123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Ostomy Drainage Bags Market To Reach Usd 2,958 Mn By 2022

By Author: Chakresh Thakur
Total Articles: 487

As per the latest publication by Credence Research, Inc. “Global Ostomy Drainage Bags Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2022,” the ostomy drainage bags market was valued at USD 1,936 Mn in 2015, and is expected to reach USD 2,958 Mn by 2022, expanding at a CAGR of 6.2% from 2016 to 2022.

Browse the full report Global Ostomy Drainage Bags Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 at https://www.credenceresearch.com/report/ostomy-drainage-bags-market

Market Insights

High prevalence of colorectal cancer, rapidly growing geriatric population pool and gradual adoption of ostomy procedures have together rendered a steady growth to the global ostomy drainage bags market. Ostomy is a surgical procedure for creating an opening (stoma) for body waste expulsion. The exact statistics regarding the number of ostomates could not be done, however it is estimated that this number ranges between 450,000 to 800,000, whereas the average age of patients undergoing ostomy is 68. With the overall growth in geriatric population, the number of ostomy procedures is anticipated to augment significantly. Adoption of novel ostomy drainage products covered under reimbursement policies would further encourage patients to improvise in terms of product usage and also adopt disposable product options.

Among the different product types, colostomy drainage bags are the largest product segment standing at almost half of the market share in 2015. High prevalence of colorectal cancer and rising awareness about colostomy as an convenient treatment and disease management option facilitate the dominance of this segment. Also establishment of several ostomy advocacy groups and organizations about life with ostomy further adds future prospects to the market. Patient education and propagation of availability of advanced colostomy products thereby boost the demand for colostomy drainage bags in the global market.

In terms of geographical distribution, North America and Europe together capture more than 60% share of the global ostomy drainage bags market. Here again, high awareness among both caregivers and patients play a vital role in widespread adoption of ostomy drainage bags in these regions. Additionally, Latin America and Asia-Pacific are anticipated to be the fastest developing regional markets during the forecast period. Rising incidence of colorectal cancer in the region, growing prevalence of sedentary lifestyle in emerging economies facilitate the growth of number of ostomies being performed and thus the demand for ostomy drainage bags.

The ostomy drainage bags market, is moderately competitive and is characterized with presence of several region specific market players. Though the market is experience is steadily progressing in terms of revenue generation, the volume growth of the same relatively slacks. Pelican Healthcare, Alcare Co., Coloplast A/S, ConvaTec, Inc. are some of the notable players in the global ostomy drainage bags market.

Total Views: 370Word Count: 446See All articles From Author

Business Articles

1. Globe Eservice Center
Author: Globe eService Center

2. The Hand Embroidered Pashmina Shawl
Author: doortothehimalayas

3. Worth Buying Used Imac
Author: Unknown Member

4. Mep Engineering Firms And Mep Engineering Services Can Benefit Your Construction Project
Author: BIM Engineering US.,L.L.C.

5. Benefits And Uses Of Cbd Oil
Author: Unknown Member

6. Made To Measure Store In Usa
Author: Unknown Member

7. Specialist Property Tax Accounting
Author: Unknown Member

8. Professional & Expert Locksmith
Author: Unknown Member

9. Soccer Health Benefits
Author: Unknown Member

10. Main Street Medical & Skin Centre In Australia
Author: Unknown Member

11. Reliable Emergency Locksmith
Author: Unknown Member

12. Reliable Pest And Ant Control Services In Citrus Heights, Elk Grove And Sacramento
Author: Eizen

13. Online National Judgements Search Engines
Author: Lawyer SServices

14. The Future Of Legal Research - Legal Database
Author: Lawyer SServices

15. Convenient Tips On How To Print To Go Menus And Brochures
Author: Vikram Kumar

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: