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Ostomy Drainage Bags Market to Reach $2.67 Billion by 2028 with a CAGR of 4.3%, Driven By Rising Incidence of Bladder Cancer

06-14-2024 05:05 PM CET | Health & Medicine

Press release from: The Business Research Company

Ostomy Drainage Bags Market Report

Ostomy Drainage Bags Market Report

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ostomy Drainage Bags Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $35.1 billion In 2028 At A CAGR Of 12.2%:

The ostomy drainage bags market size has grown steadily in recent years. It will grow from $2.17 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to rising incidence of ostomy procedures, improvements in material technologies, healthcare expenditure, healthcare reimbursement policies.

The ostomy drainage bags market size is expected to see steady growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to increasing prevalence of chronic diseases, patient education and awareness programs, investment on healthcare research. Major trends in the forecast period include rising preference for eco-friendly ostomy products, expanding range of pediatric ostomy products, increased focus on patient education and support, integration of smart technologies.

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Ostomy Drainage Bags Market Major Segments
The ostomy drainage bags market covered in this report is segmented -
1) By Type: Colostomy Bags, Ileostomy Bags, Urostomy Bags, Continent Ileastomy Bags, Continent Urostomy Bags
2) By Clinical Application: Colorectal Cancer, Bladder Cancer, Colonic Diverticulitis, Inflammatory Bowel Disease, Other Diseases
3) By Usage Type: Single-Use Ostomy Drainage Bags, Multi-Use Ostomy Drainage Bags
4) By End User: Hospitals, Home Care Setups

Key Driver - Ostomy Drainage Bags Market Surges With Demand Amidst Rising Incidence Of Bladder Cancer

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.

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Prominent Trend - Pelican Healthcare's Modavi Launch Pioneers Ostomy Drainage Bags Market With Lifestyle-Centric Solutions

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.

Ostomy Drainage Bags Market Players
Major companies operating in the ostomy drainage bags market report are Alcare Co. Ltd., B. Braun Melsungen AG, Coloplast A/S, Hollister Inc., Pelcin Healthcare Ltd., Salts Healthcare Ltd., Welland Medical Ltd., Marlen Manufacturing and Development Co., Torbot Group Inc., Cymed Ostomy Co., Prowess Care, Goodhealth Inc., Genairex Inc., EuroMed Inc., Safe n' Simple LLC, 3M Company, Smith & Nephew plc, BSN Medical GmbH, Flexicare Medical Ltd., C.R. Bard Inc., Medline Industries Inc., Nu-Hope Laboratories Inc., Peak Medical Products Inc., Rusch Inc., Securi-T USA, Delta A Healthcare, Hubei Hendry Medical Appliance Co. Ltd., ConvaTec Inc., Command Medical Products Inc., Fortis Medical Products, Genesis Plastics Welding Inc., Moore Medical LLC, North American Latex Corp., Perma-Type Company Inc., Schena Ostomy Technologies Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the ostomy drainage bags market share in 2023. 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, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ostomy Drainage Bags Market Report Structure
3. Ostomy Drainage Bags Market Trends And Strategies
4. Ostomy Drainage Bags Market - Macro Economic Scenario
5. Ostomy Drainage Bags Market Size And Growth
…..
27. Ostomy Drainage Bags Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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Email: info@tbrc.info

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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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