Ostomy Drainage Bags Market Anticipated To Reach USD 2.40 Billion By 2030

PORTLAND, OREGON, UNITED STATES, June 5, 2024 /EINPresswire.com/ -- Alarming rise in prevalence of disorders such as colorectal cancer, inflammatory bowel diseases, rise in government & private funds for development of healthcare sectors, and increase in number of key players for ostomy drainage bags are expected to notably contribute toward the growth of the global ostomy drainage bags market during the forecast period.

According to the report, the global radiology information system industry generated $1.05 billion in 2020, and is expected to reach $2.14 billion by 2030, witnessing a CAGR of 7.0% from 2021 to 2030.

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Key Takeaways:

Colostomy Bags segment is projected to be the dominating segment throughout the forecast period.

Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 4.1% during the forecast period.

Factor that fuel the growth of the ostomy drainage bags market size is increase in demand for ostomy by geriatric population.

Surge in prevalence of inflammatory bowel diseases & colorectal cancer cases and development of new ostomy products by a large number of key players drive the growth of the global ostomy drainage bags market. Moreover, the launch of innovative products that cater to needs and comfort of patients and rise in number of approvals by regulatory bodies create new opportunities in the coming years.

Market Segmentation:

By Type:

Colostomy Bags: Used for patients who have undergone colostomy surgery.
Ileostomy Bags: Used for patients with an ileostomy.
Urostomy Bags: Used for patients with a urostomy.

By Usage:

Drainable Bags: Designed to be emptied and reused for a certain period.
Closed-End Bags: Intended for single-use and are disposed of after being filled.

By System:

One-Piece Systems: The bag and skin barrier are combined into a single unit.
Two-Piece Systems: The bag and skin barrier are separate, allowing the bag to be changed without removing the barrier.

By End-User:

Hospitals: Large healthcare facilities where surgeries and initial recovery take place.
Home Care Settings: Patients manage their condition at home with professional assistance or self-care.
Ambulatory Surgical Centers (ASCs): Outpatient facilities where surgeries are performed without an overnight stay.

By Region:

North America: Includes the United States, Canada, and Mexico.
Europe: Covers Western and Eastern Europe, including countries like Germany, France, the UK, Italy, and others.
Asia-Pacific: Encompasses countries such as China, Japan, India, Australia, and others.
Latin America: Includes Brazil, Argentina, and other countries in South America.
Middle East and Africa: Covers the Middle Eastern and African countries.

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Regional Growth Dynamics:

North America accounted for the highest share in 2020, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 4.1% during the forecast period.

Competitive Landscape:

Coloplast A/S
Hollister Incorporated
ConvaTec Group PLC
B. Braun Melsungen AG
Medtronic PLC
Welland Medical Ltd.
Salts Healthcare Ltd.
Nu-Hope Laboratories, Inc.
Flexicare Medical Limited
Torbot Group, Inc.

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