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Ostomy Drainage Bags Market to 2019

Global ostomy drainage bags market: $3.1 billion industry forecast by 2019


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2014-01-23 17:43:01 - Ostomy Drainage Bags Market to 2019 - a new market research report on companiesandmarkets.com

The global ostomy drainage bags market is forecast to increase from $2.2 billion in 2012 to $3.1 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 5%. The increasing prevalence of conditions such as colorectal cancer, inflammatory bowel disease and prostate cancer, which require surgery and the creation of a fecal or urinary stoma, is the major driver for the forecast growth.In 2012, three top companies accounted for more than 80% of the global market, with Coloplast, Convatec and Hollister having shares of 37%, 28% and 17%, respectively. Technical advances in ostomy bags will also be a major driver for growth during the forecast period.In addition to progress in urinary and fecal diversions, complications such as morbidity associated

 

 

with radical pelvic surgery and major surgical procedures have massively reduced. Other significant advances include the improved ability to identify autonomic nerves, while increased use of laparoscopy reduces the risk of post-operative morbidity and recovery time.However, the unfavorable reimbursement scenario for ostomy drainage bags in developed countries is expected to limit future growth. In the US, inadequate reimbursement encourages ostomates to prolong the usage of ostomy drainage bags beyond their average lifetime, which limits demand for new ones. In Europe, many countries, with the exception of Germany and France, do not have fixed reimbursement fees for the procedure.In 2012, Eucomed, an association of various stakeholders in the medical device industry, announced proposals to address the challenges in the reimbursement provided for ostomy. These non-profit associations, combined with companies pushing for better reimbursement scenarios, are vital for the future growth of the ostomy drainage bags market.In countries such as India and China, there is currently no reimbursement for ostomy surgeries, and a lack of awareness of this issue could be a major restraint to companies expanding into these under-penetrated markets.

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