A recent report published by Infinium Global Research on the ostomy
care market provides an in-depth analysis of segments and sub-segments in the
global as well as regional ostomy care market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
ostomy care market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
ostomy care market. According to the report, the global ostomy care market is
projected to grow at a CAGR of 4.39% over the forecast period of 2019-2025.
Surgical procedures such as ileostomy, colostomy, and urostomy are
on the rise. The rising prevalence of colorectal cancer, bowel obstruction,
infection, fecal incontinence, diverticular disease and inflammatory bowel
diseases (IBD) such as Crohn's disease or ulcerative colitis are the major
factors for the rise in ostomy surgical procedures. Cancer is by far the most
prevalent reason for the formation of a stoma and has been shown to account for
more than half of the cases in large post-marketing clinical studies. However,
a stoma operation causes profound changes in a patient’s life because of the
resulting physical damage, disfigurement, loss of bodily function, and change
in personal hygiene. Therefore, ostomy care products are anticipated to make a
great impact in the near future. Ostomy bags are one of the most commonly used
ostomy products worldwide.
In the U.S., approximately 725,000 to 1million people have an
ostomy and about 100,000 new ostomy procedures are performed each year.
Furthermore, research suggests that typically ostomy patients are above 50
years. Therefore, increasing geriatric population coupled with increased
prevalence of colorectal cancer, bladder cancer, and Crohn’s disease are the
key market driving factors responsible for the growth of the ostomy care
market. According to CCFA, approximately 1.6 million Americans have
inflammatory bowel diseases and the number is anticipated to grow rapidly in
the near future. In addition, favorable reimbursement policies in countries
with well-established healthcare infrastructure are expected to contribute to
the growth of the ostomy care market in the near future. On the other hand,
discomfort and issues associated with using the ostomy bags are likely to
hamper the growth of the ostomy care market. Moreover, emerging economies such
as India, China, and Brazil have experienced a significant rise in the development
of healthcare infrastructure in the recent past and this trend is projected to
continue over the forecast period.
Among the regions, Europe dominates the ostomy care market and is anticipated to remain dominant over the forecast period. The highest reported prevalence of ulcerative colitis values and Crohn's disease were in Norway and Germany. In addition, the high prevalence of colorectal cancer and inflammatory bowel disease also propels the growth of the ostomy care market in Europe. In addition, the presence of several established players such as Coloplast and ConvaTec Inc. in Europe contribute to a significant share in the Europe ostomy care market. North America holds the second-largest share in the ostomy care market. Moreover, a significant market share is attributable to the U.S. owing to the well-established healthcare facilities, favorable reimbursement policies, as well as high spending capacity of the people in the U.S. Approximately 7, 00,000 people are living with a stoma, and in the U.S, more than 1 million people have had a stoma. However, Asia Pacific is anticipated to grow at the fastest rate owing to the developing healthcare infrastructure in this region.
The report on the global ostomy care market covers segments such as
procedure, product type, and end user. On the basis of procedure, the
sub-markets include colostomy, ileostomy, and urostomy. On the basis of product
type, the sub-markets include ostomy bag, and accessories. On the basis of end
user, the sub-markets include hospitals and clinics, ambulatory surgery
centers, and home care.
The report provides profiles of the companies in the market such
as Coloplast A/S, Hollister Incorporated, ConvaTec Inc., B. Braun Melsungen AG,
3M Company, Nu-Hope Laboratories, Inc., Alcare Co., Ltd., Marlen Healthcare,
Smith & Nephew plc, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of ostomy care
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
Please Choose One of them.