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DUBLIN--(BUSINESS WIRE)--Oct 4, 2022--
The "Ostomy Care and Accessories Market By Product, By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global ostomy care & accessories market was valued at $3,010.30 million in 2020, and is estimated to reach $4,773.43 million by 2030, growing at a CAGR of 4.5% from 2021 to 2030.
An ostomy is a surgically created artificial opening known as stoma in the abdomen to allow the elimination of bodily wastes. It is used to treat various gastrointestinal or urinary tract-related diseases. Depending on the reason for the procedure, it might be temporary or permanent.
Most stomas are incontinent, which means that the passage of bodily wastes from the stoma is not under voluntary control. Colorectal cancer, bladder cancer, Crohn's disease, ulcerative colitis, injury, birth defects, and other gastrointestinal or urinary medical conditions all require an ostomy treatment. Depending on the surgery's purpose, a stoma might be created in various parts of the body such as the colon or ileum.
Colostomy, ileostomy, and urostomy are the most common types of ostomies. Ostomy care involves ostomy bags for waste collection, which can be one piece or two pieces. Furthermore, ostomy accessories such as stoma rings, ostomy flanges, flange extenders, barrier sprays, barrier wipes, barrier creams, and powders are important elements of the ostomy care regimen, with each serving a specific purpose.
The major factors driving the growth of the global ostomy care & accessories market include increase in geriatric population suffering from gastrointestinal or urinary disorders, rise in prevalence of inflammatory bowel disorders (IBDs), and surge in cases of bladder & colorectal cancers.
Moreover, surge of chronic diseases leads to increase in the number surgeries, which may further require temporary ostomy care, thus propelling the adoption of ostomy care products. Ostomy bags have become more popular among ostomates as technology has advanced. Sensors integrated in ostomy bags are a significant characteristic that draws customer's attention, fueling the growth of the ostomy drainage bags market.
In addition, technological advancements; launch of various products; strategies among the key players such as acquisition, collaboration, and agreement drives the ostomy industry. For instance, February 2022, Coloplast A/S, a global leader in ostomy care announced the launch of its SenSura Mio range of ostomy products in Singapore. This new range provides superior fits to various body shapes, owing to the elastic adhesive and optimum discretion. Thus, increase in accessibility of such products is propelling the market growth.
However, unfavorable reimbursements as well as complications such as skin irritation, dehydration, and bowel obstruction restrain the growth of the market. Conversely, launch of plethora of products and rise in healthcare investments collectively suffice the unmet medical needs, especially in developing regions, which, in turn, are expected to foster the demand for ostomy products. Moreover, surge in demand for customized fit stoma products is anticipated to offer remunerative opportunities for key players to invest in the market during the forecast period.
Key Benefits For Stakeholders
Key Market Segments
By Product
By Application
By End User
By Region
Key Market Players
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KEYWORD:
INDUSTRY KEYWORD: NURSING SURGERY MEDICAL DEVICES MEDICAL SUPPLIES BIOTECHNOLOGY MANAGED CARE HEALTH GENERAL HEALTH ONCOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/04/2022 11:24 AM/DISC: 10/04/2022 11:24 AM
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