The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Medical Specialty Bags Global Market Report 2023, the medical specialty bags market is expected to show promising growth in the forecast period.

The medical specialty bags market has demonstrated a steady growth pattern, evolving from $8.04 billion in 2023 to a projected $8.43 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 4.9%. The historical surge is credited to the increasing specialization of medical professions, the prevalence of chronic diseases, demand for minimally invasive procedures, the expansion of global healthcare, and rising disposable income levels.

Future Outlook and Growth Drivers

The medical specialty bags market is poised for robust growth in the coming years, with an estimated surge to $10.25 billion in 2028, sustaining a strong CAGR of 5.0%. Contributing factors to this growth include a heightened focus on preventive healthcare, rising demand for personalized medicine, an expanding need for home healthcare services, increased emphasis on patient safety, and a burgeoning aging population.

Emerging Trends in the Forecast Period

• Digital Health Technologies: Integration of technology for enhanced functionalities.
• Smart Medical Bags: Incorporation of smart features for improved usability.
• Customized Patient-Centric Solutions: Tailoring solutions to individual patient needs.
• Infection Control: Heightened focus on preventing infections.
• Sustainability and Biodegradability: Embracing eco-friendly materials and practices.

View More On The Medical Specialty Bags Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-specialty-bags-global-market-report

Surgical Boom Driving Market Growth

Surge in Surgical Procedures

The escalating number of surgeries is expected to be a key driver for the medical specialty bags market. These bags play a crucial role in patient care, waste containment, and equipment sterilization during surgical operations. For instance, transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI) surgeries witnessed a significant increase, reaching 6,328 in 2021/22 from 5,676 in 2019/20, as reported by the British Heart Foundation. This surge in surgical procedures is a major catalyst for the market’s growth.

Key Players in the Market

Major players in the medical specialty bags market include:

• Pall Corporation
• Fresenius Medical Care AG & Co.
• Baxter International Inc.
• DuPont de Nemours Inc.
• Braun Medical Inc.
• Sealed Air Corporation
• Terumo Corporation
• Becton Dickinson & Company
• R. Bard Inc.
• Hollister Incorporated
• Coloplast Corp.
• Ambu A/S
• Macopharma Inc.
• Bausch Advanced Technology Group
• Technoflex EN
• International Plastics Inc.
• Armand Manufacturing Inc.
• Uniflex Healthcare

Innovation Taking the Lead

Dual Chamber Products Revolutionizing the Market

Leading manufacturers are introducing innovative dual chamber products into the market, gaining a competitive edge. Dual chamber bags, with two distinct compartments, are designed to contain and transport different components of medical treatment. For example, Gufic Biosciences Ltd., an India-based pharmaceutical company, launched dual chamber bags made of polypropylene with a peelable aluminum foil. These bags are tailored to store unstable drugs, offering a convenient and efficient solution for healthcare providers and patients.

Strategic Acquisitions for Market Expansion

Vonco LLC’s Acquisition of Genesis Plastics Welding

In March 2023, Vonco LLC, a US-based medical device manufacturing company, made a strategic move by acquiring Genesis Plastics Welding. This acquisition is aimed at expanding Vonco’s medical device offerings, particularly in specialty medical devices, fluid bags, and other single-use medical device items. Genesis Plastics Welding, a US-based medical equipment manufacturing company, specializes in creating unique single-use medical devices, including fluid bags.

Market Segmentation Insights

Understanding Market Dynamics

The medical specialty bags market is segmented based on:

1. Product: Intravenous Fluid Bags, Ostomy Bags, Sterile Packaging Bags, Continuous Ambulatory Peritoneal Dialysis Bags (CAPD), Anesthesia And Resuscitation Bags, Other Products
2. Material: Polyvinyl Chloride (PVC) Compounds, Polyolefins, Other Materials
3. End-User: Hospitals, Ambulatory Surgical Centers, Home Healthcare, Other End-Users

Regional Dynamics

North America emerged as the largest region in the medical specialty bags market in 2023, with Asia-Pacific anticipated to be the fastest-growing region in the forecast period, signaling a shift in global market dynamics.

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The Medical Specialty Bags Global Market Report 2023  offers a comprehensive overview on the medical specialty bags market size, growth rate, trends and drivers, opportunities, strategies, and competitor landscape. The countries covered in the medical specialty bags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Table Of Content For The Medical Specialty Bags Market Include:
1. Medical Specialty Bags Market Executive Summary
2. Medical Specialty Bags Market Segments
3. Medical Specialty Bags Market Size And Medical Specialty Bags Market Growth Rate
4. Key Medical Specialty Bags Market Trends
5. Major Medical Specialty Bags Market Drivers
……
25. Key Mergers And Acquisitions In The Medical Specialty Bags Market
26. Top Medical Specialty Bags Companies
27. Medical Specialty Bags Market Opportunities And Strategies
28. Medical Specialty Bags Market, Conclusions And Recommendations
29. Appendix

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