Portland, OR -- (SBWIRE) -- 09/29/2017 -- Ostomy Drainage Bags Market report, published by Allied Market Research, forecasts that the global market is expected to garner$3,524 million by 2022, growing at a CAGR of 3.6% during the period 2016-2022.Ostomy is a surgical procedure in which an artificial opening, known as stoma, is made from the colon of the human body to eliminate body wastes such as urine, mucus, and stools. Plastic/rubber bags or pouches, known as ostomy drainage bags, are used to collect these wastes. These bags are of two types: one-piece system and two?piece system. One-piece systems consist of a skin barrier and collection pouch together as a single unit, which when changed has to be removed completely, while two-piece systems include both a skin barrier and collection pouch as different units that when changed leave the skin barrier as it is and the collection pouch is separated.
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This report segments the market on the basis of product type and geography. On the basis of product type, it is divided into colostomy bags, ileostomy bags, urostomy bags, continent ileostomy bags, and continent urostomy bags. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Currently, colostomy, ileostomy, and urostomy bags have witnessed large-scale adoption, owing to the increase in geriatric population with colorectal, bladder, and urinary tract cancer. Moreover, rise in advanced technologies that aim to provide patient comfort and need fosters the requirement for ostomy bags. Continent ileostomy and continent urostomy bags are other popular segments due to occurrence of conditions such as incontinence and rise in obesity along with individuals prone to diabetes.
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North America was the largest regional market, followed by Europe due to moderate reimbursement scenario in these regions. Asia-Pacific is estimated to grow at the highest CAGR of 6.7% during the forecast period.
Key Findings Of The Ostomy Drainage Bags Market Study
- Colostomy, ileostomy, and urostomy bags segments are expected to occupy highest market share, and are identified as lucrative targets for investment.
- Colostomy bags segment dominated the ostomy drainage bags market in 2015.
- Majority of the market share was dominated by North America in 2015, while Asia-Pacific is expected to grow at the highest rate.
- Continent urostomy and Ileostomy bags segments are projected to grow at high CAGRs globally.