World Ostomy Drainage Bags Market - Opportunities and Forecasts, 2014 - 2022
Published: Jul-2016 | Format: PDF | Allied Market Research | Code: MRS - 68496
An Ostomy is a surgical procedure in which body wastes such as (urine, mucus and stools) are eliminated through an artificial opening from the colon of the human body, either to the outside surface or into a suitable organ. These wastes are collected in an artificial bags sited outside the patient’s body, called Ostomy Drainage Bags. These bags are used in the treatment of many diseases for instance-bladder, intestinal, inflammatory bowel diseases and many types of cancers. The rising prevalence of these diseases requires surgery and formation of urinary stoma or a fecal, is the key driver for the growth of ostomy drainage bags market. However, the inadequate reimbursement circumstance for ostomy drainage bags in the U.S. and other developed countries is the major constraint for the growth of this market. However, extended usage of these bags beyond their shelf life restricts the need for new ones, which curtails the markets future growth.
The key opportunities for global ostomy drainage bags market are the increasing geriatric population, technological advancement and rising demand for these bags. Additionally, increasing prevalence of diseases such as prostate cancer, colorectal cancer and inflammatory bowel diseases are the major opportunities to drive this market.
Ostomy Drainage Bags Market analysis by Types On the basis of types, global ostomy drainage market is segmented into urostomy bags, colostomy bags, and ileostomy bags. The advancement in technologies for products such as ileostomy and urostomy bags is responsible for accelerating the growth of ostomy drainage market in future.
Ostomy Drainage Bags Market analysis by Geography The key geographical areas analyzed in the report are North America, Europe, Asia pacific and LAMEA. North America has the largest market share followed by Europe due to moderate reimbursement scenario in these regions. Furthermore, different companies collaborate for better reimbursement scenario. Whereas, developing countries such as India and China have no reimbursement facilities for ostomy surgeries. The limited awareness regarding this issue is another limitation for driving the market in this region.
Competitive analysis The key companies profiled in this report are Conva Tec, Inc., Salts Healthcare, Marlen Manufacturing and Development Co, Coloplast, Hollister Inc., Braun Melsungen AG, ALCARE Co Ltd, Flexicare Medical Ltd, Cymed Ostomy co and Torbot Group, Inc. Technological advancements, better reimbursement scenarios and growing awareness among people are the key strategies followed in the ostomy drainage bags market.
High level analysis The analysis provides outline of the global ostomy drainage market, its opportunities, drivers and key concerns. We have explored the different forces that are responsible for prevailing market trends using Porter’s five forces tool. Demand for the product due to increasing prevalence of diseases such a different types of cancers, obesity and other diseases are responsible to increase the bargaining power of suppliers. Lack of reimbursement facilities in this sector, especially in developing countries, is likely to minimize the threat of new entrants. The value chain analysis in the report explains the key intermediaries operating in this market.
- Broad analysis of the features that limit and drive the growth of the market are provided
- In-depth analysis of the types of ostomy drainage bags would help in recognizing the future application in the ostomy surgeries
- In-depth analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
- Porter’s five force and other models would help in productive business decisions
- Competitive landscape section includes the market shares of major leaders within the ostomy drainage market with key strategies adopted by them to achieve high monetary value.
The market is segmented into types and geographies as follows:
- Ileostomy Bags
- Colostomy Bags
- Urostomy Bags
- North America
- Asia Pacific
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