Medical Specialty Bags Market Size

Medical Specialty Bags Market Insights

Medical Specialty Bags Market size was valued at USD 10.24 Billion in 2023 and is poised to grow from USD 10.7 Billion in 2024 to USD 15.22 Billion by 2032, growing at a CAGR of 4.50% during the forecast period (2025-2032).

The geriatric population and the increasing incidence of acute diseases, including bladder cancer and other diseases associated with the bladder, are the main reasons for this growth. According to the American Cancer Society, nearly 90% of cases of bladder cancer take place in individuals older than 55 years. In this regard, this disease is prevalent in elderly patients. The mean age at diagnosis is 73. With a possible 1 in 28, men are also known to develop bladder cancer compared to females whose risk is about 1 in 89 throughout their life. Bags of medical specialty can be used to keep the environment around the affected part to be clean and safe. They are used in storing and delivering different fluids, drugs, and nutrients to the patients. Some of the primary uses of the medical bag include feeding through the gastrointestinal tract, collection of bile, storage of blood, and sterile packing. Medical bags can contain leaking bile and incontinence of the bowel. WHO estimated that there are 120 million units of blood donation annually, and blood bags are used for the storage and transfusion of blood. Blood, urine, ostomy, intravenous (IV), and enteral bags come in a variety of sizes and shapes but are made of rubber, latex, and plastic.

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This is one of the most competitive industries and dominated by specialist regional businesses and established global companies. Major corporations in this market include Hollister Incorporated, Coloplast, and Baxter International, with large product portfolios and strong R&D capabilities that lend a dominant position. The drivers of competition are innovation in materials and technology, regulations, and cost effectiveness. New entrants and niche firms, moreover, who focus on specialized or advanced products, characterize the market dynamics. 'B. Braun SE ', 'Baxter ', 'Medline Industries ', 'Coloplast A/S ', 'Convatec Inc. ', 'Owens & Minor ', '3M ', 'Fresenius Medical Care AG ', 'Berry Global ', 'Hollister Incorporated ', 'Cardinal Health ', 'Macopharma ', 'Pall Corporation ', 'Terumo Corporation ', 'Sealed Air ', 'Festo ', 'Sartorius ', 'Uflex ', 'Thermo Fisher Scientific ', 'Kuraray'

The increasing geriatric population increases the demand for specialty medical bags. Old people have health conditions related to aging and chronic diseases, which compel them to continue consulting the specialists. The attack of any of these chronic illnesses related to aging increase since longevity is on the rise. The demand to increase the need for home healthcare services in old people opting to take the treatment at home instead of in institutions is pressured by this choice. In this respect, the resultant demand for different specialist bags designed for home and hospital use increases the market growth in totality.

In-Home Medical Care is on the Rise: This trend in home healthcare poses several challenges for the medical specialty bags market. Older populations and increased chronic diseases necessitate growing demands for more care at home rather than through institutional environments. The demand for specialized bags to be used at home, such as for wound care and ostomy management and infusion treatment, is, therefore, supported by this trend. Other trends gaining popularity include disposable options and friendly designs. This trend is just in line with broader health care objectives that revolve around patient comfort and methods of care that are more affordable, for which reason the home health care market is booming.

As of 2023, the North American market accounted for 27.85% of the total medical specialty bags market. North America's robust and developed health care system and higher adoption rate are contributions driving the market. Pharmaceutical companies operating within this region continue to invest in resources in the development of medical specialty bags consistently. According to published data by the Centers for Medicare and Medicaid Services, the national health expenditures increased 4.1% in 2022 to reach a total of USD 4.5 trillion, or 17.3% of GDP. During 2024-2031, the US medical specialty bags market is slated to witness an impressive growth rate. The competition in this market has become very aggressive with top-grade global players vying for leadership positions. Manufacturers are increasingly incorporating smart technology and innovative materials to make their products more useful and safer.