Albany, NY -- (SBWIRE) -- 05/21/2014 -- According to a new market report published by Transparency Market Research "Medical Specialty Bags Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018", the global medical specialty bags market was valued at USD 6.2 billion in 2011 and is expected to reach an estimated value of USD 8.3 billion in 2018, growing at a CAGR of 4.2% from 2012 to 2018.
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The growth of the market is ensured by factors namely global aging population, less complicated FDA regulations for class I medical devices, increasing global healthcare related consumer spending and growing instances of awareness programs and government initiatives to elevate customer awareness levels. The growing demographics in the emerging economies of the Asian region (mainly India and China) coupled with the rising disposable incomes of consumers belonging to such economies will serve as future growth opportunities for the medical specialty bags market.
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The ostomy collection bags market held majority of the market share in 2011, followed by IV fluid bags. The bile collection bags market is the fastest growing segment owing to increasing customer adoption of laparoscopic cholecystectomy over open cholecystectomy (around 0.3% to 0.6% of laparoscopic cholecystectomy procedures result in a bile duct injury causing bile leakages).
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The North American region held majority of the market share in 2011 owing to the developed nature of its economies such as the U.S., presence of high disposable incomes and increased awareness levels amongst consumers. The North American medical specialty market is expected to reach an estimated value of USD 3.0 billion in 2018. The Asian medical specialty bags market is the fastest growing market owing to its rising demographics coupled with increasing disposable incomes of consumers especially in the emerging economies such as India and China.
Some of the key players in the market are Coloplast, Baxter International Inc, ConvaTec, Hollister, Fresenius Medical Care and others.
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This research is specially designed to estimate and analyze the demand and performance of medical specialty bags in global scenario, in terms of revenue generated in USD million and volumes sold in thousands. This research provides in-depth analysis of medical specialty bag manufacturers, segment sales, trend analysis by segments and demand by geography.