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Stoma Care/ Ostomy Care Market – Global Trends, Share Analysis, Leading Players, Business Opportunities

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Stoma Care/ Ostomy Care Market – Global Trends, Share Analysis, Leading Players, Business Opportunities

July 25
23:03 2022
Stoma Care/ Ostomy Care Market - Global Trends, Share Analysis, Leading Players, Business Opportunities
The Prominent players in the ostomy care market include Coloplast Corp (Denmark), Hollister Incorporated (US), B. Braun Melsungen AG (Germany), ConvaTec Inc. (England), Salts Healthcare (UK), Welland Medical Limited (UK), Flexicare Group Limited (UK)
In June 2021, Welland Medical Limited launched a new innovative ostomy bag under the brand name Aurum Plus. It is available in both closed and drainable types.

This report aims to provide detailed insights into the global ostomy care market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Factors Driving Market Growth:

The increasing target patient population, growing prevalence of inflammatory bowel diseases, rising geriatric population, growing awareness, technological advancements, and the favorable reimbursement system in developed countries are the major factors driving the growth of this market.

Expected Revenue Growth:

[200 Pages Report] The global ostomy care market is projected to reach USD 3.2 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 4.3%.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=267183143

The Colostomy segment accounted for the largest share of the ostomy care market, by surgery type, in 2020

Based on surgery, the stoma care market is segmented into ileostomy, colostomy, and urostomy. The Colostomy segment is expected to dominate this market during the forecast period. Colostomy is the most common type of surgical procedure performed globally. The rising incidence of colon cancer, stomach cancer, and IBD in developed and developing countries, coupled with the favorable reimbursement scenario in developed countries, is supporting the growth of this segment.

The ostomy bags segment, by product type, accounted for the largest share of the global ostomy care market in 2020Based on product, the stoma care market is segmented into two broad categories-ostomy bags and accessories. The ostomy bags segment accounted for the largest share of the stoma care market in 2020. The large share of this segment is attributed to their high usage and low cost. The ostomy bags segment dominated the global market with a share of 88.49% in 2020.

Ostomy bags hold the largest share of the products market due to the growing number of patients suffering from target diseases (such as colorectal cancer and bladder cancer). Moreover, the efficient reimbursement system in developed countries and rising awareness aid market growth.

On the basis of End Users, hospitals & specialty clinics segment accounted for the largest share of the global ostomy care market, in 2020.

Based on end users, the stoma care market is segmented into hospitals & specialty clinics, home care settings, and ambulatory surgical centers. The hospitals & specialty clinics segment accounted for the largest share of the stoma care market in 2020. The hospitals & specialty clinics segment accounted for 79.0% of the stoma care market in 2020. The rising target patient population and the favorable reimbursement scenario in most developed countries are the major factors supporting the growth of this segment.

Hospitals and key players operating in this market are collaborating to provide training to healthcare professionals and nurses about ostomy care to increase the success rate associated with the procedure and reduce postoperative complications. This factor is expected to increase the number of patients undergoing colostomy, ileostomy, and urostomy procedures, further supporting the growth of this segment. For instance, the Wound, Ostomy and Continence Nurses Society (US) has designed a program on ‘Access to Wound, Ostomy, and Continence (WOC) Supplies.’ The program is aimed to protect and enhance patients’ access to WOC supplies.

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Regional Growth Analysis:

The global ostomy care market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe accounted for the largest share of 37.85% of the stoma care market in 2020. The large share of this region can be attributed to the growing patient population, rising geriatric population (as this population segment is more prone to developing gastrointestinal diseases which require ostomy procedures), and favorable reimbursement scenario.

The Asia Pacific region is expected to register the highest growth during the forecast period. The Asia Pacific market is segmented into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. In 2020, the APAC accounted for 23.84% of the ostomy care market.

Key Players:

Prominent players in the ostomy care market include Coloplast Corp (Denmark), Hollister Incorporated (US), B. Braun Melsungen AG (Germany), ConvaTec Inc. (England), Salts Healthcare (UK), Welland Medical Limited (UK), Flexicare Group Limited (UK), Alcare Co. Ltd. (Japan), Cymed Micro Skin (US), Marlen Manufacturing & Development Company (US), Nu-Hope Labs (US), Torbot Group Inc. (US), Smith & Nephew (UK), Perma-Type Company Inc. (US), and 3M (US).

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Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/ostomy-care-accessories-market-267183143.html

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