Stoma/Ostomy Care Market to Garner USD 3.59 Billion, Globally, by 2026 at 4.39% CAGR

Wilmington, 30 June, 2020: Axiom Market Research & Consulting (TM) added a report on global stoma/ostomy care market which includes study on product, usability, application, end user and across various countries of key regions across the globe. The global ostomy care market was anticipated to grow at a CAGR of 4.39 % for the forecast period 2020 to 2026. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the ostomy care market.

An ostomy is a surgical formation of an abdominal opening that allows a connection from an internal organ (such as the intestine) to the skin surface with the purpose of the elimination of bodily waste products, such as feces, urine and mucus. The ostomy drainage bags are attached to the artificial orifice to collect the bodily waste. The ostomy care systems are incorporated in treating numerous gastrointestinal disorders. Ostomy care includes products such as bags and accessories. Ostomy bag is attached to the skin of the patient by skin adhesives and is used as a receptacle for collection of urine or fecal material following a ureterostomy, colostomy, or ileostomy. There are different types of ostomy care accessories such as creams, pastes, deodorants, seals/barrier rings, etc.

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Global ostomy care market is analyzed based on product, usability, application, end user and geography. Based on the Product, the ostomy care market is categorized into ostomy care systems and ostomy accessories. Ostomy Care systems include one-piece system, two-piece system and skin barrier. Ostomy care accessories consists of cream, cleansers, pastes & powders, deodorants and other accessories. By usability, the ostomy care system market is classified into drainable and closed-end. The ostomy care market finds application in ileostomy, colostomy and urostomy. Based on end user, the market is classified into home care settings, hospitals and others. The global ostomy care market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.

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Increasing prevalence of conditions such as colorectal cancer, inflammatory bowel disease etc that require surgery and the creation of stoma is the major driver for the future growth of the global ostomy care market. According to Crohns & Colitis Foundation of America, approximately 1.6 million Americans currently have IBD, a growth of about 200,000 since the CCFA reported this figure in 2011. Besides, an increasing geriatric populace leading to an increase in the prevalence of age-related chronic conditions that require surgery will continue to supplement growth during the forecast period.

Asia Pacific market to be driven by increase in geriatric population in Japan, China and India:

In terms of revenue, Europe dominated the global ostomy care market in 2019. The market in Asia Pacific is likely to expand at a rapid pace over the estimated time frame. Expansion of the bowel stoma/ostomy care market in the region is credited to the growth geriatric population and rise in the number of patients suffering from conditions such as colorectal cancer, inflammatory bowel disease etc. Besides, new product launches, increase in awareness among people, and improving healthcare infrastructure are major factors driving the market in Asia Pacific.

Market Players :

The key competitors of this market include Coloplast A/S (Denmark), B Braun (Germany), Alcare Ltd. (Japan), Convatec Group (UK), Prowess Care (India), Hollister Incorporated (U.S.), Salts Healthcare Ltd (UK), Cymed (U.S.), Flexicare (UK), Perma-type Company Inc. (U.S.), 3M (U.S.), Marlen Manufacturing & Development Company (U.S.), Smith & Nephew (U.K.), Schena Ostomy Technologies (U.K.), Nu-hope Laboratories (U.S.), and Welland Medical Limited (U.K.) among others.

Key Findings from the report suggests:

Global ostomy care market is forecasted to be valued at USD 3516.53 million by 2026. The market is primarily driven by the increasing elderly population, chronic diseases, and increasing awareness.

Ostomy systems segment accounted for the largest share of the global ostomy care market in 2019. Valuing at USD 1989.50 million, the market for ostomy care system is anticipated to grow at a pace of 4.22% over the forecast period.

Colostomy segment held for major market share during the forecast period. Its large share can be attributed to the rising patient population and growing awareness about ostomy care.

The home care segment accounted for a major share of the global ostomy care market. The segment is likely to continue its dominance over the forecast period, owing to the high preference for homecare settings, availability of trained nurses and reduced emergency visits to hospitals.

The market for Asia-Pacific (APAC) is expected to grow at a highest CAGR of 5.25% during the forecast period. Factors such as rising healthcare spending and recent healthcare infrastructure improvements in many countries, including China and India expected to drive the market in the coming years.

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