Press release
Virtual health assistants to keep the hopes high for Ostomy Care Accessories Market at a CAGR of 7.4%
An ostomy is a surgical procedure in which a stoma, or artificial opening, is created in the abdomen to allow the passage of waste from the digestive or urinary system. Ostomy care accessories are products that are used to manage and care for the stoma and surrounding skin. These products include ostomy bags or pouches to collect waste, skin barriers to protect the skin around the stoma, and adhesives to secure the bag or pouch to the skin.
The global ostomy care accessories market is expected to grow significantly in the coming years due to increasing prevalence of colorectal and bladder cancer, as well as increasing rates of inflammatory bowel disease. The market is also being driven by technological advancements in ostomy care products, such as the development of more discreet and comfortable ostomy bags and pouches.
Improved patient compliance with enhanced quality of life coupled with significant economic savings are playing a vital role in shaping the market for ostomy care accessories. Moreover, increase in awareness regarding ostomy care through several initiatives taken by various private and non-profit organizations is expected to be another important factor surging market growth.
The ostomy care accessories market is also segmented by end user, including hospitals, home care, and others. The hospitals segment is expected to account for the largest share of the market due to the high number of ostomy surgeries performed in hospitals. The home care segment is also expected to witness significant growth due to the increasing trend of patients receiving care at home.
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Company Profiles:
Coloplast Group
Hollister Incorporated
ConvaTec, Inc.
Smith & Nephew
Scapa Healthcare
3M Company
B.BraunMelsungen
Salts Healthcare Ltd.
Torbot Group Inc.
Nu-Hope Laboratories, Inc.
Marlen Development and Manufacture
FNC Medical
Cymed Ostomy Co
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Key Takeaways from Market Study
Owing to wide utilization of products such as skin protection and skin barrier, among others, as a prevention and remedy for peristomal skin complications, demand for these types of products is expected to grow over the coming years.
Demand for skin-friendly and long-wear-time seals is constantly increasing, due to which, the sealing segment is expected to contribute 3/4 market share.
Home care settings are expected to increase significantly, owing to rising adoption of homecare services and increasing availability of trained nurses and reduced emergency visits to hospitals.
Rise in prevalence of inflammatory bowel diseases, increasing number of ostomy procedures, and growing usage of ostomy care accessories contributed to the dominance of Europe in the global market for ostomy care accessories.
"Development of advanced ostomy care accessories is one of the key focus of prominent manufactures in the market," says an analyst of Persistence Market Research.
New Product Launches - Strategy by Key Players
Some of the major players in the market are Coloplast Corp., Convatec, Inc., 3M, and Hollister Incorporated. Launch of advanced products is a key strategy being followed by these market players.
For instance, in May 2018, Spaca Healthcare introduced new hydrocolloid offerings for ostomy application as Scapa Soft-Pro Hydrocolloid technology.
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https://www.persistencemarketresearch.com/market-research/ostomy-care-accessories-market.asp
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