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InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Ostomy Drainage Bags Market by Products (Colostomy Bags, Ileostomy Bags, Urostomy Bags, Continent Ileostomy Bags, and Continent Urostomy Bags), Clinical Applications (Colorectal Cancer, Bladder Cancer, Colonic Diverticulitis, Inflammatory Bowel Disease, Other Diseases), Usage Types (Single-use, Multi-use) Market Trends, Industry Competition Analysis, Revenue and Volume Forecast To 2030.”
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According to the latest market research report, the global ostomy drainage bags market is valued at US$ 3,274.80 Million in 2021, and it is expected to reach US$ 4808.06 Million by 2030, with a CAGR of 4.42% during a forecast period. An ostomy is a hole (stoma) created by surgery in the body. The ostomy drainage bags collect waste products, such as urine, stool, and mucus, from the urinary bladder and intestine. An ostomy might be temporary or permanent, depending on the patient’s condition.
The market growth is primarily attributed to the high prevalence of colorectal cancer and urologic diseases, growing demand for home care services, and increased initiatives to raise incontinence awareness worldwide. Increasing technological advancements, rising product innovations by key players in the market to improve their business, and the increasing public awareness regarding ostomy care products is further anticipated to offer market growth opportunities in the upcoming years. In 2017, The Natura Convex Cut-to-Fit Accordion Flange was introduced by ConvaTec Group Plc to make the two-piece ostomy pouch application easier and more comfortable for persons with stomas. ConvaTec’s Accordion Flange portfolio now includes a convex option, which caters to particular consumer demands and preferences in a growing area of the ostomy care market.
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The growing prevalence of urinary bladder and colorectal cancer has increased the global demand for ostomy drainage bags. For instance, according to the American Cancer Society, in 2021, about 149,500 individuals are expected to diagnose with colorectal cancer, and around 52,980 individuals are anticipated to die due to colorectal cancer in the US. These factors are expected to compel the growth of the market over the forecast period.
However, the high risk of complications, unfavourable reimbursement policies, and the availability of other alternative surgical procedures may hamper the market size during the forecast years.
Geographically, the Asia Pacific is expected to be the fastest-growing regional market in the coming years due to the increasing number of cancer patients and the fast adoption of advanced medical technologies.
Major market players operating in the ostomy drainage bags market include Coloplast A/S (Denmark), ConvaTec (UK), Hollister Incorporated (US), Welland Medical Limited (UK), Wellspect HealthCare (Sweden), Salts Healthcare Limited (UK), Pelcin Healthcare Limited (UK), ALCARE Co., Ltd. (Japan), B. Braun Melsungen AG (Germany), Flexicare Medical Limited (UK), Romsons (India), Schena Ostomy Technologies, Inc. (US), Torbot Group, Inc. (US), among others.
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Market Segments
Global Ostomy Drainage Bags Market, by Products, 2019-2030 Value (US$ Mn) and Volume (No. of Units)
Global Ostomy Drainage Bags Market, by Clinical Applications, 2019-2030 Value (US$ Mn) and Volume (No. of Units)
Global Ostomy Drainage Bags Market, by Usage Types, 2019-2030 Value (US$ Mn) and Volume (No. of Units)
Global Ostomy Drainage Bags Market, by Sales Channels, 2019-2030 Value (US$ Mn) and Volume (No. of Units)
Global Ostomy Drainage Bags Market, by Region, 2019-2030 (Value US$ Mn and Volume (No. of Units))
North America Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))
Europe Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))
Asia Pacific Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))
Latin America Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))
The Middle East & Africa Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))
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