New York, United States, March 06, 2020 (GLOBE NEWSWIRE) -- Estimated to be around US$455Mn in 2018, the global ostomy care accessories market is set to grow at 6.8% CAGR during 2019-2029. As projected by the new report by Persistence Market Research (PMR), key players in the market are running programs and campaigns to increase awareness regarding ostomy. Manufacturers are embracing technological advancements to introduce innovations in ostomy care accessories, boosting the growth of the market.
Ostomy Care Accessories Market: Key Findings
- Owing to the increasing application in remedy and prevention of peristomal skin complications, skin protection and skin barrier type of products will gain major market share during the forecast period.
- Attributing to growing demand across various end-use industries, sealing application will count for three-fourth market share
- Homecare settings will remain the prominent end-user on the back of reduced emergency visits to hospitals
- Europe stays in the forefront on grounds of the rising prevalence of inflammatory
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Ostomy Care Accessories Market – Key Growth Drivers
- Improvement in patient compliance and economic savings will be a vital factor in driving the growth of the ostomy care accessories market.
- Rapid advancements in the clinical management of ostomy to boost the market growth
- Increasing awareness regarding ostomy care to surge the demand for ostomy care accessories
- Innovations and smartphone integrations to create lucrative growth opportunities in the market
Ostomy Care Accessories Market – Key Restraints
- Poor reimbursement policies in developing economies for ostomy surgeries is restraining the market growth
- prolonged usage of ostomy drainage bags beyond their average lifetime reduce demand for new ostomy bags, hampering the growth of the market
Explore the complete Ostomy Care Accessories Market report with detailed market segmentation, 72 illustrative figures, and 25 data tables spread across 147 pages
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Competitive Analysis - Ostomy Care Accessories Market
The competitive landscape is highly fragmented in nature. Key players profiled in the global ostomy care accessories market include Coloplast Corp., Hollister Incorporated, Convatec, Inc., and 3M. Key market players are embracing technological advancements to achieve a competitive edge in the market. For instance, ConvaTech, Inc. launched Natura Convex Cut-to-Fit, to allow the consumers to switch between different types of pouches. Ease of cleaning and application has been working in favor of these pouches.
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More about the Report
This report provides a comprehensive analysis on global and regional levels along with the existing trends in the market, propelling the growth of the ostomy care accessories market. The study further elaborates on the ostomy care accessories market based on product type (Skin barriers, irrigation sets & sleeves, belt tapes adhesives, convex inserts, stoma caps, and skin protection), end-user (ambulatory surgical centers, hospitals, and home care settings) and application (lubrication, sealing, drainage, and cleansing), in five major geographic regions.
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