Global Ostomy Drainage Bags Market to Surpass US$ 3.5 Billion by 2026

SEATTLE, July 24, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global ostomy drainage bags market is valued at US$ 2,347.1 million in 2017, and is projected to exhibit a CAGR of 4.7% over the forecast period (2018–2026).

Key Trends and Analysis of the Global Ostomy Drainage Bags Market:

The market players are focused on developing and commercializing ostomy drainage bags in emerging markets, thereby propelling growth of the global ostomy drainage bags market. For instance, in 2016, B. Braun introduced Flexima 3S Ostomy appliance line in the North America market, thereby expanding its product portfolio in the U.S. and Canada, and strengthening its market position. The product offers unique design with a distinctive coupling mechanism, multiple base plate options, guiding system, and soft material providing comfort.

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In 2016, Coloplast acquired Comfort Medical, LLC, a dealer of catheters and ostomy products, to offer innovative products and technologies to the U.S. customers and enhance revenue growth by regional expansion.

Major factors contributing to growth of the global ostomy drainage bags market are increasing incidence of colorectal cancer and rising number of ostomy procedures.

According to European Ostomy Association (2015), there are over 120,000 people living with ostomy bags and over 40,000 new ostomies are performed every year in Russia.

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Key Market Takeaways:

• The global ostomy drainage bags market is expected to exhibit a CAGR of 4.7% during the forecast period (2018–2026), attributed to increasing expansion activities by market players, in order to strengthen their position in the global market. For instance, in December 2017, Coloplast acquired Lilial, a direct-to-consumer French home delivery company that distributes catheter and ostomy products globally, with a strategy to strengthen Coloplast's position and offerings in France, thereby improving overall end user outcomes.
• North America is expected to hold a prominent share in the global market, as key players in the region are focused on innovating new products to meet patients' requirements and user comfort. For instance, in 2014, ConvaTec Group Plc launched urostomy pouch with soft and flexible materials to provide comfort, and slimmer profile.
• Moreover, growing number of intestinal diseases such as inflammatory bowel diseases, Crohn's disease, and ulcerative colitis has boosted growth of global ostomy drainage bags market in North America. According to Centers of Disease Control and Prevention (CDC), around 1.3% of adults in the U.S., accounting for 3 million patients, reported to be suffering from inflammatory bowel disease (either Crohn's disease or ulcerative colitis) in 2015, which increased overall hospitalization rate in the country.
• Key players operating in the global ostomy drainage bags market Coloplast A/S, Welland Medical Ltd., B. Braun Melsungen AG, ConvaTec Group plc, Salts Healthcare Ltd., Hollister Incorporated, ALCARE Co., Ltd., Pelcin Healthcare Ltd., Flexicare Medical Ltd., and Torbot Group Inc.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/ostomy-drainage-bags-market-186

Report Segmentation:

• Global Ostomy Drainage Bags Market, By Product Type:
• Colostomy Bags
• Ileostomy Bags
• Urostomy Bags
• Global Ostomy Drainage Bags Market, By Usability:
• Single-use Ostomy Drainage Bags
• Multiple-use Ostomy Drainage Bags
• Global Ostomy Drainage Bags Market, By System Type:
• One-piece System
• Two-piece System
• Global Ostomy Drainage Bags Market, By Region:
• North America
• By Country:
• U.S.
• Canada
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• By Country:
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• By Country:
• GCC
• Israel
• Rest of Middle East
• Africa
• By Country/Region:
• South Africa
• Central Africa
• North Africa
• Company Profiles

Contact Us:

Mr. Raj Shah
Coherent Market Insights
1001 4th Ave. 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

SOURCE Coherent Market Insights

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