Europe Urinary Drainage Bags Market to Exhibit a CAGR of 4.5% from 2019-2026

The “Europe Urinary Drainage Bags ” Market will grow considerably due to the wide product offerings and ease of use associated with urinary drainage bags. According to a report published 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 was valued at USD 469.6 Million in 2018 and is projected to reach USD 666.9 Million by 2026, exhibiting a CAGR of 4.5% during the forecast period.

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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.

Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Rising Incidence of Urinanry Incontinence to Fuel Demand for Drainage Bags

Urinary drainage bags are used along with a catheter are used mostly by patients suffering from urinary incontinence. The growing adoption of urinary drainage bags by bed-ridden patients in hospitals as well as homes will aid the growth of the Europe urinary drainage bags market in the coming years. The high prevalence of urinary continence will lead to a rapid adoption of the products across the world. According to the National Health Services (NHS), an estimated 6 million people in the UK suffer from urinary incontinence. Additionally, the National Institute of Health and Clinical Excellence, around 34% of the women suffered from urinary incontinence in the UK in 2017. The severity of urinary incontinence will lead to an increased demand for the products across the Europe, subsequently aiding the urinary drainage bags market growth.

The report on urinary drainage bags offers insights into the latest industry trends and provides a detailed analysis of various segments of the markets and highlights leading players and entities from all segments. The report provides a brief summary of the key opportunities in the market for the near future.

The report classifies the Europe urinary drainage bags market based on factors such as product type, capacity, number of chambers, end user and regional demographics. Among all regions, Fortune Business Insights predicts that the urinary drainage bags in Germany held the highest share in recent years. The increasing healthcare expenditure, coupled with the increasing incidence of bladder cancer and related disorders has aided the growth of the urinary drainage bags market in Germany. As per Fortune Business Insights, the Germany urinary drainage bags market was valued at USD 119.6 Mn in 2018 and is likely to grow at a healthy CAGR during the forecast period.

Key Players Operating in The Europe Urinary Drainage Bags Market Include:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are: