Ostomy Care Market is Expected to Reach $4.49 bn by 2027
The Ostomy Care Market was valued at US$ 3.02 billion in the year 2019 and is estimated to reach US$ 4.49 billion by 2027, at a CAGR of 5.1%.
Ostomy is a surgical procedure performed to create an artificial opening called a stoma (either pink or red protruding over the skin with no sensory perception) in the lower abdominal area either from the intestine or from the urinary tract to reroute urine, mucous and digested matter (faeces) to outside the body. The surgical procedure is carried out when there is damage to the intestine or the urinary tract, hence they are removed. Ostomy procedure varies according to the area performed namely colostomy (ostomy in the colon), ileostomy (ostomy in the ileum) and urostomy (ostomy in the urinary bladder or ureter). The procedures are carried out in patients with Crohn’s disease, Ulcerative colitis, bladder cancer, bowel cancer, diverticulitis, radiation complications, etc. Ostomy bags or pouches are attached to the stoma using skin adhesives to collect the effluents. The ostomy care comprises of several accessories such as stoma caps, barriers/seal rings, pouch closures and pouch covers
Ostomy bags dominated the market over a few years. However, the market growth is slow; yet, the growth of ostomy accessories is one the rise and is also expected to be the most contributing segment during the forecast period between 2020 and 2027. Few major companies that have major hold in the segment are CovaTech, Coloplast, Hollister, etc. Further, the home care set-up is the most contributing segment as far as bags and accessories markets are concerned as this enables proper care by the family, reduces the hospital visits and hospital stays.
The colostomy procedure shares the market across the world with more than 40% of the entire market share. The elderly population is prone to bowel related disorders and urinary instructions and thus the rate of ostomy procedures are higher in geriatrics when compared to the younger population. It is projected that by the end of 2030, the world geriatric population will cross 12% of the total world population. Hence, this is one of the main market drivers. Also, increases in the number of diseases such as colon cancer, inflammatory bowel disorders and radiation-related complications, contribute to the market share. This is expected to increase the demand of colostomy bags and sustain the market dominance during the forecast period. Besides, the availability of a closed system and drainable colostomy bags can suit individual needs.
European region held the major market share during 2018 and is anticipated to dominate the market during the forecast period. This is attributed to more incidences of IBD in the region, awareness of ostomy, etc. Followed by which the North American region is expected to contribute more as the incidences of IBD and colon cancer are high. Besides, the Asia Pacific region is also anticipated to contribute owing to increasing awareness initiatives.
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This study provides the latest insights on the industry trends, products & pipeline along with country, regional and global revenue forecast till the year 2026. The analysis of the market is segmented into Products (Bags & Accessories); Application (Colostomy, Ileostomy, Urostomy); End-user (Home & Hospitals) and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
The major players in the market include 3M, Alcare, BAO-Health, B. Braun Melsungen, Coloplast, Convatec, Cymed, Flexicare Medical, Hollister Inc, Marlen, Nu-Hope, Perma-Type, Salts Healthcare, Schena Ostomy, Smith & Nephew and Welland Medical and many more…
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Ostomy Care Market, 2015 to 2018
- Forecast of the Ostomy Care Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Ostomy Care Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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