Ostomy Drainage Bags Market Set to Reach $4.8 Billion by 2030 with a 4.42% CAGR.

Insightace Analytics 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 and Other Diseases), Usage Types (Single-use Ostomy Drainage Bags and Multi-use Ostomy Drainage Bags), Sales Channel (Hospitals and Specialty clinics, Home care settings and Ambulatory Surgical Centers), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by Insightace Analytics, the global ostomy drainage bags market was valued at US$ 3.27 Billion in 2021. It is expected to reach US$ 4.80 Billion by 2030, with a CAGR of 4.42% during a forecast period of 2022-2030.

A colostomy bag is a plastic bag placed over a stoma in the abdominal wall to collect feces from the digestive tract. After that, this mechanism collects and stores the urine. The pouch should be emptied at around a third of its capacity. Some ostomates favor using the toilet while seated and emptying between their legs. Urine or stool collection with ostomy drainage bags is typically done following surgery. One advantage could be extended skin barrier wear time, leakage prevention, odor reduction, and simplicity of pouch emptying.

Ostomy drainage bags market competitors consistently concentrate on producing effective and reasonably priced items that will eventually fuel market demand. In addition to creating various items frequently utilized in medical settings, these producers focus on development and innovation, which fuels market expansion. In addition, various industries, including healthcare, are continually working to offer unique products like colostomy bags and ileostomy bags. Therefore, the abovementioned issues raise the demand for ostomy drainage bags for better patient care. Demand for ostomy drainage bags will rise as the senior population with colorectal cancer increases. It is anticipated that the elderly population base will increase significantly more quickly than the younger population. Geriatrics are more prone to chronic diseases than adults since they have a weaker immune system. Additionally, diseases like diabetes and obesity raise the need for ostomy bags.

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North America is anticipated to majorly contribute to the ostomy drainage bags market over the forecast years due to the inflated prevalence of chronic diseases in this region. The increasing number of older adults with cancer and other conditions will support regional expansion. Additionally, the presence of numerous manufacturers in this area guarantees the expansion of the sector as a whole, which will fuel growth. In addition, the Asia Pacific ostomy drainage bags market is expected to grow significantly during the forecast period related to the increase in inflammatory bowel disease incidence. In the years to come, it is also projected that the region's market for ostomy drainage bags will expand due to the aging population and rising healthcare infrastructure development costs.

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), B. Braun Melsungen AG (Germany), Flexicare Medical Limited (UK), Salts Healthcare Limited (UK), Pelcin Healthcare Limited (UK), ALCARE Co., Ltd. (Japan), Romsons (India), Schena Ostomy Technologies, Inc. (US), Torbot Group, Inc. (US), and others.

Recent collaborations and agreements in the market:
• In March 2022, B. Braun decided to sell its hospital and medical services operations in Colombia. The dialysis facilities and about 230 clinical staff members will be transferred to the regional business Grupo Uros. Over the past eight years, up to 2,000 patients have received top-notch dialysis services from B. Braun.
• In August 2021, three new products from 3M India were released in the automotive market: antimicrobial smoggy, AC vent cleaner and foam, and AC evaporator cleaner. We expect new launches to rise as the economy returns to normalcy.

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Market Segments
Global Ostomy Drainage Bags Market, by Products, 2022-2030 (Value US$ Mn)
• Colostomy Bags
• Ileostomy Bags
• Urostomy Bags
• Continent Ileostomy Bags
• Continent Urostomy Bags
Global Ostomy Drainage Bags Market, by Clinical Applications, 2022-2030 (Value US$ Mn)
• Colorectal Cancer
• Bladder Cancer
• Colonic Diverticulitis
• Inflammatory Bowel Disease
• Other Diseases
Global Ostomy Drainage Bags Market, by Usage Types, 2022-2030 (Value US$ Mn)
• Single-use Ostomy Drainage Bags
• Multi-use Ostomy Drainage Bags
Global Ostomy Drainage Bags Market, by Sales Channel, 2022-2030 (Value US$ Mn)
• Hospitals and Specialty clinics
• Home care settings
• Ambulatory Surgical Centers
Global Ostomy Drainage Bags Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Ostomy Drainage Bags Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Ostomy Drainage Bags Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Ostomy Drainage Bags Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Ostomy Drainage Bags Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Ostomy Drainage Bags Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global ostomy drainage bags market
 To receive an industry overview and future trends of the ostomy drainage bags market
 To analyze the ostomy drainage bags market drivers and challenges
 To get information on the ostomy drainage bags market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the ostomy drainage bags market industry

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This release was published on openPR.