Ostomy Drainage Bags Market Statistics 2021: Ready to Experience Exponential Hike by 2022

Launch of new ostomy products with desirable features and technological advancements would propel adoption of these products.

PORTLAND, OREGON, UNITED STATES, October 21, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Ostomy Drainage Bags Market by Types (Ileostomy Bags, Colostomy Bags, Urostomy Bags), Geography (North America, Europe, Asia Pacific, LAMEA) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Ostomy Drainage Bags Market size was estimated to be $2,742 million in 2015 and is expected to reach $3,524 million, growing at a CAGR of 3.6% from 2016 to 2022.

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High prevalence of colorectal cancer owing to the increase in geriatric population drives the market growth. Increase in population prone to colon cancer, urinary tract cancer, bladder cancer, colorectal cancer, inflammatory bowel disease, and chronic diseases such as ulcerative colitis and Crohn's disease that require ostomy surgery, further boosts the market growth.

High prevalence of colorectal cancer owing to the increase in geriatric population drives the market growth. Increase in population prone to colon cancer, urinary tract cancer, bladder cancer, colorectal cancer, inflammatory bowel disease, and chronic diseases such as ulcerative colitis and Crohns disease that require ostomy surgery, further boosts the market growth.

Launch of new ostomy products with desirable features and technological advancements would propel adoption of these products. says Hemali Narkhede, Manager, Healthcare Research at Allied Market Research.

Key findings of the study

Colostomy, ileostomy, and urostomy bags segments are expected to occupy highest market share, and are identified as lucrative targets for investment.

Colostomy bags segment dominated the ostomy drainage bags market in 2015.

Majority of the market share was dominated by North America in 2015, while Asia-Pacific is expected to grow at the highest rate.

Continent urostomy and Ileostomy bags segments are projected to grow at high CAGRs globally.

Comprehensive competitive analysis and profiles of major market players, such as

The key market players profiled in the report are F. Hoffmann-La Roche AG, Reprogenetics, LLC, Genea Limited, Illumina, Inc., Laboratory Corporation of America Holdings, Natera, Inc., PerkinElmer, Inc., Quest Diagnostics Incorporated, Genesis Genetics Ltd., and Reproductive Genetics Innovations LLC.

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