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Technavio’s latest report on the global ostomy drainage bags marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global ostomy drainage bags market from 2017-2021. (Graphic: Business Wire)
The increased availability of multiple types of products, such as single use and multiple use bags and the growing demand for patient care services after ostomy surgeries are driving the market. The demand for ostomy drainage bags is high in the developed countries such as the US, Canada, the UK, and Germany owing to their high availability of efficient healthcare facilities and increased incidences of cancer.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector, says, “The demand for ostomy drainage bags is expected to grow at a fast rate in developing countries such as India, China, Japan, Mexico, and Brazil because of the rising healthcare expenditure. This has resulted in vendors shifting their focus to these countries that promise huge market potential.”
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The top three emerging trends driving the global ostomy drainage bags marketaccording to Technavio research analysts are:
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Growth of healthcare facilities
The increased number of diseases, demand for increased healthcare services, and the availability of many healthcare providers are driving the growth of healthcare facilities. Due to the increased healthcare spending, patients are opting for sophisticated treatment, including ostomy surgeries.
“The introduction of new multispecialty and super specialty hospitals in the developing countries are creating new opportunities for medical facilities, leading to an increased number of surgical procedures, including ostomies. Owing to the growing number of ostomies in multispecialty and super specialty hospitals, the demand for ostomy drainage bags is also increasing,” according to Amber.
Increase in number of diseases requiring ostomies
There is a substantial growth in the number of diseases such as cancer, inflammatory bowel disease, and renal dystrophy that is driving the demand for ostomy surgeries among patients. For instance, more than 990 thousand in the US and more than 2 million people in Europe are estimated to have inflammatory bowel diseases that require colostomies for treatment.
As treatment, various types of colostomies such as cecostomy, ascending colostomy, loop colostomy, and double barrel colostomies are done, which increases the use of ostomy drainage bags.
Growing demand for tender-based purchase and bulk purchase of ostomy drainage bags
Due to the higher demand for ostomies, healthcare providers and patient care centers are trying to increase their potential in providing efficient ostomy care to patients. This means hiring skilled professionals, improving existing patient care facilities, and keeping a constant supply of medical accessories, including ostomy drainage bags.
Further, to maintain a continuous supply of ostomy drainage bags to end-users, the tender-based procurement is followed in many countries. In this case, the end-user or patient care center can choose and, in some cases, customize the product as per need. Products can be customized as a single piece, double piece, disposable, or multiple-use ostomy drainage bags.
The key vendors are as follows:
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