Medical Specialty Bags Market to Expand owing to Introduction of Cost-Effective Products

The global medical specialty bags market is poised to expand at a healthy rate in the near future. Extensive reimbursement options and rising availability of a number of cost-effective products are some of the growth drivers augmenting the demand for these bags. TMR, a market intelligence company, elaborates upon the top 4 factors predicted to raise the demand for medical specialty bags in the near future.

• Rising Occurrence of Diseases in Older Population: The aging population worldwide is raising the incidence of conditions such as bile leakage, bowel incontinence, and others. In the aging population, conditions such as bowel incontinence are on the rise owing to weakening of muscles and reflexes, due to which individuals suffer from loss of bowel control. This type of problem is more common in women who are aged 65 years or more, as compared to men. Medical specialty bags are widely used in hospitals at numerous stages during the treatment of such diseases. The variety of medical specialty bags utilized in hospitals includes bile collection bags, enema bags, blood bags, and urinary collection bags. 

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• Rise in Healthcare Spending: Healthcare spending is on the rise due to increase in consumer awareness globally. Consumers who postponed their treatment during the recent economic downturn have now started seeking those treatments owing to the rise in disposable income. In order to keep consumers informed, companies such as Castlight Health, which assist consumers in comparing the cost of treatments, have also begun to formulate comparative cost information for customers. This way, customers are able to make better decisions on their healthcare. This will raise the demand for medical specialty bags owing to more people getting treatments done in hospitals. 

• Increase in number of hospitals: According to statistics released by the Central Bureau of Health Intelligence, there is an exponential rise in the number of hospitals in many countries. For instance, in India, government hospitals have increased from 4,571 in 2000 to 15,000 by 2015. The rise in the number of healthcare facilities will also result in the increase of medical procedures, thereby increasing the requirement for medical specialty bags.

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• Introduction of Wide Range of Medical Specialty bags: Recently, a large number of manufacturers have focused on making advanced medical specialty bags. The extended product offering provided to medical laboratories and hospitals improves efficiency and maximizes cost savings. Some of the newly launched medical bags introduced by major manufacturers are:

1. Lab Guard Reclosable Specimen Bags with patented TearZone EZ-Open Feature and Destroyable Bio-hazard Symbol

2. Lab Guard Reclosable Chemotherapy Bags
3. Lab Guard Reclosable UV Protection Bags
4. Speci-Zip Reclosable Specimen Bags

Some other factors raising the demand for medicinal specialty bags include the more flexible FDA regulation pertaining to Class I medical devices and rise in government initiatives and programs for consumer awareness. However, the consistent risk of infection and the cost involved in sterilizing and washing the bags may impede the growth of the market for medical specialty bags in the coming years.