Global Ostomy Care Accessories Market-Trends, Top Manufactures, Market Demands, Industry Growth Forecast: 2023
The Infinium Global Research analyzes the report of Ostomy Care Accessories Market over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Ostomy Care Accessories Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global markets of Ostomy Care Accessories.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Ostomy Care Accessories Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Ostomy Care Accessories Market are Coloplast Corp, Convatec, Smith & Nephew, Hollister, Marlen Manufacturing, 3M, Nu-Hope Laboratories, and Other Companies. The global ostomy care bags and accessories market was worth USD 2304.7 million in 2017 and it is projected to reach to USD 3094.9 million in 2024, expanding at a CAGR of 4.33% between 2018 and 2024.
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Globally, the rise in geriatric population in major regions such as North America, Europe and the Middle East and some countries in the Asia-Pacific region is likely to augment the market size of ostomy care accessories and bags market, as the geriatric population is more susceptible to disorders of urinary and digestive systems, and bowel cancer. Moreover, growing awareness about ostomy among the end users and customers is projected to further drive the market for ostomy care accessories over the years to come. On the other side, the global ostomy care market is restrained by factors such as availability of other treatment methods and discomfort of using ostomy bags among the patients.
Moreover, Emerging economies of Asia, Latin America and Africa to provide more opportunities on the backdrop of economic development, technological advancements and R&D spending by companies in ostomy care segment and Government initiatives to promote compensation for ostomy surgeries to provide opportunities for the companies operating in the ostomy care market are expected to provide more opportunities for the companies in ostomy care market. EMEA dominates the world ostomy care bags and accessories market in terms of dollar share, while Asia-Pacific is anticipated to grow at a CAGR of X.X% over the forecast period.
The report segments the global ostomy care market by product, procedure, end user, and region. On the basis of product, the market is segmented as bags and accessories. On the basis of procedure the global ostomy care market is segmented as colostomy, Ileostomy, and urostomy. Furthermore, based on end user, the market is segmented as ambulatory surgical centres, homecare settings, hospitals and some others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, EMEA, Asia-Pacific, and Latin America. EMEA is the largest ostomy care accessories market. The increase in ailments such as bladder cancer, colorectal cancer, and inflammatory bladder disease along with the well-established system for medical reimbursements drive the growth of the EMEA an ostomy care accessories market. Moreover, the presence of huge aging population drives the demand for ostomy care accessories. The increase in per capita income allows more people to afford ostomy care accessories in the North American region. Moreover, the aging population in the region require ostomy care accessories for safe bowel movements due to various health conditions. Asia-Pacific region is the fastest growing market, as there is increase in demand for access to better ostomy healthcare facilities in South Asian and East Asian countries. There are opportunities for major market players to expand in the developing countries, as the awareness levels about ostomy care accessories are comparatively low and hence there are prospects for establishing new markets with proper awareness campaigns like in the established markets.
Major Key Players Mentioned in this Premium Report
The companies covered in the report include Alcare, B. Braun Melsungen AG, Coloplast Corp, Convatec, Smith & Nephew, Hollister, Marlen Manufacturing, 3M, Nu-Hope Laboratories, and Other Companies.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of ostomy care accessories globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of ostomy care.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the ostomy care accessories market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the ostomy care accessories market to understand the present and future trends in this market and formulate their strategies accordingly.
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