Press release
The Ostomy Care Accessories Market to foray into digital innovation, witnessing a CAGR of 6.3%
Worldwide revenue from the ostomy care accessories market was about US$ 549.2 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 6.3% to reach a valuation of US$ 1.1 Bn by the end of 2033.Market Size and Growth:
As assessed by Persistence Market Research, sealing application is expected to hold a largest market share of around 75.1% by 2023. Overall, ostomy care accessories market sales account for approximately 22.6% revenue share in the global stoma care market, which was valued at around US$ 2.6 Bn at the end of 2022.
Drivers and Restraints
The ostomy care accessories market is influenced by several drivers and restraints. One of the major drivers is the rising prevalence of bowel diseases, including colorectal cancer, Crohn's disease, and ulcerative colitis. The increasing number of patients undergoing ostomy surgeries, coupled with the growing awareness of the availability of ostomy care accessories, is expected to drive market growth. Additionally, technological advancements and the introduction of new and innovative products are further propelling market growth. However, the high cost of ostomy care accessories and the lack of reimbursement policies in some regions are restraining market growth. Moreover, the social stigma associated with the use of ostomy bags and the discomfort and inconvenience experienced by patients while using these accessories are also hindering market growth. Overall, the ostomy care accessories market is expected to grow in the coming years, driven by the increasing prevalence of bowel diseases and the introduction of new and advanced products.
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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
Market Segmentation:
Product:
Belts, Tapes, Adhesives
Convex Inserts
Irrigation Sets & Sleeves
Skin Protection and Skin Barriers
Stoma Caps
Application:
Drainage
Sealing
Lubrication
Cleansing
End User:
Hospitals
Ambulatory Surgical Centers
Home Care Settings
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Competition Landscape
In order to maintain a dominant position in the industry by expanding their product portfolio, major companies in the ostomy care accessories market are concentrating on acquisitions. Key manufacturers and distributors are also forming alliances to broaden their reach on the international market and support end users for more successful market penetration. The leading companies are also concentrating on making acquisitions that would assist in establishing a broad and robust distribution network.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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