From a market worth of roughly US$ 1.62 Bn in 2021, the demand for ostomy drainage bags is expected to expand steadily at a CAGR of 3.5% from 2021 to 2031. According to forecasts from Persistence Market Research, colostomy drainage bags currently account for a sizable 60% of the global market. The ostomy drainage bags market made up over 56% of the global ostomy care industry, which is expected to reach US$ 2.8 Bn in 2020.
Request for Free Sample Copy@ https://www.persistencemarketresearch.com/samples/3650
Over the previous five years, the ostomy drainage bags market grew at a CAGR of 2%. Since a few years ago, there has been a noticeable rise in demand for ostomy drainage bags due to the rising frequency of chronic diseases among the elderly population.
Worldwide, the number of chronic diseases requiring medical management is rising, both in hospital settings and in settings for home care. These require procedures including colostomies, ileostomies, and ureostomies as well as the usage of either single-use or reusable drainage bags. The market for ostomy care products is benefiting from all of these factors.
Companies
-
- Hollister Incorporated
- Alcare Co. Ltd.
- Coloplast Group
- ConvaTec, Inc
- Braun Melsungen AG
- Torbot Group Inc.
- Flexicare Medical Ltd
- Marlen Manufacturing & Development
- Pelcin Healthcare Ltd
- Salts Healthcare Ltd
- Welland Medical Ltd
- Prowess Care
- Oakmed Healthcare
- Goodhealth Inc.
Get up to 20% discount on Full Report Purchase @ https://www.persistencemarketresearch.com/checkout/3650
What’s Restraining Demand Growth of Ostomy Drainage Bags?
Although application of ostomy drainage bags is beneficial to patients who suffer from colorectal injuries due to trauma, or patients suffering from colorectal cancers, inflammatory bowel disease, etc., there have been various recorded cases of ostomy drainage bag complications such as skin irritation around the surgical site, leakage from the surgical site, and dehydration.
Unfavourable reimbursement policies by insurance companies also hamper ostomy drainage bags market growth. The tendency of patients and caregivers to go for alternative treatments to ostomy decreases the overall usage of ostomy care bags and accessories.
Main Segments Covered in Ostomy Drainage Bags Market Industry Research
By Product
-
- Colostomy Drainage Bags
- Ileostomy Drainage Bags
- Urostomy Drainage Bags
By Modality
-
- Single-Use Ostomy Drainage Bags
- Multi-Use Ostomy Drainage Bags
By End User
-
- Ostomy Drainage Bags for Hospitals
- Ostomy Drainage Bags for Clinics
- Ostomy Drainage Bags for Surgical Centres
- Ostomy Drainage Bags for Home Care Settings
- Ostomy Drainage Bags for Diagnostic Laboratories
- Ostomy Drainage Bags for Research and Academic Institutes
Request For Customization @ https://www.persistencemarketresearch.com/request-customization/3650
Competitive Landscape
-
- Key players are focusing on novel and innovative approaches for the development of new techniques driven by emerging cases of different diseases and lack of advanced methods for efficient detection.
- The strategy of expansion, new product launches, and approvals by key manufacturers is further strengthening their market presence.
- In June 2021, Welland Medical announced a product launch to its ostomy pouch range called Aurum® Plus. This new innovative product was made in order to increase patient comfort in every way possible.
About Us
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Contact Us
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]