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Ostomy Drainage Bags Market Expected to Reach $2.4 Billion by 2030

 
2022
Ostomy Drainage Bags Market

Report Code : A00313

quote Alarming rise in prevalence of disorders such as colorectal cancer, inflammatory bowel diseases, rise in government & private funds for development of healthcare sectors, and increase in number of key players for ostomy drainage bags are expected to notably contribute toward the growth of the global ostomy drainage bags market during the forecast period. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Ostomy Drainage Bags Market," The ostomy drainage bags market was valued at $1,658.38 million in 2020, and is estimated to reach $2.4 Billion by 2030, growing at a CAGR of 3.8% from 2021 to 2030.

Ostomy drainage bag is a plastic/rubber bag or pouches utilized to collect waste generated by the patient affected by inflammatory bowel disease (IBD), Crohn’s disease, and different types of cancer. Ostomy surgery is one of the life-saving processes that permits bodily waste, including urine and stool to pass through a surgically performed stoma on the abdomen.

The factor that drives the ostomy drainage bags market growth include rise in applicability of ostomy drainage bags in the medical sector such as hospitals, clinics, and consumers, in terms of both patients and investing firms. Moreover, rise in demand for ostomy drainage bags in geriatric population & people with sedentary lifestyle and stringent government regulations for reducing the complications & risks related with ostomy surgery drive the market. Furthermore, production of ostomy drainage bags on large scale and presence of untapped market in emerging economies provide lucrative growth opportunities for the market.

Growth in patient population suffering from colorectal cancer, bladder cancer, and Crohn’s disease and technological advancements leading to production of efficient, skin-friendly, durable, reusable, waterproof, and economical bags drive the market growth. For instance, in August 2019, according to World Ageing 2019 report, there were around 703 million people aged 65 years or more in the world. Therefore, surge in number of geriatric population increases the usage of ostomy drainage bags because of various life-threatening diseases. In August 2019, United Ostomy Associations of America, Inc., held the 7th National Conference at Pennsylvania on ‘discover the world of ostomy product’. Ostomy producers, accessories producers, retailers, and associated assistance organizations visited this conference. Thus, development of new strategies by key players propels the ostomy drainage bags market growth.

Surge in innovations in advanced level of healthcare product offerings and  increase in cases of inflammatory bowel disease further generate lucrative market growth opportunities. In addition, various conditions such as diabetes and obesity  rise the demand for ostomy bags, driving the ostomy drainage bags market size.  

The ostomy drainage bags industry is segmented on the basis of type and  region. On the basis of type, the ostomy drainage bags market analysis is segmented into colostomy bags, ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags.

The colostomy bags  segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of ostomy drainage bags products.

Region wise, North America accounted for a majority of the global ostomy drainage bags market share in 2020, and is anticipated to remain dominant during the ostomy drainage bags market forecast period. This is attributed to rise in production of ostomy drainage bags, increase in number of approvals for ostomy products, rise in presence of key players, and surge in development of technology for healthcare. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of colorectal cancer cases, rise in demand for ostomy bags, and growth in health care expenditures.

Ostomy drainage bag is a plastic/rubber bag or pouches utilized to collect waste generated by the patient affected by inflammatory bowel disease (IBD), Crohn’s disease, and different types of cancer. Ostomy surgery is one of the life-saving processes that permits bodily waste, including urine and stool to pass through a surgically performed stoma on the abdomen.

The factor that drives the ostomy drainage bags market growth include rise in applicability of ostomy drainage bags in the medical sector such as hospitals, clinics, and consumers, in terms of both patients and investing firms. Moreover, rise in demand for ostomy drainage bags in geriatric population & people with sedentary lifestyle and stringent government regulations for reducing the complications & risks related with ostomy surgery drive the market. Furthermore, production of ostomy drainage bags on large scale and presence of untapped market in emerging economies provide lucrative growth opportunities for the market.

KEY FINDINGS OF THE STUDY

  • By type, the colostomy bags segment was the highest contributor to the market in 2020
  • Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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quote Ostomy Drainage Bags Market by Type (Colostomy Bags, Ileostomy Bags, Urostomy Bags, Continent Ileostomy Bags, Continent Urostomy Bags): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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