NEWARK, Del, June 12, 2023 (GLOBE NEWSWIRE) -- In the forthcoming years, the Urinary Bag Market is poised for remarkable expansion, showcasing a promising growth trajectory. Projections indicate that by 2023, the market is anticipated to achieve a noteworthy value of US$ 1899.3 million, demonstrating its strong growth potential. This positive momentum is anticipated to persist as the market steadily progresses at a rate of 4.4% throughout the forecast period.
The Urinary Bag market is forecasted to attain a substantial valuation of US$ 2911.7 million by 2033 underscoring its significant impact and widespread adoption across diverse industries.
The Urinary Bag industry has witnessed significant growth and technological advancements in recent years. Urinary Bags play a crucial role in managing urinary incontinence and providing an efficient and hygienic collection of urine.
With the increasing prevalence of chronic diseases and the aging population, the demand for Urinary Bags has surged, leading to a competitive market landscape with continuous innovations.
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The emergence of smart and digital solutions has transformed the market. Innovative technologies such as wireless monitoring systems, smart sensors, and mobile applications have been integrated into Urinary Bags. Further, these technologies enable real-time monitoring of urine volume, temperature, and flow rates.
Digital solutions not only enhance patient monitoring but also facilitate remote patient management, reducing the need for frequent hospital visits and improving the efficiency of healthcare delivery.
Access to Urinary Bags can be a challenge, particularly in low-resource settings and developing countries. The availability and affordability of high-quality Urinary Bags may be limited. It may lead to inadequate management of urinary incontinence for patients who cannot afford or access appropriate products. Addressing this challenge requires a focus on affordability, distribution networks, and increasing awareness about the importance of proper urinary care.
Top Highlights from FMI’s Analysis:
- In 2022, North America held a value share of 34.5% in the Urinary Bag industry.
- The market in Europe accounted for a value share of 28.6% in 2022 on a global level.
- By product type, drainage bags held a substantial value share of 52.24% in 2022.
- The market value for Urinary Bags reached US$ 1821.0 billion in 2022, with a CAGR of 4.1% from 2018 to 2022.
- Based on end-use, the hospitals sub-segment was predicted to account for a 40.2% share in 2022.
- The market for Urinary Bags in India is likely to secure a 6.9% CAGR from 2023 to 2033.
How Fierce Is the Competition in the Urinary Bag Industry?
The market consists of both established players with a strong market presence and new entrants striving to gain a foothold. Established companies have a competitive advantage due to their brand reputation, extensive distribution networks, and customer loyalty. Moreover, they often have the resources to invest in research and development, marketing, and strategic partnerships.
Companies in the Urinary Bag market engage in strategic partnerships, collaborations, and acquisitions to strengthen their market position and expand their capabilities. These alliances help in leveraging complementary strengths, accessing new markets, and sharing resources, leading to increased competitiveness in the market.
Ongoing investment in research and development allows companies to develop innovative products, improve existing offerings, and stay ahead of competitors. Companies that invest in research and continuously bring new and improved products to the market have a competitive edge.
Expanding into new geographic regions or targeting niche segments provides opportunities for growth and increased competitiveness. Companies that successfully enter new markets or address specific customer needs, gain an advantage over competitors.
Compliance with regulatory standards and certifications is crucial in the medical device industry, including the market. Manufacturers that meet or exceed regulatory requirements demonstrate their commitment to quality and patient safety, enhancing their competitive position.
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Major Players:
- Medline Industries, Inc.
- Cardinal Health, Inc.
- Hollister Incorporated
- Teleflex Incorporated
- Cook Medical
- Moore Medical LLC
- Mckesson Medical-Surgical Inc.
- Arcus Medical LLc
- Urocare
- Covidien
- Coloplast A/S
- Others
Key Segmentations are:
By Product Type:
- Drainage Bags
- Leg Bags
- Large Capacity Bags
- Belly Bags
By Capacity:
- Less than 500 ml
- 500 ml
- 1000 ml
- 2000 ml
- 4000 ml
By Usage:
- Reusable Urinary Bags
- Disposable Urinary Bags
By Patient Age:
- Pediatric
- Adult
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Long-Term Care Centers
- Home Care
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Table of Content (TOC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.3.1. Large Bags
5.3.2. Leg Bags
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Usage
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Usage, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Usage, 2023 to 2033
6.3.1. Reusable
6.3.2. Disposable
6.4. Y-o-Y Growth Trend Analysis By Usage, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Usage, 2023 to 2033
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Have a Look at Related Reports of the Healthcare domain:
Urinary Tract Infection (UTI) Treatment Market Size: The UTI treatment market is anticipated to grow at a CAGR of ~2% from 2019 to 2029. Europe is expected to remain the leading regional market for urinary tract infection treatment.
Urinary Antibacterial And Antiseptic Pharmaceuticals Market Share: The urinary antibacterial and antiseptic pharmaceuticals market is likely to register a CAGR of 4.3% during the forecast period. The market is estimated to be valued at US$ 44.2 Billion in 2022 and likely to be valued at US$ 67.34 Billion by 2032.
Urinary Collection Device Market Growth: The global urinary collection device market was valued at around US$ 2.6 Billion at the end of 2021. The market is projected to register a 5.2% CAGR and top a valuation of US$ 4.4 Billion by 2032.
Urinary Tract Infection Testing Market Analysis: Urinary tract infection is one of the most common bacterial infections affecting almost 150 million people worldwide. Urinary tract infection mostly occurs in the urinary tract which is caused by bacteria, viruses and fungi.
Urinary Retention Therapeutics Market Demand: The global urinary retention therapeutics market is anticipated to attain a valuation of US$ 3.44 billion in 2023 and is projected to reach US$ 7.5 billion by 2033, trailing a CAGR of 8.11% during the forecast period.
Female Stress Urinary Incontinence Treatment Devices Market Trends: Currently, the global female stress urinary incontinence treatment devices market is valued at US$ 702.4 Million and is expected to expand at a high CAGR of 6.2% (2022 to 2029) to end up with a market of US$ 1.07 Billion by the end of 2029.
Self-urinary Infection Testing Market Insights: According to Future Market Insights, the market for self-urinary infection testing is likely to project a compounded annual growth rate (CAGR) of 7.8% during the assessment period ranging from 2023 to 2033.
Artificial Urinary Sphincter Market Forecast: The global artificial urinary sphincter market is anticipated to be valued at US$ 441.7 Million in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 769.2 Million from 2022 to 2032.
Uncomplicated Urinary Tract Infection Treatment Market Overview: The global uncomplicated urinary tract infection treatment market garnered a market value of US$ 5.96 Billion in 2022 and is expected to accumulate a market value of US$ 17 Billion by registering a CAGR of 10% in the forecast period 2023 to 2033.
Catheter-Associated Urinary Tract Infections Treatment Market Outlook: The global catheter-associated urinary tract infections treatment market is expected to be valued at US$ 83.2 Billion in 2022. By 2023 and 2033, this market is expected to generate revenues worth US$ 88.86 Billion and US$ 171.56 Billion, respectively, with a steadily expanding CAGR of 6.8%.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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