Published: Aug, 2018

The global ostomy drainage bags market is a highly competitive market with a large number of local and international players operating across the globe, states a new market research study by Transparency Market Research. The key players in the market are focusing on the research and development activities in order to enhance their product portfolio and maintain their leading position throughout the forecast period. In addition to this, the rising number of strategic collaborations and mergers and acquisitions is projected to offer potential growth opportunities for the market players in the next few years. Some of the leading players operating in the ostomy drainage bags market across the globe are Pelcin Healthcare Ltd., B. Braun Melsungen AG, Flexicare Medical Limited, Salts Healthcare Ltd., ALCARE Co. Ltd., and Welland Medical Ltd. As per the study, the competition among the players is estimated to get stiff over the years.

According to the market research study by Transparency Market Research, the global market for ostomy drainage bags is expected to reach a value of US$2.75 bn by the end of 2022. The market is predicted to register a healthy 4.70% CAGR between 2014 and 2022.

Request a Sample of Ostomy Drainage Bags Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=325

Europe to Register Strong Growth Rate in Coming Few Years

The global ostomy drainage bags market has been classified on the basis of geography into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among these, Europe is expected to hold for a large share of the market and maintain its leading position throughout the forecast period. The strong growth of this region can be attributed to the rising disposable income of consumers and the willingness of patients to spend on healthcare requirements. Moreover, the favorable reimbursement policies by governments is expected to support the growth of the Europe market in the near future. On the other hand, Asia Pacific is expected to witness a strong growth rate in the next few years. The rising prevalence of colorectal cancer, especially in developing economies is estimated to encourage the growth of this segment throughout the forecast period.

In terms of product type, the global ostomy drainage bags market has been classified into urostomy bags, colostomy bags, and ileostomy bags. Among these, the colostomy bags segment is predicted to lead with a large share of the global market in the next few years. The high demand for colostomy bags, thanks to the rising awareness among consumers regarding colostomy and the increasing geriatric population are some of the key factors that are projected to accelerate the growth of this segment in the next few years. In addition to this, the rising contribution from the developing economies in Asia Pacific and Latin America is another factor that is likely to boost the growth in the coming years.

Increasing Patient Awareness to Encourage Market Growth in Coming Years

The rising cases of several diseases, including urinary tract cancer, colorectal cancer, and bladder cancer is one of the key factors that is estimated to enhance the growth of the global ostomy drainage bags market throughout the forecast period. The rising number of health disorders owing to the unhealthy lifestyle and the rising geriatric population are projected to accelerate the growth of the market in the near future. On the flip side, the medical risks by using ostomy bags is a major factor that is likely to restrict the growth of the market in the near future. Nonetheless, the favorable government reimbursement policies and the rising awareness among people are likely to offer potential growth opportunities for the market players in the near future.

This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “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.”

Key Takeaways:

  • The favorable government policies and the development of the healthcare sector to encourage the growth of the global ostomy drainage bags market in the coming years.
  • Technological advancements and research activities to accelerate the growth of the ostomy drainage bags market across Europe in the near future.

The global ostomy drainage market has been segmented as below:

Global Ostomy Drainage Market, by Types

  • Colostomy Bags
  • Ileostomy Bags
  • Urostomy Bags

Global Ostomy Drainage Market, by Use

  • Single-use Ostomy Drainage Bags
  • Multi-use Ostomy Drainage Bags

Global Ostomy Drainage Market, by Region

  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • Rest of the Europe
  • Asia Pacific
    • India
    • China
    • Rest of the Asia Pacific
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • 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)

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com  
Website: https://www.transparencymarketresearch.com 

.