Colostomy bags are disposable medical devices used by colostomy patients to collect fecal waste. They provide comfort, convenience and discretion for individuals who have undergone surgery that diverts one end of the large intestine or colon through an abdominal stoma. The global colostomy bag market is driven by the growing prevalence of colorectal cancer worldwide. Approximately 1.8 million new cases of colorectal cancer are diagnosed each year. The increasing average life expectancy has also contributed to rise in geriatric population who are more prone to develop colon cancer.
The global Colostomy Bags Market is estimated to be valued at US$ 2.90 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising occurrence of colorectal cancer cases is one of the major factors accelerating the growth of the global colostomy bags market. Colorectal cancer is one of the leading causes of cancer-related mortalities worldwide. According to the American Cancer Society, over 149,500 new cases of colorectal cancer were diagnosed in 2020 in the United States. Moreover, approximately 52,980 people died from the disease in 2020. The growing patient pool undergoing colostomy surgery due to rising colorectal cancer prevalence is propelling the demand for colostomy bags globally during the forecast period.
Segment Analysis
The global colostomy bags market is dominated by one-piece bags segment which holds around 60% of the market share. One-piece bags are preferred over two-piece bags as they are easy to use and avoid leakage. They provide enhanced sealing and ensure that waste is collected safely without any spillage. The growing awareness about advantages of one-piece bags among patients is supporting the growth of this segment.
Key Takeaways
The global colostomy bags market is expected to witness high growth over the forecast period. The global Colostomy Bags Market is estimated to be valued at US$ 2.90 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently holds the largest share of the market owing to growing geriatric population suffering from gastrointestinal ailments in the US and Canada. Europe is another major region for colostomy bags market supported by increasing number of colorectal cancer surgeries performed annually in key countries like Germany, UK, and France. Asia Pacific is projected to be the fastest growing region in the colostomy bags market during the forecast period. This can be attributed to rising healthcare expenditure, growing awareness regarding ostomy care, and expanding patient pool in China and India.
Key players related content comprises
Key players operating in the colostomy bags market are Coloplast, ConvaTec, TG Eakin Hollister, Marlen, B. Braun Oakmed, and Welland Medical. Coloplast holds the leading position with its wide range of colostomy bags that offer comfort, discretion and protection. ConvaTec is another major player striving to launch innovative products to cater to unmet needs of ostomates.
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