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What Growth Rate is Forecasted for the Urinary Drainage Bags Market over the 2024-2033 Period?

There has been significant expansion in the market for urinary drainage bags in the past few years. The market value is expected to increase from $1.96 billion in 2023 to $2.1 billion in 2024, with an annual compound growth rate (CAGR) prognosis of 7.1%. The historical growth trend is due to factors such as cost efficiency, provision of home healthcare and sustained care, enhanced comfort and mobility for patients, adherence to regulatory standards and quality control, upgraded materials and designs, and prevalent chronic health conditions.

Anticipated to witness robust expansion in the imminent years, the market size of urinary drainage bags is projected to surge to $2.85 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.9%. The predicted growth during the forecast period is because of factors such as the changing age demographic, the move towards home healthcare, heightened patient awareness, a shift toward disposable alternatives, and economic factors. Key trends expected throughout the forecast period encompass enhancements in material technology, designs centered around the patient, downsizing for easy mobility, application of smart technologies, customization and individualization, and environmentally friendly solutions.

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Which Factors Are Stimulating Growth in the urinary drainage bags Market?

The growth of the urinary drainage bags market is forecasted to accelerate due to the increasing number of urologic diseases. These diseases impact the anatomy or functionality of the kidneys, ureters, and bladder. Urinary drainage bags provide a simple, hygienic, and safe method of collecting urine from the bladder for those suffering from urologic conditions such as urinary incontinence and urinary retention by inserting a catheter or sheath into the patient’s bladder. This reduces the possibility of urinary tract infection. For example, a report published by Mayo Clinic Health Systems, a US-based healthcare company, in November 2022 stated that urinary incontinence or unintentional urine leakage, is a common condition affecting 50% of adult women. The rate of this disease increases with age, with about 75% of women above 65 experiencing urine leakage. Further, according to the 2022 report of the American Cancer Society, a voluntary health organisation dedicated to cancer in the US, approximately 81,180 new instances of bladder cancer are expected annually (around 61,700 in men and 19,480 in women), resulting in about 17,100 deaths (around 12,120 in men and 4,980 in women). Therefore, the expanding incidence of urologic diseases is propelling the growth of the urinary drainage bags market.

What Are the Main Segments of the Urinary Drainage Bags Market?

1) By Product: Large Bags, Leg Bags

2) By Usage: Reusable, Disposable

3) By Capacity: 0-500 ml, 500-1000 ml, 1000-2000 ml

4) By End-Use: Hospital, Clinics, Other End-Users

What Innovative Trends Are Redefining the Urinary Drainage Bags Landscape?

The trend of product innovation is a crucial dynamic in the urinary drainage bags industry. The major players in this market are putting their efforts into research and development with the objective of creating innovative products, which can help them maintain their competitiveness. For instance, Otsuka Pharmaceutical Co. Ltd., a company based in Japan, in December 2021, introduced Actreen, a medical device that encompasses an on-off urological catheter and a urine collection bag. Actreen, a one-time-use catheter, is assembled from a tubing and a connector, and is specifically designed to assist those who have either lost their urge to urinate or have trouble urinating normally. The gadget’s surface is smeared with a hydrophilic lube, making it ready to be used right after its unsealing. It also incorporates a urine collection bag built in, to facilitate an easy drainage of urine.

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Which Regions Are Key Players in the Growth of the Urinary Drainage Bags Market?

North America was the largest region in the urinary drainage bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the urinary drainage bags market during the forecast period. The regions covered in the urinary drainage bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Urinary Drainage Bags Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the urinary drainage bags market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Urinary Drainage Bags Market Include

1. Urinary Drainage Bags Market Executive Summary

2. Urinary Drainage Bags Market Segments

3. Urinary Drainage Bags Market Size And Template Market Growth Rate

4. Key Urinary Drainage Bags Market Trends

5. Major Urinary Drainage Bags Market Drivers

……

25. Key Mergers And Acquisitions In The Urinary Drainage Bags Market

26. Top Urinary Drainage Bags Companies

27. Urinary Drainage Bags Market Opportunities And Strategies

28. Urinary Drainage Bags Market, Conclusions And Recommendations

29. Appendix

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