Global Ostomy Drainage Bags Market, by Product Type (Colostomy Bags, Ileostomy Bags and Urostomy Bags), by Usability (Single-use Ostomy Drainage Bags and Multiple-use Ostomy Drainage Bags), by System Type (One-piece System and Two-piece System), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 2,347.1 million in 2017 and is projected to exhibit a CAGR of 4.7% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
Manufacturers are focused on developing and commercializing ostomy drainage bags through mergers and acquisitions, thereby propelling growth of the global ostomy drainage bags market.
For instance, in July 2017, ConvaTec Group Plc acquired Woodbury Holdings, a U.S.-based independent national distributor of incontinence and catheter-related supplies, thereby delivering its products directly to the U.S. customers by creating home distribution business unit and thus expanding customer relationships in the region.
In December 2017, Coloplast acquired Lilial, a direct-to-consumer French home delivery company that distributes catheter and ostomy products globally, with a strategy to strengthen company’s position and offerings in France, thereby improving overall end user outcomes.
Browse 34 Market Data Tables and 26 Figures spread through 179 Pages and in-depth TOC on “Ostomy Drainage Bags Market”- Global Forecast to 2026, by Product Type (Colostomy Bags, Ileostomy Bags, and Urostomy Bags), by Usability (Single-use Ostomy Drainage Bags and Multiple-use Ostomy Drainage Bags), by System Type (One-piece System and Two-piece System), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
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The untapped market potential in emerging economies such as China and India has created significant investment opportunities for key players in global ostomy drainage bags market.
Moreover, major competitors in this market are developing innovative ostomy products to serve the patients suffering from conditions such as colorectal cancer and bladder cancer, thus creating a lucrative growth opportunity in the global ostomy drainage bags market.
According to the survey by BMC Cancer, 2017, colorectal cancer is the fourth common cancer in China with around 245,000 new cases and 139,000 deaths of colorectal cancer in 2012.
Furthermore, the major market players such as Coloplast A/S are enhancing manufacturing facilities and distribution sites in China to cater to increasing demands of the patient population.
Key Takeaways of the Global Ostomy Drainage Bags Market:
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