Rise in occurrence of colorectal cancer, bladder cancer, urinary tract cancer, Crohn’s disease, inflammatory bowel disease; growth in geriatric population

PORTLAND, OREGON, UNITED STATES, March 10, 2022 /EINPresswire.com/ -- 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.

According to the report published by Allied Market Research, the global 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, 2022 - 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Launch of new ostomy products with desirable features and technological advancements would propel adoption of these products".

Key Findings Of The Ostomy Drainage Bags Market 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 2021.

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.

The report offers detailed segmentation of the global Ostomy Drainage Bags Market based on type, application, and region.

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North America was the largest regional market, followed by Europe due to moderate reimbursement scenario in these regions. Asia-Pacific is estimated to grow at the highest CAGR of 6.7% during the forecast period.

Rapid launch of products with desirable features

The respective firms associated with ostomy healthcare products have set their positions in the market by launching innovative products meeting patients’ needs and comfort. The demand for ostomy bags as a life-saving opportunity has increased among people as they offer features such as skin-friendliness, waterproof, unbreakable, and long durability, thus affecting the adoption of these bags.

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.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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