Growing public awareness of the value of medical hygiene, particularly in the wake of the pandemic, is also driving the size of the medical specialty bag market.
WILMINGTON, Del., July 16, 2024 /PRNewswire/ -- The global medical specialty bags market was projected to attain US$ 8.9 billion in 2023. It is anticipated to garner a 5.5% CAGR from 2024 to 2032 and by 2032, the market is likely to attain US$ 14.3 billion [https://www.transparencymarketresearch.com/medical-specialty-bags-market.html]. Medicinal specialty pouches are widely utilized in hospitals, clinics, and home care settings across the world due to their sterility, simplicity, and mobility.
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Current market trends for medical specialty bags point to a change in emphasis toward creating biobased and sustainable materials to lower carbon emissions and enhance patient safety. Continuous research and development in bag design and material, such as adding safety features and anti-microbial sealants, helps improve durability and reduce contamination and leakage.
Innovative technologies like RFID tracking sensors and real-time monitoring systems improve patient outcomes and simplify operations in healthcare institutions.
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Key Findings of the Market Report
-- The number of chronic illness cases is rising due to several variables,
including an aging population, growing environmental concerns, adopting
an unhealthy contemporary lifestyle, and previous genetic
predispositions.
-- People may easily get diagnostic tests and screenings because of ongoing
advancements in medical science in both research and healthcare
technology.
-- Compared to earlier decades, this is causing a spike in identifying and
diagnosing chronic diseases and unusual ailments.
-- Patients with chronic diseases can get medicine and necessary fluids or
nutrients more safely and reliably when they use clinical specialty
satchels.
-- These bags provide long-term support and care management, reduce the
possibility of contamination, and allow for the accurate administration
of doses during procedures.
Market Trends for Medical Specialty Bags
-- In healthcare and caregiving, medical hygiene refers to methods and
procedures that aid in the containment of infections and preserve
sterility.
-- Since the start of the COVID-19 pandemic, there has been a notable
increase in public health awareness and the significance of maintaining
cleanliness in healthcare institutions.
-- Medical specialty pouches provide a hygienic, single-use option for
storing medications and essential fluids, lowering the possibility of
contamination or infection spread.
-- By including characteristics like biodegradable materials and leak-proof
sealants, medical specialty bags increase market prospects by making
healthcare professionals' jobs easier.
Global Market for Medical Specialty Bags: Regional Outlook
-- In terms of market share for medical specialty bags, North America led
the way in 2023. A strong healthcare infrastructure, increased demand
for sophisticated medical treatment, and an extensive distribution
network contribute to the region's market value.
-- According to Canadian Blood Services, approximately 400,000 individuals
in Canada routinely donate blood. Blood bags are thus required as a
result of this. The National Renal Foundation projects that by 2030,
over a million people will experience renal failure, necessitating the
use of dialysis bags.
-- According to industry insights, the medical specialty bag market is
expected to develop steadily in Asia Pacific between 2024 and 2032.
Improved access to healthcare facilities in growing economies such as
China and India, increasing urbanization, and an increase in
post-operative problems all contribute to market figures in the
developing world.
Medical Specialty Bags Market Report Scope:
Report Coverage Details Forecast Period 2024-2032 Base Year 2019-2023 Size in 2023 US$ 8.9 Bn Forecast (Value) in 2032 US$ 14.3 Bn Growth Rate (CAGR) 5.5 % No. of Pages 150 Pages Segments covered By Product Type, By Material Type, By Application, By Region
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Global Medical Specialty Bags Market: Key Players
Market players in the global medical specialty bag market are developing customized bags for healthcare and clinical specialist sacks to meet changing government regulations and medical safety requirements.
Key companies in the industry use regional development, mergers and acquisitions, and research collaborations with other entities as essential strategies to broaden their product offerings and connect with younger consumers. The following companies are well-known participants in the global medical specialty bags market:
-- Baxter International Inc.
-- B. Braun Medical Inc.
-- Technoflex S.A
-- Fresenius SE & Co KGaA
-- Sippex
-- Polycine GmbH
-- Kraton Corporation
-- The Metrix Company
-- Medicopack A/S
-- Macopharma SA
-- Haemotronic S.p.A
-- Otsuka Pharmaceutical Factory Inc.
Key developments by the players in this market are:
-- Vonco goods LLC, a well-known maker of plastic goods and packaging,
declared in April 2023 that had acquired Genesis Plastics Welding, a
major developer of medical equipment. With the purchase, Vonco is able
to concentrate on quality and innovation while diversifying its product
line to include medical bags, specialized pouches, and fluid bags.
-- Leading medication and therapeutics firm Gufic Biosciences presented a
unique drug delivery system in June 2022. The system consists of
dual-chamber bags made of peel-able aluminum foil and polypropylene
(free of DEHP). These specially made bags for healthcare guarantee the
safe storage of unstable medications, which may be reformed before being
administered.
Global Medical Specialty Bags Market Segmentation
Product Type
-- Anesthesia Breathing Bags
-- Bile Collection Bags
-- Ostomy Bags
-- Resuscitation Bags
-- Blood Bags
-- CAPD Bags
-- Enema Bags
-- Enteral Feeding Bags
-- IV Bags
-- Urinary Collection Bags
-- Others
Material Type
-- Polypropylene (PP)
-- Polyethylene (PE)
-- Polyvinyl Chloride (PVC)
-- Others
End User
-- Hospitals
-- Blood Banks
-- Pharmaceuticals
Region
-- North America
-- Latin America
-- Europe
-- Asia Pacific
-- The Middle East & Africa
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