Ostomy Drainage Bags Market Key Players Analysis -Coloplast A/S (Denmark), ConvaTec (UK), Hollister Incorporated (US), Welland Medical Limited (UK), Wellspect HealthCare (Sweden)

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

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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The most recent market research report estimates that the global market for ostomy drainage bags will be worth US$ 3,274.80 million in 2021 and will grow at a compound annual growth rate (CAGR) of 4.42% to reach US$ 4808.06 million by 2030. An ostomy is a surgically made hole (stoma) in the body. Waste materials from the intestine and bladder, including mucus, faeces, and urine, are collected by the ostomy drainage bags. Depending on the state of the patient, an ostomy may be either temporary or permanent.

The high incidence of urologic disorders and colorectal cancer, rising demand for home care services, and more global campaigns to enhance awareness of incontinence are the main factors driving the market's expansion. Rising product Innovations by major market players to boost their operations, growing technological improvements, and growing public awareness of ostomy care products are all expected to present opportunities for market expansion in the years to come. ConvaTec Group Plc launched the Natura Convex Cut-to-Fit Accordion Flange in 2017 to facilitate and ease the application of two-piece ostomy pouches for stoma patients. Convex options are now available in ConvaTec's Accordion Flange range, meeting specific customer needs and preferences in a developing ostomy care market segment.
The Need for ostomy drainage bags has surged globally due to the rising incidence of colorectal and bladder cancer. According to the American Cancer Society, for example, around 149,500 people in the United States are predicted to receive a colorectal cancer diagnosisin 2021, and approximately 52,980 people are likely to lose their lives to the disease. Over the course of the projected period, these factors are anticipated to drive market growth.
However, the market size may be hampered over the projection years by the high risk of complications, unfavorable reimbursement policies, and the availability of alternative surgical treatments.

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Due to the rapid adoption of cutting-edge medical technology and the rising number of cancer patients, the Asia Pacific area is predicted to have the fastest rate of growth in the coming years.

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.

Market Segments

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

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

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

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

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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

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This release was published on openPR.