New report on Ostomy Drainage Bags Market analysis by Geography The key geographical areas analyzed in the report are North America, Europe, Asia pacific and LAMEA. North America has the largest market share followed by Europe due to moderate reimbursement scenario in these regions. Furthermore, different companies collaborate for better reimbursement scenario. Whereas, developing countries such as India and China have no reimbursement facilities for ostomy surgeries. The limited awareness regarding this issue is another limitation for driving the market in this region.
Competitive analysis The key companies profiled in this report are Conva Tec, Inc., Salts Healthcare, Marlen Manufacturing and Development Co, Coloplast, Hollister Inc., Braun Melsungen AG, ALCARE Co Ltd, Flexicare Medical Ltd, Cymed Ostomy co and Torbot Group, Inc. Technological advancements, better reimbursement scenarios and growing awareness among people are the key strategies followed in the ostomy drainage bags market.
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An Ostomy is a surgical procedure in which body wastes such as (urine, mucus and stools) are eliminated through an artificial opening from the colon of the human body, either to the outside surface or into a suitable organ. These wastes are collected in an artificial bags sited outside the patient’s body, called Ostomy Drainage Bags. These bags are used in the treatment of many diseases for instance-bladder, intestinal, inflammatory bowel diseases and many types of cancers. The rising prevalence of these diseases requires surgery and formation of urinary stoma or a fecal, is the key driver for the growth of ostomy drainage bags market. However, the inadequate reimbursement circumstance for ostomy drainage bags in the U.S. and other developed countries is the major constraint for the growth of this market. However, extended usage of these bags beyond their shelf life restricts the need for new ones, which curtails the markets future growth.
The key opportunities for global ostomy drainage bags market are the increasing geriatric population, technological advancement and rising demand for these bags. Additionally, increasing prevalence of diseases such as prostate cancer, colorectal cancer and inflammatory bowel diseases are the major opportunities to drive this market.
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