What This Report
Will Provide?
This study involved four major
activities in estimating the current size of the ostomy care market. Exhaustive
secondary research was carried out to collect information on the market, its
peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with
industry experts across the value chain through primary research. Both top-down
and bottom-up approaches were employed to estimate the complete market size.
After that, market breakdown and data triangulation procedures were used to
estimate the size of segments and subsegments.
Expected Revenue Growth:
The global ostomy care market size is
projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, at a
CAGR of 4.4%
Major Growth Boosters:
Market growth is driven mainly
by factors such as rising incidence of bladder cancer, colorectal cancer, and
inflammatory bowel disease; growing geriatric population; a growing number of
awareness programs to educate patients regarding the use of ostomy products;
technological advancements in ostomy products; and efficient reimbursement
system in developed countries are some of the factors driving the growth of the
ostomy care market.
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Recent Developments:
In 2019, Coloplast A/S (Denmark) launched SenSura Mio Baby and SenSura Mio Kids
products.
In 2019, Welland Medical (UK) launched the Aurum range of skin-friendly ostomy
products in Sweden at the Swedish ET-nurse congress held in Malmö. The products
include Aurum, Aurum Xtra, Aurum Convex, and Aurum Profile.
In 2019, Hollister (US) established a new production site in Kaunas, Lithuania.
The newly established facility is engaged in manufacturing ostomy care and
continence care products.
Regional Growth Analysis:
Europe to Dominate The Market:
The
large share of Europe can be attributed to the growing patient population, rising
geriatric population (as this population segment is more prone to developing
gastrointestinal diseases which require ostomy procedures), and favorable
reimbursement scenario. The population structure of European countries
represents low birth rates and higher life expectancy. The rising aging
population indicates future increases in the incidence of cancers of the colon
and bladder, IBD, and incontinence.
Key Questions Addressed in The Report:
1. Who are the top 10 players
operating in the global ostomy care market?
2. What are the drivers, restraints, opportunities, and challenges in the
ostomy care Industry?
3. What are the opportunities for stakeholders and provide details of the
competitive landscape for key players?
4. What will be growth of ostomy care in North America, Europe, Asia Pacific,
Latin America, and the Middle East and Africa?
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Ostomy Care Bags:
Based
on the product, the market is categorized into ostomy bags and ostomy accessories.
The bags segment is further classified into type, surgery type, and usability.
The ostomy bags segment is anticipated to hold major market share over the
forecast period owing to the rise in the patient population undergoing ostomy
surgeries (either ileostomy, colostomy, or urostomy), technological
advancements in the segment, and efficient reimbursement system in developed
countries.
Key Players:
Coloplast A/S (Denmark), Hollister Incorporated (US), ConvaTec Group plc
(UK), B. Braun (Germany), ALCARE Co., Ltd. (Japan), Nu-Hope (US), Marlen
Manufacturing & Development Company (US), Welland Medical Limited (UK),
Baohe Ostomy Care (China), Flexicare Medical Limited (UK), Cymed (US), Schena
Ostomy Technologies, Inc. (US), Perma-Type Company Inc. (US), 3M (US), Smith
& Nephew (US), and Salts Healthcare (UK), among others, are the key players
in the ostomy care market.
