New York, NY, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ostomy Care and Accessories Market by Product (Ostomy Care Bags [Surgery Type {Ileostomy, Colostomy, Urostomy, and Others} and Pouches], Ostomy Care Accessories [Pastes and Powders, Creams, Cleansers, Tapes, and Other Accessories]), by Application (Sealing, Cleansing, Lubrication, and Drainage), and by End-User (Home Care, Hospitals, and Ambulatory Surgical Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global ostomy care and accessories market was valued at approximately USD 2.50 billion in 2017 and is expected to generate revenue of around USD 3.43 billion by end of 2024, growing at a CAGR of around 4.65% between 2018 and 2024.
The stoma is the end of the ureter or the bowel that protrudes through the abdominal wall. The ostomy is referred to an opening created in the body surgically for the discharge of body wastes. Some of the major factors driving the growth of ostomy care and accessories market are the increasing number of aged population, awareness towards ostomy care products, a high number of ostomy surgeries owing to a high incidence rate of Crohn’s disease as well as bowel/bladder cancer and technological advancements. However, unstable compensation systems are expected to restrict the growth of the market over the forecast period.
Browse through 66 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Ostomy Care and Accessories Market: By Type, Products, Size, Share, Applications, Analysis and Forecast Report, 2017 - 2024”.
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The ostomy care and accessories market are segmented on the basis of product into ostomy care accessories and ostomy care bags. The ostomy care bags are further segmented into surgery type which includes ileostomy, colostomy, urostomy, and other surgeries and by pouches. The ostomy care accessories market is further segmented into creams, cleansers, pastes and powders, tapes, and other accessories. Ostomy care bags held the largest share of the ostomy care and accessories market, while ostomy accessories are likely to grow at the highest CAGR during the forecast period. Demand for better healthcare facilities, increase in various gastrointestinal diseases, and post-operative surgeries are anticipated to affect the growth of the ostomy care accessories market across the globe.
Based on application, the market is segmented into sealing, cleansing, lubrication, and drainage. Of these, the stoma cleansing segment accounted for the largest share of the market and is anticipated to generate higher revenue in the forecast period. Stoma sealing helps in the reduction of leakage. The cleansing application protects the skin and gently cleans the stoma. Drainage application includes accessories used by the colostomies. The lubrication helps in ensuring that the content is always at the bottom of the bag and not around the stoma.
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Based on end-user, the market is segmented into home care, hospitals, and ambulatory surgical centers. Of these, the home care segment accounted for the largest share of the market and is anticipated to generate higher revenue in the forecast period. This growth is mainly attributed to the rising incidences of risk factors such as colorectal cancer ulcerative colitis and Crohn’s disease.
Europe is anticipated to be the leading market for the ostomy care and accessories market, followed by North America. As per the stats provided by the Centers of Disease Control and Prevention, around 1.3% of the adults in the U.S. which accounts for almost up to 3.1 million patients are reported to be suffering from inflammatory bowel disease as of 2017 which have increased the hospitalization rate in this country. In Europe, a large population base is suffering from inflammatory bowel diseases, Crohn’s disease, and bladder cancer. Furthermore, numerous breakthrough technological developments taking place in terms of new product development is further driving the growth of the market in these two regions.
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Asia Pacific is likely to show high growth in the ostomy care and accessories market and is also projected to grow at high CAGR in comparison to other regions. This growth is primarily due to growing operational activities by key players, growing awareness about ostomy care and accessories available in the market, and the rising demand for better healthcare facilities in the developing countries like Bangladesh, Philippines, India, China, and Indonesia. Moreover, Japan’s ostomy education which is a non-profit organization approved by Ministry of Health, Labor and Welfare also conducts various activities concerned with stoma care in order to deliver a better life to the patients suffering from medical issues related to ostomy.
Latin America and the Middle East & Africa are also important regional markets which are likely to register moderate growth rate over the forecast period. The countries in these regions are projected to register noticeable growth owing to high burden of cancers, rising geriatric population base, and increased government funding. Thus, all the above parameters are expected to propel the market growth in these regions for ostomy care and accessories.
Browse the full "Ostomy Care and Accessories Market by Product (Ostomy Care Bags [Surgery Type {Ileostomy, Colostomy, Urostomy, and Others} and Pouches], Ostomy Care Accessories [Pastes and Powders, Creams, Cleansers, Tapes, and Other Accessories]), by Application (Sealing, Cleansing, Lubrication, and Drainage), and by End-User (Home Care, Hospitals, and Ambulatory Surgical Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/stoma-care-ostomy-care-accessories-market
Some of the leading players in ostomy care and accessories market include Coloplast, Alcare, Nu-Hope, Welland Medical, BAO-Health, Flexicare Medical, Schena Ostomy, 3M, Smith & Nephew Plc, ConvaTec, B. Braun, Marlen, and Hollister Incorporated. In March 2015, Welland Medical introduced Aurum 2, a range of 2-piece ostomy pouches that are inclusive of the flange with added medical grade Manuka honey.
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This report segments the global ostomy care and accessories market as follows:
Global Ostomy Care and Accessories Market: Product Segment Analysis
- Ostomy Care Bags
- By Surgery Type
- Ileostomy
- Colostomy
- Urostomy
- Others
- Pouches
- By Surgery Type
- Ostomy Care Accessories
- Pastes & Powders
- Creams
- Cleansers
- Tapes
- Other Accessories
Global Ostomy Care and Accessories Market: Application Segment Analysis
- Sealing
- Cleansing
- Lubrication
- Drainage
Global Ostomy Care and Accessories Market: End-User Segment Analysis
- Home Care
- Hospitals
- Ambulatory Surgical Centers (ASC’s)
Global Ostomy Care and Accessories Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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