Ostomy Drainage Bags Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Report ID: GMI4682
Ostomy Drainage Bags Market size is expected to grow significantly from 2020 to 2026. Ostomy surgery is one of the life-saving process that permits bodily waste including urine and stool among others to pass through a surgically performed stoma on the abdomen. This surgery is important due to the medical conditions including inflammatory bowel disease, cancer, birth defects and incontinence among others. Additionally, ostomy surgery can occur at any stage and does not lower the life expectancy, that accelerates the overall business progression.
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Surging elderly population base with colorectal cancer will boost the demand for ostomy drainage bags. The number of elderly population base aged 80 years and over is estimated to surge at a much faster rate than the younger population. Geriatric population base has low immune system as compared to adults and is widely susceptible towards chronic conditions. In addition, various conditions such as diabetes and obesity thereby raise the demand for ostomy bags. Therefore, wide availability and increasing demand of drainage bags at home care settings will drive the overall market growth.
The industry players operating in the ostomy drainage bags market share are continuously focusing on introducing efficient and affordable products that will eventually drive the market demand. These manufacturers focus on developing a range of products that are widely used in the hospital settings and are indulging in advancement and innovation that propels the market growth. In addition, different players including ConvaTec, B. Braun and Salts Healthcare among others are constantly aiming to introduce innovative products including colostomy bags and ileostomy bags. Hence, above-mentioned aspects thereby augment the demand for ostomy drainage bags for better patient management. However, reimbursement issues may hinder the ostomy drainage bags industry growth.
On the basis of type, the market covers ileostomy bags, colostomy bags, urostomy bags and others. A colostomy bag is a plastic bag that widely accumulates fecal matter from the digestive tract from an opening in the abdominal wall known as a stoma. These colostomy drainage bags are extensively used in ambulatory surgical centers and hospitals to effectively manage and treat the patients’ health that fosters the segmental progression.
The hospitals segment will grow substantially during the analysis period. Availability of technologically advanced products to cater greater population along with better patient comfort will boost the demand and need for ostomy drainage bags in hospital settings. Moreover, hospitals deliver accurate diagnosis in the presence of a specialized healthcare team that will eventually augment the business expansion.
North America ostomy drainage bags market share will account for substantial revenue share by 2026 owing to rising prevalence of chronic diseases in this region. Rising geriatric population base suffering from various types of disorders such as cancer and others will augment the regional growth. Furthermore, presence of large number of manufacturers in this region thereby secures the overall industry growth.
Prominent industry players operating in ostomy drainage bags market include ALCARE, Nu-Hope Laboratories, B. Braun, Coloplast, ConvaTec, Flexicare (Group), Pelican Healthcare, Salts Healthcare, Torbot Group and Welland Medical. Eminent market players working in this industry adopt several in-organic and organic growth strategies to sustain industry competition.
Ostomy Drainage Bags Market By Type, 2015-2026 (USD Million)
- Colostomy Bags
- Ileostomy Bags
- Urostomy Bags
Ostomy Drainage Bags Market By End-use, 2015-2026 (USD Million)
- Home Care Settings
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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