The global Ostomy Drainage Bags market is anticipated to grow at a considerable CAGR of around 4.2% during the forecast period (2021-2027). The key factor to drive the market growth is the increasing geriatric population in countries such as the US and Europe with diseases including colorectal cancer, bladder cancer, urinary tract cancer, and others. For instance, according to the American Cancer Society, the estimated number of colorectal cancers in 2021 are 104,270 new cases of colon cancer and 45,230 new cases of rectal cancer. Every year the prevalence of colorectal cancer increases by 2% in younger people aged less than 50. Furthermore, according to the US National Library of Medicine National Institutes of Health almost 80.500 cases of bladder cancer were diagnosed in the US in 2019 that was nearly 4.6% of all cancer diagnoses. Therefore, this makes bladder cancer the sixth most common cancer diagnosis in the US.
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Further, the increasing prevalence of Inflammatory Bowel Diseases (IBD) also resulted in a rise in demand for these drainage bags attributing to the growth of the global ostomy drainage bags market. For instance, according to the 2019, National Library of Medicine study published in Lancet Gastroenterology & Hepatology, the number of people with IBD increased from 37 million to more than 68 million between 1990 and 2017, representing an 851% increase in global prevalent cases of IBD.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Ø Segment Covered-
· By Type
· By use
· By End-User
Ø Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
Ø Competitive Landscape- ConvaTec Group Plc., Flexicare (Group) Limited, B. Braun Melsungen AG, ALCARE Co., Ltd, Salts Healthcare Ltd, and Welland Medical Ltd., and others.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
· How COVID-19 impacted the market?
· Deviation from the pre-COVID-19 forecast
· Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
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A full Report of Global Ostomy Drainage Bags Market is Available at: https://www.omrglobal.com/industry-reports/ostomy-drainage-bags-market
Global Ostomy Drainage Bags Market Report Segment
By Type
· Colostomy Bags
· Ileostomy Bags
· Urostomy Bags
· Others
By Use
· Single-Use (Closed-End)
· Multi-Use (Drainable)
End-User
· Hospitals and Clinics
· Homecare
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
