The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s ostomy drainage bags market report forecasts the ostomy drainage bags market size to grow to $2.55 Billion by 2027, with a CAGR (compound annual growth rate) of more than 3%.

Learn More On The Ostomy Drainage Bags Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ostomy-drainage-bags-global-market-report

Ostomy Drainage Bags Market Size Forecast
The global ostomy drainage bags market is expected to grow from $2.13 billion in 2022 to $2.21 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ostomy drainage bags market is expected to grow to $2.55 billion in 2027 at a CAGR of 3.6%.

North America held the largest ostomy drainage bags market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Ostomy Drainage Bags Market Driver ­– Increase In Bladder Cancer
For instance, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, in 2022, in the USA, there were about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and there were about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women). Therefore, increasing in bladder cancer is driving the demand for the ostomy drainage bags market.

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Key Ostomy Drainage Bags Market Trend – Product Innovations
Major companies operating in the ostomy drainage bags market are focused on developing innovative solutions to sustain their position in the market. For instance, in June 2021, Pelican Healthcare Ltd., a UK-based manufacturer of disposable medical products launched ModaVi, a new innovative ostomy pouch range. The new ModaVi line is created with lifestyle in mind in addition to clinical performance. It offers crucial components that provide ostomates with more independence and influence over their daily lives. The ModaVi launch aims to combat stigma, improve people’s lives, and prevent stomas from defining who someone is. This device gives people with a stoma the support, freedom, and quality of life.

Ostomy Drainage Bags Market Segment
1) By Type: Colostomy Bags, Ileostomy Bags, Urostomy Bags, Continent Ileastomy Bags, Continent Urostomy Bags
2) By Clinical Application: Colorectal Cancer, Bladder Cancer, Colonic Diverticulitis, Inflammatory Bowel Disease, Other Diseases
3) By Usage Type: Single-Use Ostomy Drainage Bags, Multi-Use Ostomy Drainage Bags
4) By End User: Hospitals, Home Care Setups

Ostomy Drainage Bags Market Major Players and Strategies
Major players in the ostomy drainage bags market are Alcare Co. Ltd., B. Braun Melsungen Aktiengesellschaft, Coloplast A/S, Convatec, Hollister Inc., Pelcin Healthcare Ltd., Salts Healthcare Ltd., Welland Medical Ltd., Marlen Manufacturing and Development, Torbot Group Inc., Cymed Ostomy, Prowess Care, and Goodhealth Inc.

In November 2020, Coloplast A/S, a Denmark-based company that develops, manufactures, and markets medical devices and services related to ostomy, urology, continence, and wound care acquired Nine Continents Medical Inc for $145 million. The deal support Coloplast’s mission and strategic direction to market cutting-edge solutions and pursue both organic and inorganic growth opportunities in the interventional urology business. Nine Continents Medical Inc is a US-based developer of a device that provides neurostimulation for the treatment of overactive bladder.

The Ostomy Drainage Bags Global Market Report 2023 covers regional data on ostomy drainage bags market size, ostomy drainage bags market trends and drivers, opportunities, strategies, and ostomy drainage bags market competitor analysis. The countries covered in the ostomy drainage bags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

An ostomy urinary drainage bag is an appliance connected to a catheter that helps to drain and collect urine. It is used when there is a problem that involves the bladder and urine. Ostomy bags are usually coated in liquid-impervious material that allows urine to pass through them.

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