The purpose of the report is to illustrate the state of the market of Ostomy Drainage Bags, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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High prevalence of colorectal cancer, rapidly growing geriatric population pool and gradual adoption of ostomy procedures have together rendered a steady growth to the global ostomy drainage bags market. Ostomy is a surgical procedure for creating an opening (stoma) for body waste expulsion. The exact statistics regarding the number of ostomates could not be done, however it is estimated that this number ranges between 450,000 to 800,000, whereas the average age of patients undergoing ostomy is 68. With the overall growth in geriatric population, the number of ostomy procedures is anticipated to augment significantly. Adoption of novel ostomy drainage products covered under reimbursement policies would further encourage patients to improvise in terms of product usage and also adopt disposable product options.
Among the different product types, colostomy drainage bags are the largest product segment standing at almost half of the market share in 2015. High prevalence of colorectal cancer and rising awareness about colostomy as an convenient treatment and disease management option facilitate the dominance of this segment. Also establishment of several ostomy advocacy groups and organizations about life with ostomy further adds future prospects to the market. Patient education and propagation of availability of advanced colostomy products thereby boost the demand for colostomy drainage bags in the global market.
In terms of geographical distribution, North America and Europe together capture more than 60% share of the global ostomy drainage bags market. Here again, high awareness among both caregivers and patients play a vital role in widespread adoption of ostomy drainage bags in these regions. Additionally, Latin America and Asia-Pacific are anticipated to be the fastest developing regional markets during the forecast period. Rising incidence of colorectal cancer in the region, growing prevalence of sedentary lifestyle in emerging economies facilitate the growth of number of ostomies being performed and thus the demand for ostomy drainage bags.
The ostomy drainage bags market, is moderately competitive and is characterized with presence of several region specific market players. Though the market is experience is steadily progressing in terms of revenue generation, the volume growth of the same relatively slacks. Pelican Healthcare, Alcare Co., Coloplast A/S, ConvaTec, Inc. are some of the notable players in the global ostomy drainage bags market.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Ostomy Drainage Bags buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Ostomy Drainage Bags contains:
Analysis and forecast of Ostomy Drainage Bags market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Ostomy Drainage Bags market;
Assessment and forecast of Ostomy Drainage Bags market development;
Financial and business profiles of the leading companies in the Ostomy Drainage Bags industry.
– Up to date working Ostomy Drainage Bags data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Ostomy Drainage Bags for the period 2018 to 2026
– Planned Ostomy Drainage Bags additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Ostomy Drainage Bags projects by region, key countries, and companies
– Details of major planned Ostomy Drainage Bags projects in the world up to 2026
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