Ostomy Drainage Bags Market Outlook Demand Size Analysis 2022-2029

The Ostomy Drainage Bags Market is expected to grow at a CAGR of 4.60% during the forecast period 2022-2029. North America region has the highest market share in the Ostomy Drainage Bags Market, and it is further continuing its dominance during the forecast period.

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Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

The World Ageing 2019 report estimates that there were approximately 703 million people worldwide in 2019 that were 65 or older. It is anticipated that the number of elderly people will double to 1.5 billion by 2050. Globally, the proportion of people 65 and older increased from 6 % in 1990 to 9 % in 2019. By 2050, the percentage is expected to reach 16%. One in six people worldwide will be over the age of 65 by 2050, up from one in 11 in 2019.

Demand for ostomy drainage bags will rise as the elderly population with colorectal cancer increases. Additionally, a number of conditions like diabetes and obesity result in an increase in the demand for ostomy bags. As a result, the overall expansion of the market will be fueled by the rising demand for drainage bags in home care settings and their widespread availability. The business players working in the ostomy seepage sacks piece of the pie are ceaselessly zeroing in on presenting effective and reasonable items that will ultimately drive the market interest. These companies are developing a variety of products that are frequently used in hospitals and engaging in advancement and innovation that drives market expansion. Additionally, a number of players, including ConvaTec, B. Braun, and Salts Healthcare, are constantly striving to introduce novel products, such as colostomy and ileostomy bags.

As a result, the aforementioned factors raise the demand for ostomy drainage bags for improved patient care. The market will expand during the forecast period because of these factors.

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Market Segmentation:

By Type:
• Ileostomy Drainage Bags
• Colostomy Drainage Bags
• Urostomy Drainage Bags
• Others

By Pouching System:
• 1-Piece
• 2-Piece
• Flexible
• Others

By End-User:
• Hospitals
• Ambulatory Surgical Centers
• Homecare
• Others

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Listed:

Alcare Co. Ltd, B.Braun Melsungen AG, Coloplast A/S, ConvaTec Inc., Flexicare Medical Ltd, Marlen Manufacturing & Development, Pelcin Healthcare Ltd, Salts Healthcare Ltd, Torbot Group Inc., Welland Medical Ltd, among others.

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This release was published on openPR.