laboratories Inc 16.8. Fresenius Medical Care AG & Co 16.9. Baxter International Inc 16.10. Convatec Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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