Medical Specialty Bags Market, By Product (Ostomy Collection Bags, Intravenous (IV) Fluid bags, Continuous Ambulatory Peritoneal Dialysis (CAPD) Bags, Resuscitation Bags, Urinary Collection Bags, Sterile Packaging Bags, Anesthesia Breathing Bags, Cadaver (Body) Bags, Blood Bags, Enema Bags, Enteral Feeding Bags, Bile Collection Bags, Ice Bags), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Sep 2020

Code : CMI509

Pages :175

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Medical Specialty Bags Market: Drivers

High prevalence of high blood pressure is expected to propel growth of the global medical specialty bags market over the forecast period. For instance, according to a cross-sectional, population-based study, ‘Diabetes and Hypertension in India: A Nationally Representative Study of 1.3 Million Adults’, published in JAMA Internal Medicine in March 2018, the crude prevalence of hypertension in India was 25.3% between 2012 and 2014.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Global Medical Specialty Bags Market: Restraints

Issues with bedside scans of certain large-volume parenteral infusion bags for product identification purposes is expected to hinder growth of the global medical specialty bags market.

Moreover, sale of counterfeit medical specialty bags is also expected to limit the market growth.

Global Medical Specialty Bags Market: Opportunities

Increasing focus on plastic-free products is expected to offer lucrative growth opportunities for players in the global medical specialty bags market. For instance, in October 2019, HLL Lifecare Limited launched a “Plastic free HLL” campaign in connection with the ‘Swachhata hi Seva’ (Cleanliness is Service) campaign launched by the Government of India

Moreover, increasing funding for R&D of new products is also expected to aid in growth of the global medical specialty bags market. For instance, in January 2019, Ostique, a startup company focused on developing products that are more convenient from the traditional ostomy bags, received around US$ 340,000 from Innovate UK, the U.K.’s innovation agency.