Growing geriatric population and increasing prevalence of ulcerative colitis creates large addressable market for ostomy drainage bags

In the recent past, prevalence of ulcerative colitis and IBD, especially among the geriatric population has increased significantly. Inflammatory bowel disease is common in developed countries, with higher prevalence in urban areas. Urbanization is a factor that might contribute to the increasing occurrence of the disease. However, with urbanization and rise in per capita income, the healthcare spends also increase proportionately. This will ensure timely and speedy recovery of the patients suffering from IBD and ulcerative colitis; thereby driving growth of the market.

North America held the largest share of the global ostomy drainage bags market, owing to high patient awareness and large geriatric population. However, Asia Pacific is projected to demonstrate high growth rates during the forecast period. India and China are projected to grow significantly in the global market for ostomy drainage bags in the Asia-Pacific region. Chief driving factors for the growth of industry in this region are increasing healthcare expenditure and presence of a large pool of patients.

Ostomy is a surgery to make an opening or stoma from a locale present in the interior of the body to the exterior. It predominantly treats diseases related to urinary or digestive systems. Ostomy may be permanent or temporary. In some cases an organ must be detached or removed, which is a permanent condition. However, when the organ or the specific part inside the body heals with time, and is not removed, the ostomy is temporary. The organ may be the colon, the small intestine, bladder or rectum. Whenever an ostomy is performed, wastes must be led outside the body through various procedures. This process of draining the wastes out of the body is known as ostomy drainage. The disposal bag used for this process is called ostomy drainage bag. After the ostomy procedure, bowel movements take place through the opening or stoma in the abdominal. This appliance has a bag and wafer. The wafer attaches to the abdominal wall with the help of an adhesive and the material is made of plastic. The primary function of the bag is to retrieve and retain the stool. Ostomy drainage bags are disposable and are replaced or emptied as required.
Fill the form for an exclusive sample of Ostomy Drainage Bags Market report @ https://www.coherentmarketinsights.com/insight/request-sample/186
According to National Institute of Diabetes and Digestive and Kidney Diseases, ostomy is broadly divided into three types - Ileostomy, Colostomy, and Urostomy. In Ileostomy, the base of the ileum or small intestine is attached to the opening or stoma. This goes around the anus, colon, and rectum. In colostomy, the colon is linked with the stoma, thereby bypassing the anus and rectum. In urostomy, the pipes that carry urine are linked to the stoma, which helps in bypassing the bladder.

Increasing awareness about ostomy procedure is one of the key factors that will propel the growth of the ostomy drainage bags market. Moreover, increasing incidence of Crohn’s disease and IBD (inflammatory bowel disease) would further propel growth of market in the foreseeable future.

Ostomy Drainage Bags Market Taxonomy

On the basis of product type, the global market is classified into:
Colostomy Bags
Urostomy Bags
Ileostomy Bags
On the basis of type of use, the global market is classified into:
Single-use Ostomy Drainage Bags
Multi-use Ostomy Drainage Bags Diagnostics

Due to factors such as increased awareness about colostomy, soaring incidence of colorectal cancer, and a variety of buying options for colostomy bags, the colostomy bags segment accounted for the largest share of the overall ostomy drainage bags market. According to American Cancer Society’s estimates, colorectal cancer is the third-most common cancer diagnosed in the U.S., with 95,520 new cases of colon cancer and 39,910 new cases of rectal cancer reported in the country in 2016. Increasing prevalence of colostomy and rectal cancer would necessitate ostomy, which in turn would drive overall growth of the ostomy drainage bags industry.

Some of the companies operating in the ostomy drainage bags market in the current scenario are Salts Healthcare Ltd., Welland Medical Ltd., Pelcin Healthcare Ltd., ConvaTec Inc., Hollister Incorporated, Coloplast A/S, Alcare Co Ltd, and B. Braun Melsungen AG.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity