Pune, Nov. 11, 2019 (GLOBE NEWSWIRE) -- A rise in the geriatric population is projected to boost the global urinary drainage bags market during the forecast period. According to a published report by Fortune Business Insights, titled, “Urinary Drainage Bags Market Size, Share & Industry Analysis, By Product (Leg Bags and Large Capacity Bags), By Capacity (0-500 ml, 500-1000 ml, 1000-2000 ml, and more than 2000 ml), By Number of Chambers (Single Chamber, 2 Chamber, 3 Chamber), End-user (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care, and Others) and Regional Forecast, 2019-2026,” the market is projected to reach USD 1,475.60 Million by 2026, exhibiting a CAGR of 4.9% during the forecast period. However, the market was valued at USD 1,007.81 Million in 2018.
The report predicts and analyzes the urinary drainage bags market size in terms of value and volume. It provides elaborate information regarding all the segments and doesn’t fail to mention the leading segments separately. It further highlights the competitive developments, such as mergers, expansions, new product launches, and acquisitions.
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Alzheimer’s Disease and Pelvic Organ Prolapse to Skyrocket Demand for Urinary Drainage Bags
The Alzheimer’s Disease Facts and Figures recently published a report. It states that approximately 5.8 million Americans are affected by Alzheimer’s dementia at present. They assume that this number will rise rapidly in the coming years due to increasing number of aging population in the U.S. that belong to the group of 65 years and above. Patients suffering from Alzheimer’s disease have issues with urinary incontinence.
Furthermore, several women around the world are affected by pelvic organ prolapse every year. The condition causes the woman’s pelvic organ to shift out of its usual position. It disables the function of urethra. These two diseases cause urine leakage and hence, it increases the urinary drainage bags market sales.
Single Chamber Bags to Lead Market Owing to Rising Number of Surgical Procedures
In terms of number of chambers, the urinary drainage bags market is categorized into single chamber, 2 chambers, and 3 chambers. Out of these, the single chamber bags would be in the dominant position in the coming years. It would occur mainly due to the availability of wider product offerings by renowned players and the increasing number of surgical procedures. Combined with these, a rise in the number of consumer awareness campaigns regarding the product would contribute to growth. Besides, the 2 chamber segment would grow at a fast pace due during the forthcoming years due to better wearability and more comfort of this type of bag.
Fortune Business Insights profiles some of the most prominent companies operating in the urinary drainage bags market. They are as follows:
- Coloplast A/S
- ConvaTec Group PLC
- Clinisupplies Ltd. (Healthium Medtech)
- Flexicare Medical Limited
- Teleflex Incorporated
- Medline Industries, Inc.
- Hollister Incorporated
- Manfred Sauer GmbH
- Other key market players
Increasing Healthcare Expenditure to Propel Growth in Europe
The urinary drainage bags market is geographically divided into North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. Amongst these regions, Europe is anticipated to lead the market throughout the forecast period. It would likely occur due to the rising prevalence of bladder cancer and increasing healthcare expenditure in this region. The Nation Health Service (NHS) and European Union of Medical Association (EMEA) are smoothly managing the cost burden of pharmaceutical products and medical devices experienced by the consumer and the patient. It is one of the vital urinary drainage bags market trends.
Moreover, the European countries house numerous non-profit organizations. They are helping in creating awareness about various urinary incontinence products, such as urinary collection bags and urinary catheters. All these factors are expected to propel the urinary drainage bags market growth in this region in the coming years. Asia Pacific, on the other hand, is likely to exhibit notable growth due to rising cases of hospitalization and increasing demand for cost-effective urinary collection bags. Additionally, a rise in the incidence of chronic diseases, namely, diabetes would augment market growth here.
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Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Number of Urological and Gynecological Surgeries – By Country/Sub- region -2018
- Technological Advancements in Urinary Drainage Bags
- Key Industry Developments – Mergers and Acquisition, 2018
- Key Industry Trends
- Pricing Analysis - End User
- Global Urinary Drainage Bags Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Leg Bags
- Large Capacity Bags
- Market Analysis, Insights and Forecast – By Capacity
- 0-500 ml
- 500-1000 ml
- 1000-2000 ml
- More than 2000 ml
- Market Analysis, Insights and Forecast – By Number of Chamber
- Single Chamber
- Market Analysis, Insights and Forecast – By End-user
- Ambulatory Surgical Centers
- Home Care
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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