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Ostomy Drainage Bags Market size will witness substantial growth throughout 2024-2032, driven by the rising prevalence of inflammatory bowel diseases (IBD). As per NIH, it is estimated that above 7 million people in Europe and U.S. would be suffering from IBD by 2030.
The growing geriatric population is another factor for the industry over the forecast period. In 2022, the global population of individuals aged 65 years and more stood at 771 million, making up nearly 10% of the total population, and is projected to reach 16% by 2050 and 24% by 2100. Since aging is associated with the high burden of colorectal cancer and other disorders due to low immune systems, the demand for ostomy drainage bags will escalate.
The advancements in healthcare infrastructure and surgical techniques contribute to the expanding patient pool opting for ostomy solutions. There is a surge in product innovation, with manufacturers focusing on developing user-friendly, discreet, and technologically advanced ostomy drainage bags to enhance patient comfort and convenience.
Colostomy bags segment is slated to record a significant market share through 2032, driven by the increasing incidence of Crohn’s disease. This disease and ulcerative colitis have become global health conditions, affecting more than 2 million individuals in North America and 3.2 million in Europe. There is a rising product demand as they are recommended for patients experiencing problems with the colon.
The hospital segment is expected to witness surging demand over 2024-2032, backed by the rising prevalence of conditions necessitating ostomy procedures. As healthcare facilities increasingly realize the importance of providing comprehensive care to individuals with ostomies, there has been a notable surge in the demand for ostomy products. Hospitals adopt advanced medical technologies and ensure that patients have access to high-quality care. Additionally, the growing awareness among healthcare professionals within hospital settings contributes to an increased prescription and product utilization.
North America ostomy drainage bags market is projected to expand at a notable CAGR between 2024 and 2032, favored by rising prevalence of cancer and other chronic diseases. As per American Cancer Society, in 2022, an estimated 1.9 million new cancer cases were diagnosed, and 609,360 cancer deaths occurred in the U.S. Meanwhile, as per AGA in 2022, nearly 60-70 million Americans were suffering from gastrointestinal (GI) diseases. The growing incidence of digestive disorders will further bolster the product adoption across the region.
Some of the prominent ostomy drainage bags industry players include:
These companies are focusing on business expansions, innovative product launches, mergers, and acquisitions to expand their regional footprint.
Inflation is at a higher record and is emphasizing a profound impact on the healthcare sector. According to Peterson Center and the Kaiser Family Foundation, medical care expenses rose by 4.8% in July 2022 compared to 2021.