Market Size of Global Ostomy Drainage Bags Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ostomy Drainage Bags Market Analysis
The Ostomy Drainage Bags Market is expected to register a CAGR of 4.5% during the forecast period.
According to a research study by Dario D'Antonio et al., published in SN Comprehensive Clinical Medicine Journal August 2020, several surgical societies provided specific procedures and guidelines, including triaging pathways and telemedicine (TM) during times of high disease pressure. Moreover, the presence of a stoma, even in a non-emergent setting, has a great impact on patient's quality of life, so medical and psychological support are needed, especially at the beginning of the stoma experience.
In addition, according to a research study by Vincenza Paola Dinuzzi et al., published in Wound Management & Prevention Journal January 2021, stated that reorganization of stoma care services, including the availability of telemedicine, did not result in a decrease in the number of consultations provided. The results suggest that stoma care services using telemedicine may provide valid support for patients with an ostomy in the future.
Some of the factors that are driving the market's growth include increasing geriatric population, rising incidence of inflammatory bowel disease, Crohn's disease, colorectal and bladder cancer cases. For instance, according to the World Ageing 2019 report, in 2019, there were around 703 million people aged 65 years or more in the world. The number of older persons is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. The proportion is projected to rise further to 16% by 2050. By 2050, 1 in 6 people in the world will be over the age of 65 years, up from 1 in 11 in 2019.
Furthermore, according to Nicolas Patel, in an article published in 2020, inflammatory bowel disease is most prevalent in South America at approximately 21%, and least prevalent in Southeast Asia at 7%. In the United States, Canada, and Israel, IBS symptoms are 1.5 to 2 times more prevalent among women than men.
Increasing research and development activities in the development of novel products is contributing to the market growth. For instance, in August 2019, United Ostomy Associations of America, Inc., (UOAA) 7th National Conference was held on 8 and 9 August, 2019 at Pennsylvania on 'discover a world of ostomy product'. The conference was visited by ostomy producers, accessories producers, retailers, fashion specialists and associated assistance organizations. However, factor such as reimbursement issues acting as a restraining factor to the market growth.
