Global Ostomy Drainage Bags Market to Expand at 4.7% CAGR due to the High Prevalence of Colorectal Cancer Worldwide

A recently released report from Transparency Market Research (TMR) forecasts that the global ostomy drainage bags market will expand at a CAGR of 4.70% from 2014 to 2022. TMR, a market intelligence firm, states that by 2022, the global ostomy drainage bags market will reach US$2759.5 mn from US$1829.6 mn in 2013. The report, titled ‘Ostomy Drainage Bags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022’, is available for sale on the company website.  

View Report @ http://www.transparencymarketresearch.com/ostomy-drainage-bags-market.html

According to this market research report, factors that drive the global ostomy drainage bags market are rapidly growing geriatric population and the rising incidence of ulcerative colitis, IBD, Crohn’s disease, bladder cancer, and colorectal cancer. Ostomy draining bags refer to prosthetic medical devices that are used for collecting bodily wastes that get excreted after an Ostomy procedure. In this procedure, wastes are diverted from biological systems such as the bladder, ileum, and the colon into an abdominal stoma that is created manually.  

Heightened awareness about the Ostomy procedure is another key factor that fuels the demand for ostomy drainage bags. Greater number of cases of IBD (inflammatory bowel disease) and Crohn’s disease is also a prominent factor propelling the global demand for ostomy drainage bags. This TMR report segments the global ostomy drainage bags market on the basis of types, use, and geography. On the basis of types, this market is categorized into Urostomy bags, ileostomy bags, colostomy bags, and others. Owing to factors such as heightened awareness about colostomy, high incidence of colorectal cancer, and a vast range of purchase options for colostomy bags, the colostomy bags segment dominates the global ostomy drainage bags market. The demand for colostomy bags is particularly high in Latin America and Asia Pacific.  

Based on uses, the global ostomy drainage bags market is segmented into multi-use Ostomy drainage bags and single-use Ostomy drainage bags. In 2013, the market for multi-use Ostomy drainage bags held the largest share of the overall market. The high incidence of ulcerative colitis and IBD Geographically, this report segments the global ostomy drainage bags market into Asia Pacific, Latin America, Europe, North America, the Middle East, North Africa, and Rest of the World. In 2013, Europe was the regional leader in the global ostomy drainage bags market because of economic stability and favorable reimbursement policies of the government. However, it is anticipated that the Asia Pacific ostomy drainage bags market will witness robust growth during the forecast period owing to the rising incidence of colorectal cancer in the region.  

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The report identifies the following companies in the global ostomy drainage bags market: Welland Medical Ltd., Salts Healthcare Ltd., Pelcin Healthcare Ltd., Hollister Incorporated, ConvaTec Inc., Coloplast A/S, B. Braun Melsungen AG, and Alcare Co Ltd. amongst others. 

Global Ostomy Drainage Bags Market, by Types 

Colostomy Bags
Ileostomy Bags
Urostomy Bags
Global Ostomy Drainage Bags Market, by Use

Single-use Ostomy Drainage Bags
Multi-use Ostomy Drainage Bags
Global Ostomy Drainage Bags Market, by Geography

North America
United States
Canada
Europe
United Kingdom
Germany
Rest of the Europe
Asia Pacific
India
China
Rest of the Asia Pacific
Latin America (LATAM)
Brazil
Mexico
Rest of the LATAM
Middle East and North Africa (MENA)
Saudi Arabia
United Arab Emirates (UAE)
Rest of the MENA
Rest of the World (RoW) 

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.  

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. 

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This release was published on openPR.