Ostomy Care And Accessories Market Is Expected To Drive The Segment Over The Forecast Period

 Ostomy Care And Accessories Industry Overview

The global ostomy care and accessories market size was valued at USD 3.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. The demand for ostomy care and accessories is anticipated to upsurge owing to the increasing number of initiatives to raise ostomy awareness, technological advancements, high prevalence of bladder cancer, and colorectal cancer. In addition, the growing geriatric population base is further expected to drive the demand for ostomy care and accessories during the forecast period.

The current outbreak of the COVID-19 pandemic has negatively impacted the ostomy care business, as only the most acute ostomy surgeries have been performed following the outbreak. This impact has been the highest in the European region, especially in the U.K. and Italy. Healthcare facilities in most of the countries globally have been exhausted with a large number of covid patients. As a result, several countries have delayed elective surgeries and other medical procedures for an indefinite period.


Gather more insights about the market drivers, restrains and growth of the Global Ostomy Care And Accessories market

Therefore, patients suffering from acute and chronic diseases have to be treated at home or at outpatient clinics. However, to meet the demand many companies have adopted various strategies to maintain their product sales. To tackle supply chain disruption, companies are rerouting logistics, sourcing from additional partners, and ensuring quick delivery with air freight.

The increasing prevalence of colorectal cancer is expected to drive the demand for ostomy care and accessories. According to NCBI, colorectal cancer is the fourth most common cancer and the second main cause of cancer-related deaths in the U.S. The risk of colorectal cancer increases with age as it is commonly diagnosed in people aged from 65 to 74. Moreover, the prevalence of colorectal cancer is increasing in Asian countries such as India, China, and Japan. Thus, the rising risk of colorectal and urinary bladder cancer has increased the demand for ostomy care products and accessories over the forecast period.

Moreover, the rising elderly population is one of the significant factors expected to drive the market for ostomy care and accessories over the forecast period. As per the WHO, the global population aged 65 and above is expected to increase from 7.0% in 2000 to 16.0% in 2050. People living with an ostomy are mostly above the age of 50. According to the American Medical Association, the number of ostomy procedures is higher among the geriatric population than adults. In addition, according to NCBI, patients aged 70 years and older undergo more permanent ostomy procedures than younger people, with longer hospital stays and a higher mortality rate, which is anticipated to boost the sale of ostomy bags and accessories. Therefore, with the constant increase in the geriatric population, short- and long-term healthcare needs are also increasing, which is expected to drive the market for ostomy care and accessories at a global level.

 

The U.S. dominated the market in North America with the largest revenue share of 79.5% in 2020 owing to an increase in the prevalence of urinary incontinence, urinary retention, and a growing number of elderly people suffering from bladder problems and diverticular diseases. According to the National Association for Continence, people aged 40 and more are commonly affected by Overactive Bladder (OAB) and urine urgency. Furthermore, the increasing incidence of diverticular disease is one of the major factors expected to drive the demand for ostomies. According to a study published by Kestrel Health Information, Inc., around 450,000 people in the U.S. use a stoma, and approximately120,000 new ostomy surgeries are performed every year Thus, an increasing number of patients suffering from urologic conditions is primarily expected to drive the market in the U.S.

Moreover, technological advancements pertaining to ostomy care products are some of the major factors driving the market. The introduction of efficient and suitable pouching systems and associated accessories which help to improve the quality of life of ostomy patients is expected to drive the market for ostomy care and accessories during the forecast period. For instance, the company Trio Healthcare has launched Trio Siltac, a silicone-based ostomy seal. Trio Ostomy Care is the only company that offers silicone-based ostomy seal. This product helps prevent leakage and protects the skin around the stoma. These advancements are anticipated to boost market growth over the forecast period.


Browse through Grand View Research's Medical Devices Industry Research Reports.

  • Immunohematology Market - The global immunohematology market size was valued at USD 1.5 billion in 2015. The market is expected to witness significant growth owing to the development of innovative technologies for blood screening and new product launches. Hospitals and diagnostic laboratories are shifting their preference to automated instrumentation and integration of different functions in a single platform, which is also augmenting the growth.

  • Cardiac Prosthetic Devices Market - The global cardiac prosthetic devices market size was valued at USD 3.7 billion in 2015 and is expected to witness attractive growth over the forecast period. The major companies are enhancing the longevity of their product through technological advancements. These companies are also focusing on expanding the safety of the cardiac prosthetic devices, which is expected to increase the demand for such products.

 

Ostomy Care And Accessories Market Segmentation

Grand View Research has segmented the global ostomy care and accessories market on the basis of product, application, end-use, and region:

Ostomy Care & Accessories Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Bags
  • Accessories

 

Ostomy Care & Accessories Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Colostomy
  • Ileostomy
  • Urostomy

 

Ostomy Care & Accessories End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Home Care Settings
  • Hospitals
  • Others

 

Ostomy Care & Accessories Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

  • May 2019: Welland Medical unveiled the Aurum range of skin-friendly ostomy products in the Swedish ET-nurse congress organized in Sweden. Such initiatives are expected to expand the company's geographical reach.

 

Key Companies profiled:

Some prominent players in the global Ostomy Care And Accessories market include

  • Coloplast Corp.
  • Braun Melsungen AG
  • Hollister Incorporated
  • ConvaTec Group Plc
  • Welland Medical Ltd.
  • Salts Healthcare Ltd.

 

Order a free sample PDF of the Ostomy Care And Accessories Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

 

Comments

Popular posts from this blog

Drug Addiction - Pipeline Review, H1 2017 Market Overview and trends research report

All Countries Dialyzer Industry 2013-2028 - Market Size, Share, Outlook, Growth, Key Players and Forecast

Insights into the Medical Waste Disposal Category: A Comprehensive Procurement Intelligence Report