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Ostomy Care and Accessories Market to Reach $4.8 Bn, Globally, by 2031 at 4.5% CAGR: Allied Market Research
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Drivers, restraints, and opportunities-
Increase in number of elderly individuals who are highly susceptible to gastrointestinal diseases and surge in the prevalence of inflammatory bowel diseases (IBDs), such as Crohn's disease & ulcerative colitis drive the growth of the global ostomy care and accessories market. On the other hand, unfavorable reimbursement scenario, growing incidence of post-surgery infections, and stoma care complications impede the growth to some extent. However, rise in initiatives by governments & non-governmental organizations to promote awareness about ostomy care is expected to pave the way for lucrative opportunities in the industry.
The ostomy bags segment to dominate by 2030-
By product, the ostomy bags segment contributed to more than half of the global ostomy care and accessories market share in 2020, and is expected to lead the trail by 2030, due to increasing number of stoma surgeries. The ostomy accessories segment, on the other hand, is expected to exhibit the fastest CAGR of 5.5% from 2021 to 2030, owing to high-end developments in technology and launch of new products.
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The colostomy segment to maintain the lion's share-
Based on application, the colostomy segment generated around half of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. This is due to rise in number of colostomy surgeries across the world. The ileostomy segment, on the other hand, would manifest the fastest CAGR of 5.2% from 2020 to 2030. This is attributed to surge in cases of small intestine-related cancer.
The hospitals and clinics segment to lead the trail-
Based on end user, the hospitals and clinics segment held nearly two-thirds of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. Rise in hospital admission cases due to upsurge in IBDs and intestine-related cancer propels the segment growth. The home care settings segment, nevertheless, would manifest the fastest CAGR of 6.0% from 2021 to 2030.
Europe garnered the major share in 2020-
Based on region, Europe held the major share in 2020, generating nearly two-fifths of the global ostomy care and accessories market. Increase in inflammatory bowel diseases, robust healthcare infrastructure, and the presence of key players across the region fuel the market growth. Asia-Pacific, simultaneously, would garner the fastest CAGR of 6.1% by 2030. This is owing to rise in investment and wide number of facilities offering ostomy care services across the province.
Key players in the industry-
B. Braun Melsungen AG
Coloplast A/S
Cymed Micro Skin
3M Company
Alcare Co., Ltd.
ConvaTec, Inc.
Torbot Group Inc.
Nu-Hope Laboratories, Inc.
Schweitzer-Mauduit International, Inc. (Scapa Healthcare)
Smith and Nephew Plc.
Clinimed Group (Welland Medical Limited)
The report analyzes these key players of the global ostomy care and accessories market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the ostomy care industry, market segments, current trends, estimations, and dynamics of the ostomy care and accessories market analysis from 2020 to 2030 to identify the prevailing ostomy care and accessories market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the ostomy care and accessories market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global ostomy care and accessories market trends, key players, market segments, application areas, and market growth strategies.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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