Ostomy Drainage Bags Market To Reach $2.40 Billion By 2030 | Coloplast A/S, Convatec Inc., Flexicare Ltd, Hollister

Ostomy Drainage Bags Market byy

Colostomy, ileostomy, and urostomy bags segments are expected to occupy highest market share, and are identified as lucrative targets for investment.

PORTLAND, OREGON, UNITED STATES, September 15, 2022 /EINPresswire.com / -- The global Ostomy Drainage Bags Market generated $1.65 billion in 2020, and is expected to reach $2.40 billion by 2030, witnessing a CAGR of 3.8% from 2021 to 2030. High prevalence of colorectal cancer owing to the increase in geriatric population drives the market growth. Increase in population prone to colon cancer, urinary tract cancer, bladder cancer, colorectal cancer, inflammatory bowel disease, and chronic diseases such as ulcerative colitis and Crohn's disease that require ostomy surgery, further boosts the market growth.

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Surge in prevalence of inflammatory bowel diseases & colorectal cancer cases and development of new ostomy products by a large number of key players drive the growth of the global ostomy drainage bags market. Moreover, the launch of innovative products that cater to needs and comfort of patients and rise in number of approvals by regulatory bodies create new opportunities in the coming years.

Covid-19 Scenario:

The demand for ostomy drainage bags reduced considerably due to postponement or cancellation of many ostomy surgeries. This is due to shift in hospital resources to take care of increase in number of Covid-19 infected patients.
Only acute ostomy surgeries were carried out during the initial stages of the pandemic. However, the demand is expected to rise post-pandemic as the number of surgeries increase steadily.
The report offers detailed segmentation of the global ostomy drainage bags market based on type and region.

Based on type, the colostomy bags segment contributed to the highest share in 2020, accounting for around one-third of the total market share, and is estimated to maintain its dominant share by 2030. Moreover, this segment is projected to manifest the highest CAGR of 4.1% from 2021 to 2030. The report also analyzes the segments such as ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags.

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Based on region, North America accounted for the highest share in 2020, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 4.1% during the forecast period.

Leading players of the global ostomy drainage bags market analyzed in the research include ALCARE Co. Ltd., Coloplast A/s, B. Braun Melsungen AG, Flexicare Ltd., ConvaTec Inc., Oakmed Healthcare, Hollister Incorporated, Salts Healthcare Ltd., Pelcin Healthcare Ltd., and Welland Medical Ltd.

Regional scope

North America
Europe
Asia Pacific
Latin America
MEA

Country scope

U.S.
Canada
Germany
U.K.
France
Italy
Spain
Japan
China
India
South Korea
Australia
Brazil
Mexico
South Africa
Saudi Arabia

We also Offers Regional and Country Reports-

Japan Ostomy Drainage Bags Market
South Korea Ostomy Drainage Bags Market
Singapore Ostomy Drainage Bags Market
China Ostomy Drainage Bags Market
Indonesia Ostomy Drainage Bags Market
Australia Ostomy Drainage Bags Market
Taiwan Ostomy Drainage Bags Market

“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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Allied Analytics LLP
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