Press release
Asia Pacific Stoma Care/Ostomy Care and Accessories (COVID 19 Version) Market: Hollister, Coloplast ConvaTec, Alcare, 3M, B. Braun, Marlen Manufacturing, Nu-Hope Laboratories, Smith & Nephew
Overview:Stoma care or ostomy care and accessories are used to protect stoma, an opening in front of the abdomen made for surgery, and also to collect urine and fecal material after a surgery (ureterostomy, ileostomy, or colostomy). Different ostomy care accessories include bags, seals, pouch closure, pouch cover, and stoma hat/cap. The Asia Pacific stoma care/ostomy care and accessories market is expected to grow at a higher rate due to the high incidence of colorectal cancer in its leading countries.
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Drivers:
An increasing number of defective bladder and colorectal cancer patients, increasing ostomy surgeries, and a rising geriatric population are major factors driving the growth of the Asia Pacific stoma care/ostomy care and accessories market. For instance, according to the Indian Council of Medical Research (ICMR), colon cancer ranks 8th in women, and rectal cancer ranks 9th in men in India. Moreover, the growing preference for home care and the availability of different types of ostomy care accessories are contributing to market growth.
Restraints:
Increasing awareness regarding healthy diets that prevent colorectal cancer is one of the factors hampering the growth of the Asia Pacific stoma care/ostomy care and accessories market.
Regional Analysis:
South Korea dominates the Asia Pacific stoma care/ostomy care and accessories market due to its highest rate of colorectal cancer. For instance, according to the National Center for Biotechnology Information (NCBI), colorectal cancer is the second most common cancer in South Korea. Japan stands second in the market since colorectal cancer is the third most common cancer in Japan. According to NCBI, 10% of men and 8% of women are likely to diagnose with colorectal cancer in their lifetime.
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Competitive Section
The key players of the Asia Pacific stoma care/ostomy care and accessories market are Hollister, Coloplast ConvaTec, Alcare, 3M, B. Braun, Marlen Manufacturing, Nu-Hope Laboratories, and Smith & Nephew.
In 2019, Hollister established its new production site in Lithuania that is engaged in ostomy care products manufacturing.
In 2019, Coloplast launched SenSura Mio Baby and Kids products
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