This report provides exclusive insights into the COVID-19 impact on the Ostomy Care Accessories Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Ostomy Care Accessories Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Ostomy Care Accessories Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
Ostomy is a surgically created opening in the body for the discharge of waste from the body. Geriatric population is the most vulnerable population segment that is likely to have more ostomy surgeries due to the rise in incidents of bowel cancer and Crohn’s disease. The types of ostomies such as ileostomy (which connect to small intestines) and colostomy (which connects to the large intestines) connect to the external walls. Another type of ostomy is urostomy which connects the urinary system to the external wall. The ostomy is performed in case of diseases such as cancer, trauma, Crohn’s disease, inflammatory bowel disease, and bowel obstruction, among others. The ostomy bags are used for the purpose of collecting body waste such as stool. The bags can be disposed of, it is one of the most commonly used ostomy practice worldwide.
Market Insight
The global ostomy care bags and accessories market was worth USD 2304.7 million in 2017 and it is projected to reach to USD 3094.9 million in 2024, expanding at a CAGR of 4.33% between 2018 and 2024. Globally, the rise in geriatric population in major regions such as North America, Europe and the Middle East and some countries in the Asia-Pacific region is likely to augment the market size of ostomy care accessories and bags market, as the geriatric population is more susceptible to disorders of urinary and digestive systems, and bowel cancer. Moreover, growing awareness about ostomy among the end users and customers is projected to further drive the market for ostomy care accessories over the years to come. On the other side, the global ostomy care accessories market is restrained by factors such as the availability of other treatment methods and discomfort of using ostomy bags among the patients.
Moreover, Emerging economies of Asia, Latin America and Africa to provide more opportunities on the backdrop of economic development, technological advancements and R&D spending by companies in ostomy care segment and Government initiatives to promote compensation for ostomy surgeries to provide opportunities for the companies operating in the ostomy care accessories market are expected to provide more opportunities for the companies in ostomy care market. EMEA dominates the world ostomy care bags and accessories market in terms of dollar share, while Asia-Pacific is anticipated to grow at a CAGR of X.X% over the forecast period.
Segments Covered:
The report segments the global
ostomy care accessories market by product, procedure, end user, and region. On the basis of the product, the market is segmented as bags and accessories. On the basis of
procedure, the global ostomy care accessories market is segmented as colostomy, Ileostomy,
and urostomy. Furthermore, based on end user, the market is segmented as
ambulatory surgical centers, homecare settings, hospitals, and some others.
Geographic Coverage and Analysis:
The report provides regional
analysis covering geographies such as North America, EMEA, Asia-Pacific, and
Latin America. EMEA is the largest ostomy care accessories market. The increase
in ailments such as bladder cancer, colorectal cancer, and inflammatory bladder
disease along with the well-established system for medical reimbursements drive
the growth of the EMEA an ostomy care accessories market. Moreover, the
presence of a huge aging population drives the demand for ostomy care
accessories. The increase in per capita income allows more people to afford
ostomy care accessories in the North American region. Moreover, the aging
population in the region require ostomy care accessories for safe bowel
movements due to various health conditions. Asia-Pacific region is the fastest
growing market, as there is an increase in demand for access to better ostomy
healthcare facilities in South Asian and East Asian countries. There are
opportunities for major market players to expand in the developing countries,
as the awareness levels about ostomy care accessories are comparatively low and
hence there are prospects for establishing new markets with proper awareness
campaigns like in the established markets.
Companies Profiled:
The companies covered in the report include Alcare, B. Braun Melsungen AG, Coloplast Corp, Convatec, Smith
& Nephew, Hollister, Marlen Manufacturing, 3M, Nu-Hope Laboratories, and Other
Companies.
Report Highlights:
The report provides deep insights
on demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the demand for ostomy care accessories globally as well as
regionally. Moreover, 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 value chain analysis of ostomy care. Moreover, the study highlights
current market trends and provides forecast from 2018 to 2024. We also have
highlighted future trends in the ostomy care accessories market that will
impact 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. Additionally, the analysis highlights the rise and fall in the
market shares of the key players in the market. This report will help
manufacturers, suppliers, and distributors of the ostomy care accessories
market to understand the present and future trends in this market and formulate
their strategies accordingly.