PUBLISHER: The Business Research Company | PRODUCT CODE: 1270547
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270547
“Ostomy Drainage Bags Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ostomy drainage bags market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ostomy drainage bags? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ostomy drainage bags market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the ostomy drainage bags market are Alcare Co. Ltd., B. Braun Melsungen Aktiengesellschaft, Coloplast A/S, Convatec, Hollister Inc., Pelcin Healthcare Ltd., Salts Healthcare Ltd., Welland Medical Ltd., Marlen Manufacturing and Development, Torbot Group Inc., Cymed Ostomy, Prowess Care, and Goodhealth Inc.
The global ostomy drainage bags market is expected to grow from $2.13 billion in 2022 to $2.21 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ostomy drainage bags market is expected to grow to $2.55 billion in 2027 at a CAGR of 3.6%.
The ostomy drainage bags market consists of sales of drainage bags that are connected to an ostomy pouch and designed to reduce the number of nightly pouch changes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
An ostomy urinary drainage bag is an appliance connected to a catheter that helps to drain and collect urine. It is used when there is a problem that involves the bladder and urine. Ostomy bags are usually coated in liquid-impervious material that allows urine to pass through them.
North America was the largest region in the ostomy drainage bags market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period The regions covered in the ostomy drainage bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
The main types of ostomy drainage bags are colostomy bags, ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags. A colostomy bag is a plastic bag that collects feces from the digestive tract through a hole in the abdominal wall. The various clinical applications involved are colorectal cancer, bladder cancer, colonic diverticulitis, inflammatory bowel disease, and others that are used as single-use ostomy drainage bags, and multi-use ostomy drainage bags by hospitals, and home care setup end users.
Increasing in bladder cancer is expected to propel the demand for the ostomy drainage bags market going forward. Bladder cancer develops when the cells that make up the urinary bladder begin to proliferate uncontrollably. As more cancer cells proliferate, they form a tumor and spread to other parts of the body over time. Drainable ostomy bags allow users to empty and reuse their pouch contents. Drainable bags may be preferable for people who have urine-based diseases. For instance, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, in 2022, in the USA, there were about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and there were about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women). Therefore, increasing in bladder cancer is driving the demand for the ostomy drainage bags market.
Product innovations are a key trend gaining popularity in the ostomy drainage bags market. Major companies operating in the ostomy drainage bags market are focused on developing innovative solutions to sustain their position in the market. For instance, in June 2021, Pelican Healthcare Ltd., a UK-based manufacturer of disposable medical products launched ModaVi, a new innovative ostomy pouch range. The new ModaVi line is created with lifestyle in mind in addition to clinical performance. It offers crucial components that provide ostomates with more independence and influence over their daily lives. The ModaVi launch aims to combat stigma, improve people's lives, and prevent stomas from defining who someone is. This device gives people with a stoma the support, freedom, and quality of life.
In November 2020, Coloplast A/S, a Denmark-based company that develops, manufactures, and markets medical devices and services related to ostomy, urology, continence, and wound care acquired Nine Continents Medical Inc for $145 million. The deal support Coloplast's mission and strategic direction to market cutting-edge solutions and pursue both organic and inorganic growth opportunities in the interventional urology business. Nine Continents Medical Inc is a US-based developer of a device that provides neurostimulation for the treatment of overactive bladder.
The countries covered in the ostomy drainage bags market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ostomy drainage bags market research report is one of a series of new reports from The Business Research Company that provides ostomy drainage bags market statistics, including ostomy drainage bags industry global market size, regional shares, competitors with ostomy drainage bags market share, detailed ostomy drainage bags market segments, market trends, and opportunities, and any further data you may need to thrive in the ostomy drainage bags industry. This ostomy drainage bags market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.