Press Release / Ostomy/Stoma Care and Accessories Market
Ostomy/Stoma Care and Accessories Market to reach $4.23 billion by 2026; Increasing Number of Ostomy Procedures to Favor Market Growth
March 13, 2020 | HealthcareThe global ostomy/stoma care and accessories market size is projected to reach USD 4.23 billion by 2026 on account of rising demand for advanced stoma care products. Fortune Business Insights™ provides an elaborative analysis of this market in its report, titled “Ostomy/Stoma Care and Accessories Market Size, Share & Industry Analysis, By Product [Ostomy Bags (One-piece and Two-piece) and Accessories], By Procedure (Colostomy, Ileostomy, and Urostomy), By End User (Hospitals, Home Care, and Specialty Clinics) and Regional Forecast, 2019-2026”. According to the report, the value of the market stood at USD 2.81 billion in 2018 and expected to register a CAGR of 5.2% from 2019 to 2026.
Stealth Belt Introduces Novel Ostomy Support Belts
In February 2020, the US-based colostomy accessories specialist Stealth Belt launched a line of innovative ostomy belts conceived to balance aesthetics with functionality. One of the belts in the suite boasts of a “step-in, slip-on” feature, which is aimed at ensuring maximum comfort and ease of movement for the patient. Most importantly, the belt is designed in a way that it does not become a hindrance during leisure activities. Innovations such as these are leading the ostomy/stoma care and accessories market trends owing to the varied patient demands for these products. Stoma and ostomies are procedures that can cause a host of complications and pain for a patient and creative solutions can help alleviate some part of their suffering.
Rising Number of Ostomy Patients to Feed Market Growth
The ostomy care and accessories market growth is premised on the increasing number of ostomy patients around the globe. For example, statistics of the Western Australian Ostomy Association Incorporated showed that Australia alone is home to nearly 46000 ostomates, while the global tally is around 3 million. This has also pushed up the number of ostomy surgeries. The United Ostomy Associations of America estimates that approximately 100,000 ostomy procedures are performed in the US annually. An important factor contributing to the rising incidence of these procedures is the growing prevalence of ostomy risk factors, mainly bowel and colorectal cancer and inflammatory bowel disorders. This has resulted in the swelling of the patient pool for ostomy care and enhanced the ostomy care market demand.
To Get the detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/ostomy-stoma-care-and-accessories-market-102425
The SenSura Product Line Puts Coloplast in a Commanding Position in the Market
Coloplast developed the innovative SenSura series to cater to patients who have undergone the ostomy procedure. Since its launch in 2012, the offering elevated the standing of the company in the market and currently, Coloplast leads the market in terms of revenue and share. Emulating Coloplast, many other players are developing and launching product series and are continually upgrading and expanding their existing products.
Industry Development:
- January 2017: The UK-based medical products and technologies leader, ConvaTec Group, completed its acquisition of EuroTec Beheer B.V., the Dutch ostomy appliance manufacturer, for €25 million. This move would help ConvaTec to establish its presence in mainland Europe through EuroTec’s strong distribution networks in Belgium and Netherlands.
List of Key Players Covered in the Ostomy/Stoma Care and Accessories Market Report:
- Salts Healthcare
- B. Braun Melsungen AG
- Hollister Incorporated
- Coloplast Corp
- Welland Medical Limited
- ALCARE Co., Ltd.
- PAUL HARTMANN AG
- ConvaTec Inc.
Further Report Findings:
- Europe is poised to dominate the ostomy/stoma care and accessories market share as the region had generated a revenue of USD 1.38 billion in 2018. Main driving factors for the market here include rising adoption of homecare services, improvements in stoma care by governments, and presence of ostomy care professionals in the continent.
- Frequent product launches and rising instances of ostomy surgeries will play a key role in augmenting the market in North America. In Asia-Pacific, the primary growth driver is expected to be the expanding older population in major Asian economies such as India and Japan, as per the stoma care market analysis.
- The ostomy accessories segment (by product) is anticipated to rise at a considerable pace owing to the growing utilization of powders, sprays, and creams to prevent skin infections.
- High volume of colostomies at the global level is expected to aid the colostomy segment lead the market during the forecast period.
Global Ostomy/Stoma Care and Accessories Market Scope
ATTRIBUTE | DETAILS |
Study Period | 2015-2026 |
Base Year | 2018 |
Forecast Period | 2019-2026 |
Historical Period | 2015-2017 |
Unit | Value (USD billion) |
Segmentation | By Product
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By Procedure
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By End User
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By Geography
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- 2018
- 2015-2017
- 140
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