Colostomy is an operating procedure, in which a surgeon brings one end part of the large intestine or colon out through the abdominal wall. During this method, one end part of the colon is cut and diverted toward the abdominal wall to make stoma or hole. A colostomy bag or small pouch is then attached over the hole or stoma to collect unwanted products that would generally pass through a rectum. Colostomy is carried out to treat numerous disorder of the colon, including cancer, obstruction, ischemia, inflammatory bowel disease, traumatic injury, or ruptured diverticulum. Provisional colostomies are made to divert stool from injured or ailing point of the colon, for healing. Permanent colostomies are performed when there is a need to permanently remove or block distal bowel. Permanent colostomy is primarily recommended in case of colorectal cancer. Moreover, according to NHS data, nearly 6,400 permanent colostomies are performed in the U.K. each year.
Based on product type, the global colostomy bags market can be bifurcated into colostomy drainage bags and colostomy care accessories. The colostomy drainage bags segment can be classified into one piece bags and two piece bags. The one piece bags sub-segment is likely to expand at significant pace due to its adhesive flange property which makes the bag easy to manage and comfortable for any kind of skin. In terms of distribution channel, the market can be categorized into hospital pharmacy, retail pharmacy, and online stores. The hospitals segment is likely to grow at a rapid pace because colostomy is primarily carried out in hospitals. The need for stoma care is a key driver of the colostomy bags market. Rise in prevalence of colorectal cancer is another factor fueling the growth of the market. Increase in prevalence of crohn’s diseases (type of inflammatory bowel disease) across the globe, especially among people aged 60, drives the usage of colostomy drainage bags and accessories. Several companies are coming up with advanced technologies to develop colostomy bags such as one piece, two piece pouching systems, etc. However, medical risks such as skin irritation pertaining to the usage of colostomy bags is likely to hamper the growth of the market.
In terms of region, the global colostomy bags market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. The region is projected to hold a significant share of the global market due to increase in number of colorectal cancer patients, improved health care facilities, and rise in geriatric population with irritable bowel syndrome. According to the National Cancer Institute, an estimated of 1,317,247 people were living with colon and rectum cancer in the U.S. in 2014 and the number is increasing. Growing needed of surgery, increase in adoption of different drainage bags for advanced health care, and rise in awareness regarding treatment of colorectal diseases are factors that boost the market in Europe. Increase in geriatric population, surge in the number of smokers, and rise in incidence of colorectal cancer in Asia Pacific are likely to propel the colostomy bags market in the region during the forecast period. Advancements in surgeries, increase in per capita income, and rise in incidence of colon diseases are likely to augment the market for colostomy bags in Middle East & Africa during the forecast period.
Major players operating in the global colostomy bags market are Marlen Manufacturing, Alcare, CliniMed, Cymed Ostomy, Flexicare Medical, Genairex, Hill-Rom Holdings, NB Products, Torbot Group, B. Braun, Coloplast, and ConvaTec, among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.