The report predicts the global Stoma/Ostomy Care Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“The ostomy care market projected to grow at a CAGR of 4.5%.”
The global ostomy care market is projected to reach USD 2.99 billion by 2031 from USD 2.40 billion in 2022, at a CAGR of 4.5%. Factors such as the high incidence of bladder/colorectal cancer/inflammatory bowel disease; growing number of awareness programs to educate patients regarding the use of ostomy products; and efficient reimbursement system in developed countries are driving the growth of the market. However, unfavorable reimbursement scenarios in most developing countries and discomfort and other issues associated with the use of ostomy bags are expected to restrain the growth of this market
“The ostomy care accessories segment is expected to be the fastest growing segment during the forecast period.”
The ostomy care accessories market is expected to grow at the highest CAGR during the forecast period owing to the growing skin problems due to frequent removal and re-application of skin barrier of ostomy bags and rising awareness about care of peristomal skin.
“The two-piece bags segment expected to be the largest segment in 2017.”
By system, the ostomy bags market is segmented into one-piece, two-piece, and skin barrier. Two-piece bags are expected to hold the largest share of the market in terms of volume in 2017. Since, we have considered skin barriers as a separate category, they contribute the highest value due to their higher prices.
“RoW expected to register the highest growth rate in the ostomy care market.”
Geographically, the ostomy care market is segmented into North America, Europe, Asia, and RoW. The Rest of the World is expected to register the highest growth rate during the forecast period, due to rising patient pool in these countries and on-going positive changes in healthcare infrastructure of countries in this region. However, Europe is expected to command the largest share of the market in 2017 due to the high patient pool and efficient reimbursement structure.
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Breakdown of supply-side primary interviews:
- By Company Type – Tier 1 – 31%, Tier 2 – 48% and Tier 3 – 21%
- By Designation – – C-level – 19%, Director-level – 28%, Others – 53%
- By Region – North America – 31%, Europe – 23%, Asia – 19%, RoW – 17%
The major players in the ostomy care market are ConvaTec (UK), Coloplast (Denmark), Hollister Incorporated (US), B. Braun (Germany), Alcare (Japan), Nu-Hope (US), Marlen (US), Welland Medical (UK), BAO-Health (China), Flexicare Medical (UK), Cymed (US), Schena Ostomy (US), Perma-Type (US), 3M (US), and Smith & Nephew (UK).
This report studies the ostomy care market based on product and end user. The report also includes ostomy care system volume market data. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends. The report forecasts the revenue of the market segments with respect to four main regions and respective countries.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis– market ranking analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging segments of the ostomy care market; and high-growth regions and their drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the ostomy care market
- Product Development/Innovation: Detailed insights on research and development activities and new product launches in the ostomy care market
- Market Development: Comprehensive information about lucrative emerging markets, by product, end user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the ostomy care market
- Competitive Assessment: In-depth assessment of growth strategies, products, and manufacturing capabilities of leading players in the ostomy care market
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