Press release
Ostomy Drainage Bags Market Expected to Reach at a CAGR of 4.1% till 2024
"Global Ostomy Drainage Bags Market" – Industry Trends and Forecast to 2024
The Global Ostomy Drainage Bags Market accounted to USD 3.1 billion in 2016 growing at a CAGR of 4.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Ostomy drainage bags are made of plastic or rubber which are used in ostomy procedures and is attached to the artificial opening to collect wastes. The bags are available in disposable and reusable types.
Major market drivers and restraints:
• Increasing incidences of cancer and chronic diseases
• Government initiatives to create awareness regarding the procedures done for treatment of various diseases
• Stringent regulatory framework
• Alternate surgical procedures available
• Weak reimbursement policies
Market Segmentation:
By product type the market for ostomy drainage bags is segmented into colostomy bags, ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags.
By procedure the ostomy drainage bags market is segmented into colostomy, urostomy, ileostomy. On the basis of usage the market is segmented into reusable, and disposable.
On the basis of end-users the ostomy drainage bags market is segmented into Hospitals, Clinics, ambulatory centers, homecare and others.
On the basis of geography, ostomy drainage bags market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Competitive Analysis:
The ostomy drainage bags market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mass spectrometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors:
Some of the major players operating in ostomy drainage bags market are B Braun Melsungen AG, Flexicare Medical Ltd., Conva tec, Inc., Coloplast A/S, Alcare Co., Ltd., Pelcin Healthcare Ltd., Salts Healthcare Ltd., Hollister, Welland Medical Ltd., Cymed Ostomy, Marlen Manufacturing & Development, Torbot Group Inc. among others.
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