Ostomy Drainage Bags Market to Report Modest Yet Steady CAGR of 4.7% as Patients' Awareness Levels Rise

An ostomy drainage bag plays a crucial role in the collection of the waste excreted by a patient. The use of this prosthetic medical device is necessitated after an ostomy – a procedure that entails the diversion of waste from the natural biological system (such as the bladder, colon and ileum) to an artificially created stoma within the abdomen. The global ostomy drainage bags market has shown steady expansion in recent years, thanks in part to a rapid growth in the number of ostomy procedures conducted globally. The reported increase in ostomy procedures is a result of the rising incidence of diseases such as bladder cancer, colorectal cancer, inflammatory bowel disease and Crohn’s disease. According to market research analysts, the global ostomy drainage bags market will report a CAGR of 4.7% between 2014 and 2022, by which year it would be worth US$2,759.5 million.

Initiatives to Clear Misconceptions about Ostomy Augur Well for Ostomy Drainage Bags Market

There are several factors that have supported the growth of the global ostomy drainage bags market. For one, a greater degree of awareness that has been created via initiatives such as the World Ostomy Day (observed every year on October 6 worldwide) has helped increase the adoption of ostomy drainage bags. Moreover, a number of institutions in the healthcare industry have taken active measures to help patients clear misconceptions associated with ostomy as well as the use of ostomy bags. With the alleviation of the stigma associated with ostomy drainage bags, there has been a gradual yet steady increase in the demand for them.

However, these initiatives need to be implemented in several other emerging and developing markets where awareness levels still remain dismal. If companies and healthcare organizations are able to encourage awareness in emerging markets, the scope for growth will expand as well.

Request a Sample: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=325

Colostomy Bags are Most Commonly-Used Product in the Global Ostomy Drainage Bags Market 

There are several key product types within the global ostomy drainage bags market. These include: Colostomy bags, urostomy bags, and ileostomy bags. As of 2013, colostomy bags were seen to be the most dominant segment within the global ostomy drainage bags market. This can be ascribed to the high occurrence of colorectal cancer worldwide. Moreover, a greater degree of awareness pertaining to colostomy now exists – this consequently leads to more colostomy bags being used after the procedure.

In emerging countries in the Latin America and Asia Pacific region, market players offer a number of purchase and pricing options for colostomy bags. This has proven favorable for the growth of the overall ostomy drainage bags market. In the backdrop of these asspects, the ostomy drainage bags segment will see the fastest rate of growth between 2014 and 2022, states a recent market research report.

Market Analysts Observe Higher Demand for Multi-use ostomy Drainage Bags

The ostomy drainage bags market offers single-use as well as multi-use bags. Of these, the market for multi-use ostomy drainage bags was reported to be larger in 2013. The demand for multi-use ostomy drainage bags is higher because they are the product of choice in surgical procedures such as urostomy and ileostomy.
The key advantage of the multi-use ostomy drainage bag is that it can be irrigated and re-used to help patients save costs without compromising on their hygiene and safety. This also gives a multi-use ostomy drainage bag an advantage of its single-use counterpart. The trend is especially relevant to markets such as Asia Pacific and Africa where consumers are conscious of cost.

Browse Full Report at http://www.transparencymarketresearch.com/ostomy-drainage-bags-market.html