Ostomy Drainage Bags Market (Types - Colostomy Bags, Ileostomy Bags, and Urostomy Bags; Use - Single-use and Multi-use Ostomy Drainage Bags) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022
Global Ostomy Drainage Bags Market: Overview
The growth in the prevalence of the bladder and other gastrological infections and cancer has struck the world hard. This is the major driving factor that is boosting the growth of global ostomy drainage bags market from 2014 to 2022. According to the report by Transparency Market Research, the market is anticipated to witness a substantial growth in the forecast period of 2014 to 2022. This growth of the market is attributed to the growth in the demand for ostomy bags that are used in hospitals and other health care institutes, says the report. Moreover, the growing cases of pancreas and uterus cancer in women are also a major factor that boosts the growth of global ostomy drainage bags market from 2014 to 2022. The report also states that during the forecast period, the market shall witness a robust 4.70% CAGR and shall generate US$ 2.75 bn in terms of revenue.
The report focuses on facets such as drivers, trends, opportunities, challenges, and opportunities that are prevalent in the global ostomy drainage bags market. These insights help the reader to make better decisions and have a sustainable future in the global ostomy drainage bags market between 2014 and 2022.
Global Ostomy Drainage Bags Market: Trends and Drivers
Rising Awareness in Geriatric Population to Drive the Growth
The global geriatric population is rising at an unprecedented rate these days. According to WHO, by 2050 one third of the global population is expected to be above 60 years of age. However, the awareness regarding the health among these people is rising rapidly. This is attracting them constantly towards medical facilities and diagnostic centers. They are also getting educated in the use of the ostomy drainage bags that can help them in the times of surgery and prevent them from further infection. This growth in the awareness among the geriatric population is the major factor that is boosting the growth of global ostomy drainage bags market from 2014 to 2022. Additionally, improving healthcare infrastructure in countries like the U.S., China, and India is also a major factor that propels the growth of market during the estimated time frame, says the report by Transparency Market Research.
Global Ostomy Drainage Bags Market: Segmentation
Colostomy Bags Segment to Dominate the Market
For better understanding of the reader, the report classifies the global ostomy drainage bags market on the basis of product type and use. Further the report classifies each category into segments that can help the readers to understand the dynamics of the market better. The product type category is segmented into colostomy bags, urostomy bags, and ileostomy bags. Among these segments, the colostomy bags segment is expected to witness the highest growth over the estimated tenure. This growth is the result of rising awareness of colostomy in developing countries like India. Moreover, the versatility of the distribution channel in for these bags also propels the dominance of the colostomy bags segment in the global ostomy drainage bags market from 2014 to 2022.
On the basis of uses, the market is segmented into single-use bags and multi-use bags. Among these segments, the multi-use bags segment is projected to dominate the global ostomy drainage bags market. This dominance is the result of demand for eco-friendly products and reduction of bio-waste that can affect the environment adversely.
Global Ostomy Drainage Bags Market: Regional Analysis
In terms of geography, the global ostomy drainage bags market is segmented into regions such as Asia Pacific, South America, North America, Europe, and Middle East and Africa. Among these regions, Asia Pacific is projected to witness highest investments by pharmaceutical companies. This is because, the cases of pancreatic and stomach cancers are quite high in India and China. Owing to these demands, the Asia Pacific shall dominates the global ostomy drainage bags market from 2014 to 2022, says the report by Transparency Market Research.
Global Ostomy Drainage Bags Market: Snapshot
As per insights, in nations, like Malaysia, Germany, Singapore, and Sweden, the quantity of more established grown-ups has gone up considerably. This extending pool of geriatric populace over the world is powering the market, as the older populace is viewed as increasingly defenseless against various sorts of malignant growths. The geriatric populace in the Asia-Pacific area was around 617.1 mn of every 2015, which represented the greater part of the world's all out old populace. It is evaluated that by 2050, Asia-Pacific will represent very nearly two-third of the world's geriatric populace.
What are the Factors Responsible for the Growth of Global Ostomy Drainage Bags Market?
- As indicated by WHO, by 2050 33% of the worldwide populace is relied upon to be over 60 years old. Be that as it may, the mindfulness in regards to the wellbeing among these individuals is rising quickly. This is drawing in them continually towards clinical offices and indicative focuses. They are additionally getting taught in the utilization of the ostomy drainage sacks that can help them in the hours of medical procedure and keep them from further disease. This development in the mindfulness among the geriatric populace is the main consideration that is boosting the development of global ostomy drainage bags market.
