Global Ostomy / Ostomy Care Market Research Report 2021:
Dublin, July 16, 2021 (GLOBE NEWSWIRE) – The report “Stoma / Ostomy Care – Global Market Trajectory & Analytics” has been added to ResearchAndMarkets.com offer.
Global Ostomy / Ostomy Care Products Market To Reach $ 4.1 Billion By 2026
Amid the COVID-19 crisis, the global market for ostomy / ostomy care products estimated at US $ 3 billion in 2020 is expected to reach a revised size of US $ 4.1 billion by 2026, with growth at a CAGR of 5.2% from analysis. period.
Ostomy care bags, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.1% to $ 3.7 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the ostomy care accessories segment is readjusted to a revised CAGR of 5.7% for the next 7 year period.
This segment currently accounts for a 13.6% share of the global ostomy / ostomy care products market. Major growth factors of ostomy care bag segment include increasing prevalence of bladder cancer, UT cancer, IBD, etc. ; increased cases of obesity; technological advances in products; increased preference for different ostomy surgeries in adults and youth; and the availability of refunds.
In addition, increased awareness of peristomal skin care is also expected to help the category grow. Availability through e-commerce platforms and supplier’s continued efforts to increase awareness of ostomy care accessories among target users ensures steady growth opportunities in ostomy care accessories segment.
Market growth is expected to be bolstered by increasing cases of colorectal and bladder cancer and inflammatory bowel disease. The ostomy market is also benefiting from the increasing survival rates of colorectal and bladder cancer. The increase in people’s life expectancy bodes well for growth prospects, given the chronic nature of the conditions and the growing need to use ostomy products.
Another key factor which is expected to generate gains in the market includes the phenomenon of aging of the world population which is expected to further enlarge the target pool. Along with this are the increasing prevalence rates of inflammatory bowel diseases, such as ulcerative colitis and Crohn’s disease, which require patients to undergo surgery.
The US market is estimated at $ 886.9 million in 2021, while China is expected to reach $ 423.9 million by 2026
The United States ostomy / ostomy care products market is estimated to be worth US $ 886.9 million in 2021. The country currently accounts for a 28.11% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 423.9 million in 2026, with a CAGR of 7.8% during the analysis period. Other notable geographic markets include Japan and Canada, which are each expected to grow 3.9% and 4.2%, respectively, over the period of analysis.
In Europe, Germany is expected to grow by around 5% CAGR while the rest of the European market (as defined in the study) will reach $ 453.4 million by the end of the analysis period. Europe is leading the market growth due to the high prevalence of inflammatory bowel disease (IBD) which includes ulcerative colitis or Crohn’s disease leading to an increase in cases of ostomy surgery.
A larger patient pool as well as a more favorable reimbursement structure are also contributing to the growth of the ostomy care products market in Europe. The increasing aging of the population, the increase in cases of intestinal disorders and the increase in R&D investments are the growth factors in the North America region.
Developing countries are emerging hot spots for ostomy care products, owing to rapid economic growth, increased access to health services, increasing levels of awareness and increasing incidence of ostomy. cases of colorectal cancer that result in ostomy procedures.
Main topics covered:
1. MARKET OVERVIEW
- Impact of Covid-19 and an impending global recession
- The race between the virus and vaccines is intensifying. In the midst of this chaotic battle, where is the global economy heading in 2021?
- Progress on vaccinations, why should companies care?
- With the IMF’s upward revision to global GDP forecast for 2021, most companies are optimistic about a global economic return.
- How has the healthcare industry been and continues to be affected by the pandemic and what is the new normal?
- With the COVID-19 pandemic exposing the lack of preparedness of global healthcare, the political focus is increasingly on restarting healthcare systems around the world
- Impact of COVID-19 on ostomy care
- A prelude to ostomy care products
- Ostomy Care Products Market Expected to Grow Rapidly After COVID-19
- Ostomy bags are the largest segment
- Main market drivers and constraints for ostomy bags
- Ostomy care accessories market on the growth path; Show the fastest growth rate
- Stoma dish vs. Convex devices
- Europe, the most dominant regional market with the largest share
- Home care dominates the market
- A constant focus on product innovation increases market growth
- Market shares of global competitors
- Coloplast is the market leader in ostomy care products
- Launch of Sensura Mio Convex gives Coloplast a competitive advantage
- Coloplast expands its SenSura Mio range with new ostomy care products
- Brava Seal of Protection
- SELECT GLOBAL BRANDS
2. FOCUS ON CERTAIN PLAYERS(Total 48 featured)
- ALCARE Co., Ltd.
- Bao-Health Medical Instrument Co., Ltd.
- Braun Melsungen AG
- Coloplast A / S
- ConvaTec Group Plc.
- Fortis medical products
- Hollister Inc.
- Marlen Manufacturing & Development Co.
- Nu-Hope Laboratories
- Perma-Type Company, Inc.
- Skincare feat
- Safe and simple
- Sels Santé Ltd.
- Torbot Group Inc
- Welland Medical Ltée
3. MARKET TRENDS AND FACTORS
- Growing Aging Population – A Key Growth Driver
- Increasing incidence of colorectal cancer, bladder cancer and IBD and driving the need for ostomy care products
- Inflammatory bowel disease: incidence statistics
- Product innovations and advancements to drive market expansion
- Select innovations in ostomy care
- Alfred SmartBag
- Ostoform seal
- Transcutaneous Implant Disposal System (TIES)
- Ostomy pouch for self-sealing therapy (S2TOP)
- SenSura Mio concave system
- Increase access to health care in emerging regions
- Growing middle class population fosters growth
- Rising Obesity Levels Drives Market Growth
- Patient retention programs by major ostomy players to increase product sales
- Favorable repayments in developed markets
- Online sales of ostomy products increase
- Market constraints
- Skin irritation and other ostomy problems
- Global Drive for earlier diagnosis and treatment
4. WORLD MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Market facts and figures
- An Overview of the United States Ostomy Products Market
- Aging Baby Boomers Drive The Ostomy Market
- Reimbursement for Ostomy Care Products in the U.S. Market
- Medicare reimbursement rate for certain ostomy procedures
- Major Players in the U.S. Ostomy Market
- The US Ostomy Care Market by Major Player (2020): Market Share Breakdown of Hollister, Convatec, Coloplast and Others
- Coloplast’s focus on IDNs in the ostomy market
- Market analysis
THE REST OF EUROPE
REST OF ASIA PACIFIC
REST OF LATIN AMERICA
- Total number of profiled companies: 48
For more information on this report, visit https://www.researchandmarkets.com/r/sltma5