The Global market for Ostomy Drainage Bags Market is expected to reach by the end of 2020 growing at a CAGR of around from 2015 to 2020. Ostomy refers to the surgical procedure where body wastes such as Urine, mucus and stools etc. are eliminated through an artificial opening and collected in an artificial bag attached outside the body, called Ostomy Drainage Bags. These bags are used in conditions such as colorectal cancer, prostate cancer, inflammatory bowel disease, crohns disease, and other kidney or intestinal diseases. According to the type of surgical procedures the Ostomy drainage bags are classified like colostomy bags, Ileostomy bags and urostomy bags. The increasing incidence of the above mention diseases are propelling the demand for Ostomy bags. According to Cancer Research UK in 2011, In UK, 10399 cases of Bladder cancer and 5242 deaths was reported while in Europe, in 2012, more than 151,000 cases were estimated to have been diagnosed and 429,000 bladder cancer cases worldwide was estimated. According to World Cancer Research Fund International in 2012 itself around 1.4 million new Colorectal Cancer was diagnosed. According to WHO, in 2012, 694000 deaths have been reported worldwide due to colorectal cancer. Again, US CDC (Center for Disease Control and Prevention) estimates that currently in US, 1-1.3 million people suffer from Inflammatory Bowel Disease. This is a simple superficial depiction of patient pool. The high increase every year in incidence of colorectal cancer, Crohns Disease, Inflammatory Bowel Disease etc. is in itself a market driver.
The market have been segmented into two types By Use and by type. The segmentation by type have been clustered into colostomy bags, Ileostomy bags, Urostomy bags, and others while the segmentation on use have been divided into Single use and multi-use Ostomy bags. Currently North America has the largest market for Ostomy Drainage bags, followed by Europe, Asia, and rest of the world. Multi-use Ostomy bags dominate the present market due to high prevalence of inflammatory bowel disease and ulcerative colitis and following Ileostomy and Urostomy procedures. The Global market for Ostomy drainage bags sees a sustained growth worldwide. There is expected to be rapid growth in market for Ostomy drainage bags in South-East Asia, and Australia. The key players in this market are B Braun Melsungen AG, Alcare Co., Flexicare Medical Ltd., Coloplast A/S, Pelcin Healthcare Ltd., Hollister Incorporated, Marlen Manufacturing and development, Welland Medical and others.
Increased incidence of Inflammatory Bowel disease, Crohn’s Disease, Colorectal and bladder cancer and awareness of Ostomy Procedure amongst patients are the key drivers propelling the market growth.
Availability of alternative procedures like Ileoanal Reservoir (J Pouch) and other procedures pose a restraint to market growth
What the report offers:
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the Ostomy Drainage Bags Market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
5) Identification and analysis of the Macro and Micro factors that affect the Ostomy Drainage Bags Market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.