Europe Urinary Drainage Bags Market to Hit USD 757.6 Million by 2029; Coloplast Buys IncoCare to Strengthen Industry Foothold

The Europe urinary drainage bags market size stood at USD 524.1 million in 2021. The market value is slated to rise from USD 547.6 million in 2022 to USD 757.6 million by 2029 at a CAGR of 4.7% during 2022-2029. The rise can be credited to the mounting prevalence of urinary incontinence. Additional factors fueling the industry expansion comprise the growing healthcare expenditure and favorable reimbursement policies by the government.

Fortune Business Insights™ presents this information in its research report, titled “Europe Urinary Drainage Bags Market Size, Share & COVID-19 Impact 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-chambers, and 3-chambers), By End-user (Hospital, Clinics, Ambulatory Surgical Centers, Home Care, and Others), and Regional Forecast, 2022-2029”.

COVID-19 Temporarily Impacted Industry Growth Due to a Drop in the Number of Consultations

In 2020, several countries in Europe recorded a decline in the number of urological consultations, temporarily affecting industry expansion. The market recorded robust prospects in 2021. This was prominently driven by the resumption of normal healthcare activities in almost all countries. During the year, the Europe urinary drainage bags market growth was not much affected given the performance of various surgical procedures under European guidelines.

Coloplast A/S Bought IncoCare Gunhild Vieler GmbH to Strengthen its Position in Germany

In February 2018, Coloplast A/S inked an agreement for the takeover of IncoCare Gunhild Vieler GmbH, a D2C homecare company. The move was aimed at strengthening the company’s position in Germany. In addition, the two companies intended to launch innovative services and products across the country.

Industry Value to Rise Driven by Soaring Geriatric Population in the Region

The Europe urinary drainage bags market share is set to rise impelled by the surging geriatric population in European countries. This is due to the fact that aging results in alterations in the lower urinary system. Some of the changes include weakened pelvic floor muscle resistance and reduced bladder capacity.  

However, the industry growth is likely to be restrained by the availability of cheaper and alternative forms of treatment such as adult diapers. This is due to the fact that these do not require assistance from a medical professional and are convenient to change.  

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/europe-urinary-drainage-bags-market-101419

Market Players Enter into Mergers and Partnership Agreements to Expand Product Reach

Leading industry participants are inking partnership agreements and collaborations for the consolidation of their market presence. Some of the other initiatives include growing adoption of strategic steps for strengthening industry position. These steps include rising participation in trade conferences, an escalation in research activities, and the growing formation of alliances.

Notable Industry Development

• July 2021 – Clinisupplies Ltd acquired VitalCare Group. It was aimed at expanding the company’s urology franchise in the Europe region and other developed markets.  

Key Players

• Coloplast A/S (Denmark)
• B. Braun Melsungen AG (Germany)
• Cardinal Health (U.S.)
• BD (Becton, Dickinson and Company) (U.S.)
• MANFRED SAUER GMBH (Germany)
• Clinisupplies Ltd (Healthium Medtech Limited) (U.K.)
• Hollister Incorporated (U.S.)
• Flexicare Medical Limited (U.K.)
• Convatec Group PLC (U.K.)
• Teleflex Incorporated (U.S.)

Further Report Findings

• Based on product, the Europe market for urinary drainage bags can be segmented into large capacity bags and leg bags. Of these, the leg bags segment is estimated to register appreciable growth throughout the forthcoming years. The surge can be attributed to various design formats that enable patients to change these products without the requirement for any assistance. 
• On the basis of capacity, the market can be subdivided into 0-500 ml, 500-1000 ml, 1000-2000 ml, and more than 2000 ml. Of these, the 500-1000 ml segment is expected to register considerable growth over the forecast period. This is mainly on account of the escalating cases of prostate cancer.
• The Germany urinary drainage bags market value is anticipated to register a notable rise over the forthcoming years. The growth can be credited to the surging adoption of advanced offerings and the growing number of surgical procedures.
• The U.K. market is expected to expand at a substantial pace throughout the analysis period. The expansion can be credited to the escalating awareness regarding urinary incontinence.

Table of Segmentation