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Pharmacy benefit management market
DISPOSABLE COLOSTOMY BAGS MARKET REPORT OVERVIEW
global disposable colostomy bags market size was USD 2518.1 million in 2022 and market is projected to touch USD 4130.98 million by 2032 at CAGR 5.0% during the forecast period.
Significant factors driving the disposable colostomy bags market growth include the rise in colorectal cancer incidence, inflammatory bowel diseases, improvements in ostomy processes, and the introduction of novel ostomy devices. Other factors driving the market expansion are the growing number of participants in the overall ostomy drainage bag market and the growing geriatric population worldwide.
Individuals of various ages may require ostomies. They are typically recommended for people who have digestive issues, such as Crohn's disease, or whenever the anal sphincter isn't working properly. The body's waste can avoid the colon by using an ostomy or stoma bag, either temporarily or permanently. The main factor driving the growth of the market is the rerouting of the disposable channel used for ostomy operation waste, which is then collected in ostomy bags.
COVID-19 Impact: Barrier on Circulation of People and Products to Deplete Market Share
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The market has been significantly impacted by the COVID-19 outbreak. Handling those suffering from the disease, prioritizing patients with illnesses and pre-existing disorders, logistical obstacles, and safeguarding citizens and hospital frontline staff from COVID-19 infection are the main issues faced by the healthcare systems worldwide. Nonetheless, there is an increase in the utilization of colostomy bags as a result of the post-COVID scenario's increased requirement to treat certain trauma situations.
LATEST TRENDS
"Creative Research Endeavors to Stimulate Market Development"
In response to the growing demand for ostomies, medical experts and patient care centers are putting a lot of effort into increasing their capacity for offering ostomy care to patients. Colostomy product makers are under pressure to innovate and improve their goods in order to meet the increasing demand for vital supplies like ostomy drainage bags. Many creative research endeavors motivated by patient feedback on ostomy issues have resulted in the development of improved forms of two-piece coupling devices over time. These technological developments will raise the quality of life for those who have ostomies.
DISPOSABLE COLOSTOMY BAGS MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into one piece bags, two piece bags.
One Piece Bags: An adhesive flange is used to secure one-piece stoma bags around the stoma. The entire stoma bag is taken out and replaced with a new one when switching to a new one. It is worthwhile to experiment to discover an adhesive flange that works for you, as they differ in sorts and manufactures.
Two Piece Bags: Two-piece stoma bags consist of distinct cases that are joined to an adhesive flange or baseplate that fits around the stoma. When a fresh bag needs to be attached, the adhesive flanges is left in place. Usually, a new flange is installed every two to three days.
- By Application
Based on application the global market can be categorized into hospitals, clinics, home care.
Hospitals: In terms of final application, the hospitals provide specialized care and have educated healthcare professionals on staff, the hospital segment of the industry will hold a sizable market share in the upcoming years.
Clinics: Numerous community clinics offer cancer care services. These elements, together with excellent diagnostic precision, will motivate patients to have stoma surgery performed in a hospital setting, opening up profitable expansion prospects for ostomy bag manufacturers.
Home Care: Homecare can also be referred to as in-home care, social care, or domiciliary care. It includes a variety of tasks, including nursing paramedical aid and support with everyday life for sick, disabled, or elderly individuals.
DRIVING FACTORS
"Growing Older Population to Support Market Expansion"
Over the projected timeline, the market dynamics are expected to be largely driven by the growing older population. The WHO projects that the number of elderly individuals 60 years of age and older will double by 2050. The need for ostomy bags will increase because aging is linked to a higher risk of colorectal cancer along with other diseases because of weakened immune systems. In addition, the increasing expenditure on building strong healthcare systems will increase demand for the goods in the upcoming years.
"Increasing Prevalence of Crohn Disease to Foster Industry Progress"
The size of the market is expected to rise admirably, propelled by the increasing prevalence of Crohn's disease and the strong product adaptability among sufferers of all ages. Colostomy bag are in high demand because of the prevalence of this condition; these devices are usually advised for individuals who are having colon issues.
RESTRAINING FACTOR
"Utilization of Alternatives Therapies to Stop Market Evolution"
However, it is also anticipated that the challenges associated with the colostomy bags and the rising use of alternative therapies may hinder the market expansion during the intended time frame. However, the disparities in colostomy supply reimbursement in developing nations may pose additional obstacles to the market expansion in the near future.
DISPOSABLE COLOSTOMY BAGS MARKET REGIONAL INSIGHTS
"North America to dominate the Market Owing to Widespread Utilization of Technologies "
With its widespread use of cutting-edge medical technology, North America commands a large disposable colostomy bags market share. Moreover, throughout the projected period, the rise in cancer cases will support the expansion within the market in the area.
The growing prevalence of inflammatory bowel illnesses is expected to drive considerable growth within the market in North America. In addition, rising costs for the construction of healthcare facilities and an aging population are expected to fuel the market in the region throughout the next several years.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
LIST OF TOP DISPOSABLE COLOSTOMY BAGS COMPANIES
- Coloplast (Denmark)
- Hollister (U.S.)
- ConvaTec (U.K.)
- B. Braun (Germany)
- Salts Healthcare (U.K.)
- ALCARE (Japan)
- Welland Medical (U.K.)
- Marlen (U.S.)
- Steadlive (China)
- Nu-Hope (U.S.)
- 3L (U.S.)
- Securi-T USA (U.S.)
INDUSTRIAL DEVELOPMENT
January 2023: The new Aurum Plus line of ostomy pouches from Welland Medical was just released. There are several sizes of shut down, drainable, and urostomy pouches in the spectrum. Ostomates benefit from increased comfort, choice, and assurance.
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2518.1 Million in 2022 |
Market Size Value By |
US$ 4130.98 Million by 2032 |
Growth Rate |
CAGR of 5% from 2022 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is disposable colostomy bags market expected to touch by 2032?
The global disposable colostomy bags market is expected to reach USD 4130.98 million by 2032.
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What CAGR is the disposable colostomy bags market expected to exhibit by 2032?
The disposable colostomy bags market is expected to exhibit a CAGR of 5.0% by 2032.
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Which are the driving factors of the disposable colostomy bags market?
Growing older population and increasing prevalence of crohn disease are some of the driving factors of the disposable colostomy bags market.
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What are the key disposable colostomy bags market segments?
The key market segmentation that you should be aware of, which include, Based on type the disposable colostomy bags market is classified as one piece bags, two piece bags. Based on application the disposable colostomy bags market is classified as hospitals, clinics, home care.