Global Colostomy Bags Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of XX% during forecast period.
Global Colostomy Bags Market Overview:
A colostomy is a surgical procedure that makes a temporary or permanent opening called a stoma. A stoma is a path that goes from the large intestine to the outside of the abdomen. This helps solid waste and gas exit the body without passing through the rectum. The waste is collected in a pouch worn on the outside of your body. Colostomy can be permanent or temporary, as colostomy can be reversed by joining two ends together.
Global Colostomy Bags Market Dynamics:
Rising cases of colorectal cancer and other chronic diseases helps in gaining momentum for the global Colostomy Bags Market.
Prevalence of Crohn’s disease, colorectal cancer, multiple sclerosis, and the rapidly growing geriatric population are the causes to perform colostomy procedures, which in turn drives the market growth. According to GLOBOCAN 2018 data, colorectal cancer (CRC) is the third most deadly and fourth most commonly diagnosed cancer in the world. Nearly 2 million new cases and about 1 million deaths are expected in 2018. The colostomy bags are leak-proof, easily disposable, easy to clean, storing and transport. However, patients having skin allergies to various products and adhesives should consider other appliances with non-adhesive material. This factor might hamper the market growth.
The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. Increasing RD activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and the report has come up with recommendations for a future hot spot in the APAC region.
Global Colostomy Bags Market Segment Analysis:
The global Colostomy Bags Market is segmented based on the product type and end-users.
Based on the Product Type, the one-piece system segment is expected to dominate market with the share of xx% by 2026. Advantages of using one-piece Colostomy bags include easy usage, flexible, less bulky, more adaptable to uneven skin and adhesive flange property, which adds up to the market growth.
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Global Colostomy Bags Market Regional Insights:
North America is expected to hold a dominant share during forecast period.
The rising prevalence of colorectal cancer in the US is giving rise to more colostomy procedures, which contributes to stimulating the market growth. Approximately 100,000 people in the United States undergo operations that result in a colostomy or ileostomy each year. The high incidence of ostomy surgeries in the United States is due in part to the increasing prevalence of colorectal cancer and diverticular disease. This fuels the demand for the colostomy bags market. According to the National Cancer Institute, around 147,950 new cases were estimated with colorectal cancer in the U.S. in 2020 and the number has been increasing. Europe is expected to hold the second-largest share due to the rising need for surgeries, increased adoption of drainage bags, advanced healthcare, and rising awareness about abdominal disorders.
Asia Pacific is expected as the fastest growing region during forecast period.
The Asia Pacific will command the global market owing to the drivers like improved medical infrastructure, increased healthcare expenditure, medical tourism presence of the large target population for example rising demand for these procedures increased awareness, development of innovative and cost-effective solutions, improved standard of living, and rise in disposable income. The market is anticipated to experience fast development in demand for colostomy Bags in emerging countries such as Japan, China, Brazil, India, Indonesia, and South Korea over the forecast period.
The report also helps in understanding Global Colostomy Bags Market dynamics, structure by analyzing the market segments and project the Global Colostomy Bags Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Colostomy Bags Market make the report investor’s guide.
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Global Colostomy Bags Market 1
Global Colostomy Bags Market, By Region:
• North America
• South America
Key Players Operating in global Colostomy Bags Market:
• Marlen Manufacturing
• Cymed Ostomy
• Flexicare Medical
• Hill-Rom Holdings
• NB Products
• Torbot Group
• B. Braun
• Welland medical
• Wujiang Evergreen
• Shandong Steve medical science technology
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