New York, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview:
In 2022, the global revenue from the ostomy drainage bags market reached US$1.67 billion, with a projected CAGR of 3.2% to attain US$2.37 billion by 2033, according to Persistence Market Research.
The single-use segment is anticipated to lead with a market value of US$1.07 billion by 2023. Ostomy drainage bags market contribute around 45.0% to the overall revenue share of the global ostomy care market, which concluded at approximately US$3.7 billion in 2022.
Sales Analysis
The global ostomy drainage bags market witnessed a notable CAGR of 2.6% from 2016 to 2022. Increasing demand for ostomy procedures is driven by rising cases of disorders such as cancer, inflammatory bowel disease, and renal dystrophy. Colorectal cancer, causing over 17 million deaths annually, is the twenty-third most burdensome disease globally.
In 2020, around 2.5 million U.S. citizens were affected by inflammatory bowel disease (IBD), expected to reach 3.5 million by 2030. Ostomy drainage bags play a crucial role in waste collection pre- and post-surgery for various colostomies.
Factors like an aging population and an uptick in intestinal stoma surgeries contribute to the rising demand for ostomy procedures. In developed economies, diseases like IBD and ulcerative colitis are more prevalent, with significant increases seen in countries like Sweden and Germany.
The growing global geriatric population, susceptible to IBD and cancer, fuels the market for ostomy drainage bags, frequently used in managing incontinence. The frequency of ostomy surgeries has surged globally due to an increase in disease prevalence and risk factors like changing dietary habits and drug consumption.
Colon and rectal cancers rank fifth and eighth globally, while urinary bladder cancer saw over 550,000 cases in 2018. The market is projected to maintain high growth, with a CAGR of 3.2%, reaching a global size of US$2.3 billion by 2033.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2022 | US$1.67 billion | |
| Estimated Revenue 2033 | US$2.37 billion | |
| Growth Rate - CAGR | 3.2% | |
| Forecast Period | 2022-2033 | |
| No. of Pages | 274 Pages | |
| Market Segmentation |
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| Regions Covered |
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| Key Companies Profiled |
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In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/ostomy-drainage-bags-market.asp
Market Growth Drivers:
Increasing Prevalence of Disorders: The rising incidence of disorders such as cancer, inflammatory bowel disease (IBD), and renal dystrophy necessitates ostomy procedures, driving the demand for ostomy drainage bags.
Aging Population: The global increase in the aging population leads to a higher prevalence of diseases requiring ostomy surgeries, contributing to market growth.
Rise in Surgical Procedures: The surge in surgical procedures involving the creation of an intestinal stoma further boosts the demand for ostomy drainage bags.
Growing Incidence of Inflammatory Bowel Disease: The increasing cases of IBD, such as Crohn's disease and ulcerative colitis, particularly among the aging population, drive the use of ostomy drainage bags for managing incontinence.
High Susceptibility of Geriatric Population: The aging population is highly susceptible to IBD, various types of cancer, and other conditions requiring ostomy surgeries, leading to increased adoption of ostomy drainage bags.
Global Increase in Ostomy Surgeries: Factors like changing dietary habits, increased drug consumption, and the global rise in the prevalence of diseases have contributed to a higher frequency of ostomy surgeries worldwide.
Market Restraints:
Stigma and Psychological Impact: The stigma associated with ostomy procedures and the potential psychological impact on patients may hinder the acceptance and utilization of ostomy drainage bags.
Quality of Life Concerns: Issues related to the quality of life, including concerns about body image, odor control, and potential lifestyle adjustments, can be significant barriers to the adoption of ostomy drainage bags.
Complications and Infections: The risk of complications, such as infections and skin irritations, associated with the use of ostomy drainage bags may deter some patients from opting for these solutions.
Limited Reimbursement Policies: Inadequate reimbursement policies for ostomy procedures and related products may create financial barriers for patients and limit market growth.
Technological Limitations: Despite advancements, technological limitations in ostomy care products, including drainage bags, may impact their effectiveness and user-friendliness.
Access to Healthcare Services: Limited access to healthcare services, particularly in certain regions or for specific demographics, may restrict the availability and adoption of ostomy drainage bags.
Opportunities:
Technological Advancements: Continuous innovation in ostomy care technology presents opportunities for the development of more advanced and user-friendly drainage bags, enhancing patient comfort and compliance.
Telehealth and Remote Monitoring: The growing adoption of telehealth and remote patient monitoring provides an opportunity to enhance post-surgery care, support patients remotely, and ensure timely intervention when needed.
Increasing Geriatric Population: The rising global geriatric population, susceptible to conditions requiring ostomy procedures, creates a substantial market opportunity for drainage bags and related products.
