Global Ostomy Drainage Bags Market Outlook 2023: Forecast Market Size, Growth Rate And Key Industry Drivers
22 May, 2023
The global ostomy drainage bags market is expected to grow from $2.13 billion in 2022 to $2.21 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ostomy drainage bags market is expected to grow to $2.55 billion in 2027 at a CAGR of 3.6%.
Global Ostomy Drainage Bags Market Key Driver
The rising prevalence of bladder cancer is expected to drive demand for ostomy drainage bags in the coming years. Bladder cancer develops when the cells that make up the urinary bladder begin to proliferate uncontrollably. As more cancer cells proliferate, they form a tumor and spread to other parts of the body over time. Drainable ostomy bags allow users to empty and reuse their pouch contents. Drainable bags may be preferable for people suffering from urine-based diseases. For instance, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, in 2022, in the USA, there were about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and there were about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women). Therefore, increasing in bladder cancer is driving the demand for the ostomy drainage bags market.
Get a sample of the global ostomy drainage bags market reportGlobal Ostomy Drainage Bags Market Segments
The global ostomy drainage bags market is segmented:
1) By Type: Colostomy Bags, Ileostomy Bags, Urostomy Bags, Continent Ileastomy Bags, Continent Urostomy Bags
2) By Clinical Application: Colorectal Cancer, Bladder Cancer, Colonic Diverticulitis, Inflammatory Bowel Disease, Other Diseases
3) By Usage Type: Single-Use Ostomy Drainage Bags, Multi-Use Ostomy Drainage Bags
4) By End User: Hospitals, Home Care Setups
5) By Geography: The regions covered in the ostomy drainage bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global ostomy drainage bags market.
Major Ostomy Drainage Bags Industry Players
Alcare Co. Ltd., B. Braun Melsungen Aktiengesellschaft, Coloplast A/S, Convatec, Hollister Inc., Pelcin Healthcare Ltd., Salts Healthcare Ltd., Welland Medical Ltd., Marlen Manufacturing and Development, Torbot Group Inc., Cymed Ostomy, Prowess Care, and Goodhealth Inc.
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Ostomy Drainage Bags Market Overview
An ostomy urinary drainage bag is a device connected to a catheter that aids in the drainage and collection of urine. It is used when there is a problem with the bladder or urine. Typically, ostomy bags are coated in a liquid-impervious material that allows urine to pass through.
Ostomy Drainage Bags Global Market Report 2023 provides data on the global ostomy drainage bags market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ostomy drainage bags market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.