Global ostomy drainage bags market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024-2031). The market growth is driven by the growing product developments, coupled with the increasing prevalence of colorectal cancer and bladder cancer. Additionally, the growing geriatric population in Europe and the US with urinary incontinence issues is also expected to drive market growth. Moreover, the growing awareness and acceptance of ostomy drainage bags in emerging economies is presenting growth opportunities for the segment. However, the associated side effects of the market are restraining the market growth during the forecast period.
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The global ostomy drainage bags market is segmented by type (colostomy bags, ileostomy bags, urostomy bags, and others) by use (single-use, and multi-use), by end-user (hospitals & clinics and homecare), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
Market Dynamics
Colostomy bags are estimated to have a significant market share, attributed to the increasing prevalence of colorectal cancer. Additionally, the increasing demand for colostomy bags among the geriatric population with urinary, colorectal, and bladder tract problems to eliminate leakage contributes to the market growth. Furthermore, the rising government’s initiatives to raise awareness about colostomy procedures used to treat diseases such as colorectal cancer are driving market growth. Technological advancements resulting in the development of colostomy bags featuring more durable, skin-friendly, unbreakable, and waterproof bags are driving the market growth.
North America is projected to have a significant market share, attributed to the rising prevalence of kidney diseases, diabetes, and the developed healthcare industry in countries such as the US. In addition, the presence of a large number of manufacturers in the region drives the regional market growth. Furthermore, the rising prevalence of colorectal cancer, lung cancer, and urinary tract cancer along with technological advancements in ostomy products is driving the market.
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Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to the rising prevalence of colorectal cancer in emerging economies such as the Philippines, Turkey, and Indonesia. Additionally, government support and rising investments in the healthcare sectors in developed economies such as Australia and Japan fuel the regional market growth. Furthermore, the rising prevalence of inflammatory bowel disease and Chron’s disease is driving the market in the region.
The major players in the global ostomy drainage bags market include ConvaTec Group Plc., Flexicare (Group) Limited, B. Braun Melsungen AG, ALCARE Co., Ltd, Salts Healthcare Ltd, Welland Medical Ltd., and others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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