LONDON, May 02, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the urinary drainage bags market forecasts that the urinary drainage bags market is set to experience significant growth in the coming years. The market is expected to expand from $1.8 billion in 2022 to $1.9 billion in 2023, representing a compound annual growth rate (CAGR) of more than 7%. Looking further ahead, the market is projected to reach $2.54 billion by 2027 at a CAGR of more than 6%. North America was the largest region in the market in 2022.
The growth of the urinary drainage bags market is fueled by the increasing prevalence of urologic diseases. For instance, urine incontinence, which is the involuntary leakage of urine, is a common condition that affects 50% of adult females according to a November 2022 report by Mayo Clinic Health Systems. Moreover, bladder cancer is also prevalent, with approximately 81,180 new cases expected in the US in 2022 according to the American Cancer Society.
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Innovation is a significant trend in the global urinary drainage bags market, with major urinary drainage bags companies like Convatec Group, Cardinal Health Inc., Teleflex Incorporated, Coloplast A/S, BD (Becton, Dickinson and Company), McKesson Medical Surgical, and Amsino International Inc. investing in research and development to enhance their market position.
For example, Otsuka Pharmaceutical Co. Ltd., a Japanese pharmaceutical firm, introduced Actreen in December 2021. Actreen is a single-use catheter with a hydrophilic lubricant coating, making it suitable for self-catheterization in individuals who experience difficulty urinating. It also features an integrated urine collection bag for easy urine drainage.
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The global urinary drainage bags market is segmented as:
1) By Product: Large Bags, Leg Bags
2) By Usage: Reusable, Disposable
3) By Capacity: 0-500 ml, 500-1000 ml, 1000-2000 ml
4) By End-Use: Hospital, Clinics, Other End-Users
The urinary drainage bags market report serves as a valuable resource for stakeholders interested in the urinary drainage bags industry. It provides insight into the current state of the market and its potential for growth, helping companies to make informed decisions about investments and strategies in this area.
Urinary Drainage Bags Global Market Report 2023 by The Business Research Company provides insights on the urinary drainage bags market size, urinary drainage bags market segments, urinary drainage bags market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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