A colostomy is a surgical procedure in which one end of the large intestine (colon) is diverted into a visible opening, known as stoma, on the patient’s abdomen to eliminate the body wastes. It is also referred to as bowel diversion therapy which is performed to reduce, stop or heal the infection, blockage, or in rare cases, severe trauma of the colon when the patient is suffering from problems with the lower bowel. After the surgery, a small pouch or a colostomy bag is placed over the stoma to collect the waste products. These bags are usually made of skin friendly materials, such as rubber or plastic, and facilitate easy disposal of the waste. According to the latest report by IMARC Group, titled “Colostomy Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global colostomy bags market reached a value of US$ 1.3 Billion in 2017.
The rising incidences of chronic diseases such as cancer, Crohn’s disease and inflammatory bowel syndrome have resulted in increasing the adoption of colostomy procedures, thereby fostering the global colostomy bags market. Additionally, the geriatric population with urinary, colorectal and bladder tract problems prefers colostomy bags to eliminate the leakage. This is anticipated to increase the usage of colostomy bags, in turn, driving the market growth. Furthermore, various governments are taking initiatives to create awareness regarding colostomy procedures done for the treatment of various diseases, such as colorectal cancer. This will aid in influencing the market growth of colostomy bags worldwide. Moreover, technical advancements have led to the production of colostomy bags which are more durable, skin-friendly, unbreakable and waterproof. On account of these factors, the market value is projected to exceed US$ 1.8 Billion by 2023, expanding at a CAGR of 5.6% during 2018-2023.
- Based on type, the market has been segmented as drainable stoma bags and care accessories. Currently, drainable stoma bags dominate the market, representing the most popular product type.
- On the basis of end-users, retail pharmacies represent the largest segment. Other major end-users include hospitals, outpatient clinics, community healthcare centers and others.
- Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being B. Braun, Coloplast, ConvaTec, Hollister, Marlen, Oakmed, T G Eakin and Welland Medical.
This report provides a deep insight into the global colostomy bags market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the colostomy bags market in any manner.
Key Questions Answered in This Report:
- How has the global colostomy bags market performed so far and how will it perform in the coming years?
- What are the key regions in the global colostomy bags market?
- Which are the popular product types in the global colostomy bags market?
- What are the key application segments in the global colostomy bags market?
- What are the various stages in the value chain of the global colostomy bags market?
- What are the key driving factors and challenges in the global colostomy bags market?
- What is the structure of the global colostomy bags market and who are the key players?
- What is the degree of competition in the global colostomy bags market?
- How are colostomy bags manufactured?