PORTLAND, Oregon and PUNE, India, January 23, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Ostomy Drainage Bags Market - Global Opportunity Analysis and Industry Forecast, 2014-2022," the ostomy drainage bags market was valued at $2,742 million in 2015, and is expected to reach $3,524 million by 2022, growing at a CAGR of 3.6% from 2016 to 2022.
Summary of the Ostomy Drainage Bags Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/ostomy-drainage-bags-market
High prevalence of colorectal cancer owing to the increase in geriatric population drives the market growth. Increase in population prone to colon cancer, urinary tract cancer, bladder cancer, colorectal cancer, inflammatory bowel disease, and chronic diseases such as ulcerative colitis and Crohn's disease that require ostomy surgery, further boosts the market growth.
"Launch of new ostomy products with desirable features and technological advancements would propel adoption of these products." says Hemali Narkhede, Manager, Healthcare Research at Allied Market Research.
North America was the largest regional market, followed by Europe due to moderate reimbursement scenario in these regions. Asia-Pacific is estimated to grow at the highest CAGR of 6.7% during the forecast period.
Key findings of the study
- Colostomy, ileostomy, and urostomy bags segments are expected to occupy highest market share, and are identified as lucrative targets for investment.
- Colostomy bags segment dominated the ostomy drainage bags market in 2015.
- Majority of the market share was dominated by North America in 2015, while Asia-Pacific is expected to grow at the highest rate.
- Continent urostomy and Ileostomy bags segments are projected to grow at high CAGRs globally.
The key market players profiled in the report are F. Hoffmann-La Roche AG, Reprogenetics, LLC, Genea Limited, Illumina, Inc., Laboratory Corporation of America Holdings, Natera, Inc., PerkinElmer, Inc., Quest Diagnostics Incorporated, Genesis Genetics Ltd., and Reproductive Genetics Innovations LLC.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/life-sciences/Healthcare-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research