Authored By: Sarah
22 Mar 2021

Technavio has been monitoring the medical specialty bags market and it is expected to grow by $ 2.81 billion, accelerating at a CAGR of over 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report

Medical Specialty Bags Market: Emerging Trends to Impact Market Growth

This increasing focus on the use of eco-friendly materials to manufacture medical specialty bags will positively impact the growth of the market in the coming years. The adverse impact of DEHP-PVC medical bags on human health and the environment has resulted in the development of PVC-free medical bags. Several public and private organizations are promoting the use of eco-friendly materials in medical disposables to ensure the safety of the caregiver and patient and protect the environment from pollution caused by PVC manufacturing and disposal. Vendors are also offering flushable and biodegradable pouch liners to reduce the amount of garbage produced during ostomy procedures.

Medical Specialty Bags Market Size to Grow by over $ 2.81 Billion through 2021-2025 | Forecast and Trend Analysis

The increasing number of surgical, dialysis, and blood transfusion procedures will boost the demand for various types of medical specialty bags. The rising demand for ostomy procedures to treat colorectal cancer, IBD, and diverticulitis will increase the demand for ostomy bags. CAPD bags are used in the treatment of patients suffering from chronic renal failure. The need for blood bags is also high because of the high prevalence of surgeries requiring blood transfusions. Similarly, significant operations on the heart, joints, and laparoscopic operations on the abdomen require the use of anesthesia and resuscitation bags. All these factors are likely to drive the growth of the medical specialty bags market during the forecast period.

Medical Specialty Bags Market: Vendor Analysis

Medical Specialty Bags Market Size to Grow by over $ 2.81 Billion through 2021-2025 | Forecast and Trend Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Ambu AS, B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Co., Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Fresenius Medical Care AG & Co. KGaA, Hollister Inc., and Terumo Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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