Urinary Drainage Bags Market is Predicted to Witness 4.6% CAGR till 2028

The global Urinary Drainage Bags Market size is expected to reach USD 2.6 billion by 2028, registering a CAGR of over 4.6% over the forecast period, according to a new report by Grand View Research, Inc. The increasing geriatric population, favorable reimbursement policies, and rising prevalence of urological diseases are the key factors driving the market. There has been a constant rise in the prevalence of urologic disorders, such as urinary retention, cystitis, benign prostatic hyperplasia, Urinary Incontinence (UI), and kidney stones, which lead to bladder dysfunction. A report published by the National Center for Biotechnology Information (NCBI) in 2020 states that the prevalence of acute urinary retention is more common in men than in women and around 10.00% of men in the age group 70 to 80 years is more likely to develop acute urinary retention.

Therefore, such instances indicate that the demand for urinary drainage bags may increase, thereby propelling the market growth over the forecast period. The COVID-19 pandemic has restricted access to medical services, which has led to inadequate medical facilities for patients with various conditions. Older patients with multiple comorbidities are at a higher risk of acquiring COVID-19 due to low immunity. Older people majorly prefer using urinary drainage bags during hospital admissions due to several advantages. Therefore, a surge in hospital admission rate due to rising cases of COVID-19 is anticipated to propel the product demand to offer efficient patient care across hospital settings. Thus, the market is expected to witness significant and continuous growth post-pandemic.

Related Press Release@ Urinary Drainage Bags Market Report

Urinary Drainage Bags Market Report Highlights

• In terms of product, the leg bags segment held the largest share in 2020. An increase in the use of leg bags owing to its several advantages is boosting the segment growth
• In terms of usage, the disposable segment held the largest market share in 2020 owing to the increase in adoption of home care treatments
• In terms of capacity, the 500-1000 ml segment is anticipated to witness the fastest growth rate over the forecast period as it is the standard measure for leg bags and thus is widely used
• In terms of end use, the hospitals segment held the largest market share in 2020 owing to the increase in hospital admissions across the globe due to the high number of COVID-19 cases
• Asia Pacific is anticipated to witness the fastest CAGR over the forecast period owing to the rising number of surgeries performed and the strong presence of many local players

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Created on Sep 27th 2021 05:20. Viewed 228 times.

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