Medical Specialty Bags Market Projected to Exceed US$ 14.3 Billion by 2032, Growing at a 5.5% CAGR: Transparency Market Research, Inc.

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Jul 16, 2024, 11:30 ET

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. Medicinal specialty pouches are widely utilized in hospitals, clinics, and home care settings across the world due to their sterility, simplicity, and mobility.

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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