Global Stoma/Ostomy Care Market Report 2021: Market to Reach $4.1 Billion by 2026 - Product Innovations and Advancements to Spur Market Expansion

DUBLIN, July 15, 2021 /PRNewswire/ -- The "Stoma/Ostomy Care - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Stoma/Ostomy Care Products Market to Reach $4.1 Billion by 2026

Amid the COVID-19 crisis, the global market for Stoma/Ostomy Care Products estimated at US$3 Billion in the year 2020, is projected to reach a revised size of US$4.1 Billion by 2026, growing at a CAGR of 5.2% over the analysis period.

Ostomy Care Bags, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$3.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ostomy Care Accessories segment is readjusted to a revised 5.7% CAGR for the next 7-year period.

This segment currently accounts for a 13.6% share of the global Stoma/Ostomy Care Products market. Major factors driving growth for the Ostomy Care Bags segment include increase in prevalence of bladder cancers, UT cancers, IBD etc.; increase in obesity cases; technological advancements in products; increased preference for different ostomy surgeries among adults and youth alike; and reimbursement availability.

Furthermore, increased awareness about peristomal skincare is also expected to contribute to the category`s growth. Availability through e-commerce platforms and continued efforts of vendors to increase awareness about ostomy care accessories among target users ensures steady growth opportunities in the Ostomy Care Accessories segment.

The market growth is set to be augmented by increasing cases of colorectal and bladder cancer and inflammatory bowel disease. The ostomy market also benefits from the increasing survival rates from colorectal and bladder cancer. The increasing life expectancy of people bodes well for growth prospects, considering the chronic nature of the conditions and the increasing need to use ostomy products.

Another key factor that is expected to drive gains in the market includes the aging phenomenon of global population that is expected to further magnify the target pool. Concurrent with this is the rise in the prevalence rates of inflammatory bowel diseases, such as ulcerative colitis and Crohn`s disease, which necessitates patients to undergo surgical procedure.

The U.S. Market is Estimated at $886.9 Million in 2021, While China is Forecast to Reach $423.9 Million by 2026

The Stoma/Ostomy Care Products market in the U.S. is estimated at US$886.9 Million in the year 2021. The country currently accounts for a 28.11% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$423.9 Million in the year 2026 trailing a CAGR of 7.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.2% respectively over the analysis period.

Within Europe, Germany is forecast to grow at approximately 5% CAGR while Rest of European market (as defined in the study) will reach US$453.4 Million by the end of the analysis period. Europe dominates market growth due to the high prevalence of Inflammatory Bowel Diseases (IBD) that includes ulcerative colitis or Crohn`s diseases, resulting in increased ostomy surgery cases.

Higher patient pool as well as a more favorable reimbursement structure also contributes to the market growth for ostomy care products in Europe. Increasing aging population, growing cases of intestinal disorders and rising investment in R&D are the factors driving growth in the North America region.

Developing countries are emerging hotspots for ostomy care products, due to rapid economic growth, increased access to healthcare services, growing awareness levels and increasing incidence of colorectal cancer cases that serve to drive ostomy procedures.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
• Progress on Vaccinations, Why Should Businesses Care?
• With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback.
• How the Healthcare Industry Has & Continues to be Impacted by the Pandemic & What's the New Normal?
• With the COVID-19 Pandemic Exposing Global Healthcare Unpreparedness, There is Increasing Policy Led Focus on Rebooting Health Systems Worldwide
• COVID-19 Impact on Ostomy Care
• A Prelude to Ostomy Care Products
• Ostomy Care Products Market Set to Witness Rapid Growth Post COVID-19
• Ostomy Care Bags Constitute the Largest Segment
• Key Market Drivers & Restraints for Ostomy Bags
• Ostomy Care Accessories Market on Growth Trajectory; Exhibit Fastest Growth Rate
• Ostomy Flat Vs. Convex Appliances
• Europe, the Most Dominant Regional Market with Largest Share
• Home Care Dominates the Market
• Consistent Focus on Product Innovation Augments Market Growth
• COMPETITION
• Global Competitor Market Shares
• Coloplast Leads the Ostomy Care Products Market
• Launch of Sensura Mio Convex Provides a Competitive Edge to Coloplast
• Coloplast Expands SenSura Mio Range with New Ostomy Care Products
• Brava Protective Seal
• SELECT WORLD BRANDS

2. FOCUS ON SELECT PLAYERS(Total 48 Featured)

• 3M
• ALCARE Co., Ltd.
• Bao-Health Medical Instrument Co., Ltd.
• Braun Melsungen AG
• Coloplast A/S
• ConvaTec Group Plc.
• Cymed
• Fortis Medical Products
• Hollister Inc.
• Marlen Manufacturing & Development Co.
• Nu-Hope Laboratories
• Perma-Type Company, Inc.
• Prowess Care
• Safe n Simple
• Salts Healthcare Ltd
• Torbot Group Inc
• Welland Medical Ltd

3. MARKET TRENDS & DRIVERS

• Growing Aging Population - A Key Growth Driver
• Rising Incidence of Colorectal Cancer, Bladder Cancer, and IBD and Drives the Need for Ostomy Care Products
• Inflammatory Bowel Diseases: Incidence Statistics
• Product Innovations and Advancements to Spur Market Expansion
• Select Ostomy Care Innovations
• Alfred SmartBag
• Ostoform Seal
• SphinX
• StomaLife
• Transcutaneous Implant Evacuation System (TIES)
• Self-Sealing Therapy Ostomy Pouch (S2TOP)
• SenSura Mio Concave System
• Increasing Access to Healthcare in Emerging Regions
• Rising Middle Class Population Aids Growth
• Increasing Obesity Levels Propels Market Growth
• Patient Retention Programs by Major Ostomy Players to Increase Products' Sales
• Favorable Reimbursements in Developed Markets
• Rising Online Sales of Ostomy Products
• Market Restraints
• Skin Irritation and Other Issues Related with Ostomy
• Global Drive for Earlier Diagnosis and Treatment

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

• Market Facts & Figures
• An Overview of the Ostomy Products Market in the US
• Aging Baby Boomers Drive Ostomy Market
• Reimbursement for Ostomy Care Products in the US Market
• Medicare Reimbursement Rates for Select Ostomy Procedures
• Leading Players in the US Ostomy Market
• The US Ostomy Care Market by Leading Player (2020): Market Share Breakdown of Hollister, Convatec, Coloplast, and Others
• Coloplast's Focus on IDNs in Ostomy Market
• Market Analytics

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION

• Total Companies Profiled: 48

For more information about this report visit https://www.researchandmarkets.com/r/a1veua

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