Global Expansion: Expanding market presence in emerging economies with increasing healthcare infrastructure and rising awareness of ostomy care can open new avenues for growth.
Patient Education and Awareness: Increased efforts in patient education and awareness programs can help overcome stigmas and misconceptions, fostering greater acceptance and utilization of ostomy drainage bags.
Customization and Personalization: Offering personalized and customizable ostomy care solutions, including drainage bags, can cater to individual patient needs and preferences, driving market growth.
Country-wise Insights
Why is the U.S. Market Booming?
Significant Healthcare Investment
In 2022, the United States held a market share exceeding 30% in the global ostomy drainage bags market. According to CDC estimates in 2015, 1.3% of U.S. citizens were affected by inflammatory bowel disease, a number predicted to exceed 3 million by 2030. This anticipated rise underscores the increasing demand for ostomy drainage bags in the coming years. Additionally, the presence of major players, such as Coloplast Corporation, further enhances profitable opportunities for market expansion.
Will the Germany Be a Lucrative Market for the Manufacturers?
Enhanced Reimbursement Policies
Germany is projected to secure a significant market share, approximately 7.2%, in the global ostomy drainage bags market in 2023. The country, known for its renowned medical product manufacturers, offers patients undergoing ostomy procedures a notable advantage – a 100% reimbursement. This favorable reimbursement policy eliminates out-of-pocket costs for patients, fostering increased utilization of ostomy care products. This factor is poised to play a crucial role in driving market growth in the country.
Category-wise Insights
Which Product is Driving Growth of the Global Market?
Increasing Adoption of Colostomy Procedures"
By the conclusion of 2023, the colostomy drainage bags segment is anticipated to command the largest market share, reaching approximately 59.8% of the total ostomy drainage bags market.
Serving as essential medical apparatus for collecting stools or urine, colostomy drainage bags are commonly employed in tandem with colostomies. The segment's growth is propelled by a surge in cases of bladder cancer, urine incontinence, and radiation-related injuries.
Which Modality Segment Has Dominated the Market Globally?
Growing Patient Preference for Ostomy Procedures"
By the conclusion of 2023, the single-use segment is poised to dominate the market, holding a substantial share of approximately 62.2%.
The rising demand for ostomy procedures is driven by an increasing prevalence of chronic diseases, including cancer, inflammatory bowel disease, and renal dystrophy. Consequently, there is a notable uptick in the adoption of single-use ostomy drainage solutions, ensuring enhanced patient safety and contributing to their widespread utilization.
Some of the market players:
- B.Braun Melsungen AG: B.Braun is a global healthcare company specializing in medical devices, pharmaceutical products, and healthcare services. They provide a range of products, including ostomy care solutions.
- Hollister Incorporated: Hollister is a company that develops and manufactures healthcare products, including ostomy care products. They focus on creating innovative and quality solutions for people with ostomies.
- Alcare Co. Ltd. : Alcare is a Japanese company that produces medical products, including ostomy care supplies. They are known for their commitment to quality and providing solutions for various healthcare needs.
- Coloplast Group: Coloplast is a Danish company specializing in medical devices and services. They are a major player in the ostomy care market, offering a wide range of products designed to improve the quality of life for people with intimate healthcare needs.
- ConvaTec, Inc: ConvaTec is a global medical products and technologies company, with a focus on wound and ostomy care. They develop innovative products to support healthcare professionals and improve patient outcomes.
- Torbot Group Inc.: Torbot is a company that manufactures and distributes various healthcare products, including ostomy care supplies. They have a history of providing solutions for individuals with special medical needs.
- Flexicare Medical Ltd: Flexicare is a UK-based medical device company that produces a wide range of healthcare products, including ostomy care supplies. They aim to provide high-quality and cost-effective solutions.
- Marlen Manufacturing & Development: Marlen is a U.S.-based company specializing in the manufacturing of medical products, including ostomy and continence care items. They focus on providing customized solutions for their users.
- Pelcin Healthcare Ltd: Pelcin Healthcare is a company that specializes in the production of ostomy care products. They aim to address the unique needs of individuals living with ostomies.
- Salts Healthcare Ltd: Salts Healthcare, based in the UK, is a company that focuses on the development and supply of ostomy and wound care products. They have a commitment to innovation and customer satisfaction.
Key Segments Covered in Ostomy Drainage Bags Market
Product:
Colostomy drainage bags
Ileostomy drainage bags
Urostomy Bags
Modality:
Single Use
Multi Use
End User:
Hospitals
Clinics
Surgical Centers
Home Care Settings
Diagnostic Laboratories
Research and Academic Institutes
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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