- The individual firms related with ostomy healthcare items have set their situations in the market by propelling inventive items addressing patients' needs and solace. The interest for ostomy packs as a real existence sparing open door has expanded among individuals as they offer highlights, for example waterproof, unbreakable, and long strength, consequently influencing the selection of these sacks. These developments are the major factors that propels the growth of global ostomy drainage bags market.
On regional perspective, Europe shall emerge as the most lucrative region of global ostomy drainage bags market. This dominance of the region is the result of improving healthcare infrastructure in the countries like, U.K., and Germany
This report provides an in-depth analysis of the global ostomy drainage bags market. The stakeholders for this report include companies involved in development, manufacturing, distribution, and commercialization of ostomy drainage bags, and new entrants planning to enter the ostomy drainage bags market. The executive summary of this report provides a snapshot of the ostomy drainage bags market, summarizing the market size, market volume, trends, and competition of different market segments at the global front.
The market overview section explains market dynamics such as drivers, restraints, and opportunities that have strong influence over the ostomy drainage bags market in current scenario and could impact the future situation of the market. Value chain analysis has been provided to enlighten the value-creating activities from a number of processes that take place in transforming raw material to final product. Event impact analysis is provided for brief understanding of the technological advancements, new product launches, and strategic decisions taken by players in the global ostomy drainage bags market. The regulatory framework section illustrates the reimbursement scenario provided by governments in major economies. Porter’s five forces analysis is also elucidated in this section to understand the overall competition in the ostomy drainage bags market, considering five different parameters that will have a strong impact on the sustainability of companies in the market. Market attractiveness analysis has been included in this section to explicate the degree of competition between different geographies. Market share is also incorporated in this section to highlight competition between key players in the competitive landscape section of the report. Average pricing analysis exemplifies the cost range of different types of bags in six geographical regions.
The global ostomy drainage bags market has been classified by types, and uses. Based on types, the global ostomy drainage bags market is differentiated into five segments, namely colostomy bags, ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags. Based on uses, the ostomy drainage bags market is categorized into two segments: single-use ostomy drainage bags and multi-use ostomy drainage bags. Market revenue in terms of USD million and market volume in terms of million units for the period between 2010 and 2022 along with the compound annual growth rate (CAGR %) from 2014 to 2022 are provided for all the above segments, considering 2013 as the base year.
Geographically, the global ostomy drainage bags market has been segmented into six regional markets: North America, Europe, Asia Pacific, Latin America (LATAM), Middle East and North Africa (MENA) and Rest of the World (RoW). This section of the report provides market estimations in terms of revenue (USD million) and volume (million) of ostomy drainage bags across six regions from 2010 to 2022. CAGR (%) for the period from 2014 to 2022 is also analyzed for all these six geographies, considering 2013 as the base year. These geographies are further segmented into major countries. North America is differentiated into the U.S. and Canada, Europe is classified as the U.K., Germany and Rest of Europe, Asia Pacific is further differentiated as India, China and Rest of Asia Pacific, LATAM market is further split into Brazil, Mexico and Rest of LATAM, and MENA region is segmented as Saudi Arabia, the U.A.E. and rest of MENA. Market revenue in terms of USD Million for the period 2010 to 2022 along with CAGR (%) from 2014 to 2022 is estimated for all these countries for ostomy drainage bags.
This report also includes recommendations to assist new entrants in establishing presence and existing market players in strengthening their position in the global ostomy drainage bags market. The report concludes with company profiles section that includes profiles of major market players. Major market players profiled in the report include Coloplast A/S, ConvaTec, Inc., Alcare Co., Ltd., B. Braun Melsungen AG, Flexicare Medical Limited, Pelcin Healthcare Ltd., Salts Healthcare Ltd., Welland Medical Ltd., and Hollister Incorporated.
Global Ostomy Drainage Bags Market, by Types
- Colostomy Bags
- Ileostomy Bags
- Urostomy Bags
Global Ostomy Drainage Bags Market, by Use
- Single-use Ostomy Drainage Bags
- Multi-use Ostomy Drainage Bags
Global Ostomy Drainage Bags Market, by Geography
- North America
- United States
- United Kingdom
- Rest of the Europe
- Rest of the Asia Pacific
Latin America (LATAM)
- Rest of the LATAM
Middle East and North Africa (MENA)
- Saudi Arabia
- United Arab Emirates (UAE)
- Rest of the MENA
- Rest of the World (RoW)
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.