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Colostomy bags are medical devices that are used by patients who have had their large intestine or rectum surgically diverted through the abdominal wall. They are commonly used after colorectal cancer surgery or for inflammatory bowel disease. Colostomy bags help collect waste from the stoma and prevent leaks. These bags are available in various sizes, from one-piece to two-piece systems, and closed-end or drainable options. There are alsooptions with filters to reduce odor. The global colostomy bags market is driven by the increasing prevalence of colorectal cancer and inflammatory bowel disease. As per estimates, nearly 1.8 million new cases of colorectal cancer are diagnosed worldwide each year. With the growing geriatric population being more susceptible to such medical conditions, the demand for colostomy bags is expected to rise significantly in the coming years.
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 Dynamics
The growing geriatric population is one of the major drivers propelling the colostomy bags market forward. Older adults above 60 years of age are more prone to medical ailments requiring colostomies. It is estimated that by 2050, the number of people aged 60 years and above will reach 2 billion globally. Furthermore, advancements in colostomy bag technology have enabled product innovations catering to different lifestyle needs. This has boosted adoption and driven the market growth over the past few years. Improved product offerings with features such as filters, options for closed versus drainable systems, and one-piece versus two-piece designs have increased patient comfort levels.
Segment Analysis
The colostomy bags market is dominated by one-piece bags, which holds around 60% market share. One-piece bags are preferred more as it offers ease of use with adhesive barrier and bag being combined in single piece. The demand for one-piece bags is high among elderly population who find it difficult to use two-piece bags.
PEST Analysis
Political: The regulations around ostomy care products are harmonized under various governing bodies like FDA in US and EU MDD in Europe which ensure safety and effectiveness of products. This provides stable regulatory environment.
Economic: Rising healthcare spending coupled with growing elderly population prone to colon cancer, bowel diseases are key factors fueling market growth. However, economic slowdowns can negatively impact the market.
Social: With better access to healthcare and awareness, social stigma around ostomy procedures has reduced significantly over time. However, need for discreet bags remains high.
Technological: Major players are focusing on developing thinner bags with improved adhesive barriers that ensure better fit and comfort over longer period. Some bags are integrated with filters that reduce odor. Skin-friendly hydrocolloid materials are also gaining traction.
Key Takeaways
The global colostomy bags market is expected to witness high growth over the forecast period of 2023 to 2030. North America region currently dominates the market due to large patient pool undergoing ostomy surgeries. The number of surgeries are significantly high in US.
Key players operating in the colostomy bags market are Coloplast, ConvaTec, TG Eakin Hollister, Marlen, B. Braun Oakmed, and Welland Medical.
Some of the major players like Coloplast have a wide range of colostomy bags including one-piece and two-piece bags available in various sizes. The company has strong focus on developing discreet bags with skin-friendly hydrocolloid materials and filter technology.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
