Medical specialty bags are special bags used for medical purposes. With the advancement in technology, the market is projected to boost in the next six years. Factors driving the market are increasing patient awareness, rising number of old age (65 years and above) people and escalating demand for customer focused products/services. Increasing geriatric population base is expected to serves as a major factor driving the market because probability of being prone to diseases such as urinary incontinence is high among old people above 65 years of age. Thus, increasing need for proper management and special care driving the need for excellent medical care. Ostomy collection bags are useful for prevalence of incontinence and it is expected to drive market for these bags with the rise in number of old age people. Specialty bags are mostly used for surgical processes such as laparoscopic surgical processes, urinary surgical procedures, etc and the demand for surgeries is expanding due to increasing frequencies of chronic diseases and rise in number of incidents. Cost effectiveness, easy availability of products and uniformly laid reimbursement policies makes the product more attracting, flexible and economical for end users. Medical standards and facilities are improving, with the development in technological trend and customers are becoming more concerned towards hygiene and health issues. These features are also influencing and improving medical specialty bag market growth. Governments also play a crucial role in growth of medical specialty bag market. They facilitate demand for medical specialty bag market by setting competitive prices, investing in health infrastructure, encouraging research and development, designing enhanced reimbursement packages and increasing level of awareness.
Medical specialty bag market is broadly classified on the basis of type of product. Varieties of product include anesthesia breathing bags, urinary collection bags, bile collection bags, sterile packaging bags, blood bags, ostomy collection bags, enteral feeding bags, cadaver bags, resuscitation bags, continuous ambulatory peritoneal dialysis (CAPD) bags, intravenous fluid bags, enema bags and ice bags market. Intravenous fluid bags are further segmented into PVC material based fluid bags and Non- PVC material based fluid bags. Resuscitation bags are also categorized into disposable bags and reusable bags. Ostomy collection bags are divided into single use bags and multiple use bags. In 2011, ostomy collection bags dominated market in terms of revenue shares among all the product types. The bile collection bags segment is expected to grow at one of the fastest CAGR due to increasing demand for laparoscopic cholecystectomy. Moreover, demand is expected to shift more towards non-PVC material based fluid bags in next six years due to increasing environment impacts associated with use of PVC bases fluid bags.
Medical specialty bags are widely used in healthcare institutions and hospitals. Other user of medical specialty bags that constitutes niche market includes SurgiCenters and home healthcare. Hospitals and medical centers account the largest share in global medical specialty bag market and will continue to lead market. While other small non - hospital players like SurgiCenters will drive the market growth due to increasing demand and awareness among customers. Theses bags are majorly used for surgeries in hospitals.
The geographic division of market constitutes of North America, Rest of World, Europe and Asia Pacific. In 2011, North America covered majority of shares of market. Key Reason for ruling the market was U.S. where rapid rise in awareness level among people and development in economies changed the technological trends. Currently, Europe is projected to lead the market of medical specialty bags. Other region like Asia pacific is expected to rise at a faster rate over next six years.
The key players in medical specialty bags industry are Hollister Incorporated, B Braun Medical, Terumo Corporation, Coloplast A/S, Pall Corporation, Terumo Corporation, C.R. Bard Inc., Kawasumi Laboratories Inc, Fresenius Medical Care AG & Co., Baxter International Inc., Convatec Inc., Maco Pharma and Westfield Medical Ltd.