DUBLIN–(BUSINESS WIRE)–The “Global Ostomy Care And Accessories Market Size, Share & Trends Analysis Report by Product (Bags, Accessories), by Application (Colostomy, Ileostomy, Urostomy), by End-use (Home Care Settings, Hospitals), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global ostomy care and accessories market size is anticipated to reach USD 4.8 billion by 2028 and is expected to expand at a CAGR of 5.1% from 2021 to 2028
The increasing prevalence of bladder and colorectal cancer coupled with the rise in the geriatric population is a key contributor to market growth.
The high prevalence of colorectal cancer and urinary bladder cancer has increased the demand for ostomy care products globally. For instance, as per the estimates of the American Cancer Society, in the U.S., in 2021, around 149,500 people are expected to be diagnosed with colorectal cancer, and approximately 52,980 people are expected to die due to colorectal cancer. This is expected to drive the market over the forecast period.
However, the COVID-19 crisis has been negatively impacted the market. Most projects related to the surgical procedure in South Korea, China, the U.S., and Germany got postponed due to an outbreak of a pandemic. The companies are facing short-term operational issues owing to supply chain constraints (restrictions at international borders). Thus, affecting the market growth in the short term.
The presence of various e-commerce sites offering products related to the surgical procedure might drive the sales of products. Amazon, Stomabags, and Express Medical Supply Inc. are some of the notable e-commerce sites which offer significant discounts, warranty, and prompt customer service on various products and accessories.
Ostomy Care And Accessories Market Report Highlights
- Based on product, the ostomy bags segment dominated the market in 2020 with a share of 85.0% owing to increasing cases of urological ailments, such as Inflammatory Bowel Disease, chronic kidney disease, and bladder control problems. The segment is further sub-segmented into one-piece and two-piece bags
- On the basis of application, the colostomy segment dominated the market in 2020 and accounted for the largest revenue share of 45.8% due to the increasing geriatric population and high prevalence of colorectal cancer
- Based on end-use, the home care settings segment dominated the market in 2020 and accounted for the largest revenue share of 45.4%, owing to an increase in demand for ostomy care products in the home care and patient-centric healthcare services
- Europe dominated the market with the highest revenue share of 47.2% in 2020 owing to the high incidence rate of Crohn’s disease and ulcerative colitis in this region and increasing incidence of urological diseases
- Coloplast Corp.
- B. Braun Melsungen Ag
- Hollister Incorporated
- Convatec, Inc.
- Salts Healthcare Ltd.
- Welland Medical Limited
Ostomy Care And Accessories Market Variables, Trends & Scope
Market Driver Analysis
- Increase In Initiatives To Raise Ostomy Awareness
- Technological Advancements
- Rise In Geriatric Population And Increase In The Risk Of Colorectal Cancer
Market Restraints Analysis
- Risk Of Skin Irritation And Infections
- Increase In Threat Of Substitutes
Market Lineage Outlook
- Parent Market Outlook
- Ancillary Market Outlook
Penetration & Growth Prospect Mapping
Product Pipeline Analysis, By Stage
User Perspective Analysis
- Consumer Behavior Analysis
- Market Influencer Analysis
List of Key End Users
Ostomy Care And Accessories: Market Analysis Tools
- Industry Analysis – Porter’s
- Pestle Analysis
Major Deals And Strategic Alliances
- New Product Launch
- Marketing & Promotions
- Market Entry Strategies
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