Colostomy refers to a surgical procedure in which a surgeon diverts one end of the large intestine towards a visible opening, often known as stoma, on the abdomen of the patient. The condition of colostomy can be temporary as well as permanent, depending upon the severity of the disease. Some of the diseases that can lead to colostomy are bowel cancer, obtrusion, ischemia, diverticulitis, IBDs like Crohn’s colitis and traumatic injury. For collecting waste products, a colostomy bag which physically appears like a small pouch, is placed over the stoma. The objective of a colostomy bag is to allow the irritated and inflamed areas of the colon to heal while the waste is diverted away through colostomy bags. A new research report titled “Colostomy Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the global colostomy bags market was worth US$ 1.3 Billion in 2017. The report further expects the market to cross US$ 1.8 Billion by 2023, at a projected CAGR of 5.6% over the forecast period.
Global Colostomy Bags Market Drivers/Constraints:
On the basis of product, the market is segmented as drainable stoma bags, care accessories, and others. At present, drainable stoma bags dominate the market, representing the most popular product type.
Based on end-user, the market is classified as retail pharmacies, hospitals, outpatient clinics, community healthcare centres and others. Amongst these, retail pharmacies exhibit a clear dominance in the market.
On a geographical front, North America enjoys a leading position in the global colostomy bags market, accounting for the largest market share. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
The market is concentrated in nature with four manufacturers which account for nearly 80% of the market share. There is a rigid competition in the market which makes it tough for small players to enter. Some of the leading players operating in the market are:
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