Ostomy Drainage Bags Market worth $ 4.80 Billion by 2030 - Exclusive Report by InsightAce Analytic

JERSEY CITY, N.J., Feb. 21, 2022 /PRNewswire/ -- 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)

• Colostomy Bags
• Ileostomy Bags
• Urostomy Bags
• Continent Ileostomy Bags
• Continent Urostomy Bags

Global Ostomy Drainage Bags Market, by Clinical Applications, 2019-2030 Value (US$ Mn) and Volume (No. of Units)

• Colorectal Cancer
• Bladder Cancer
• Colonic Diverticulitis
• Inflammatory Bowel Disease
• Other Diseases

Global Ostomy Drainage Bags Market, by Usage Types, 2019-2030 Value (US$ Mn) and Volume (No. of Units)

• Single-use Ostomy Drainage Bags
• Multi-use Ostomy Drainage Bags

Global Ostomy Drainage Bags Market, by Sales Channels, 2019-2030 Value (US$ Mn) and Volume (No. of Units)

• Hospitals and Specialty clinics
• Home care settings
• Ambulatory Surgical Centers

Global Ostomy Drainage Bags Market, by Region, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• The U.S.
• Canada

Europe Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa Ostomy Drainage Bags Market, by Country, 2019-2030 (Value US$ Mn and Volume (No. of Units))

• South Africa
• GCC Countries
• Rest of the Middle East & Africa

Why should buy this market research report:

• To receive a comprehensive insights/analysis of the prospects for the global ostomy drainage bags market
• To receive an industry overview and future market trends of the ostomy drainage bags market
• To analyze the ostomy drainage bags market drivers and challenges
• To get information on the ostomy drainage bags market value (US$ Mn) and volume (no. of the unit) forecast to 2030
• Significant investments, mergers & acquisitions in the ostomy drainage bags market industry

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