Ostomy Care Market – Global Industry Analysis, Size, Share, Trends and Forecast 2019 – 2025
Ostomy Care Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of ostomy care market by procedure (colostomy, ileostomy, and urostomy), product type (ostomy bag, and accessories), end user (hospitals and clinics, ambulatory surgery centers, and home care) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the ostomy care market it includes the five years Industry analysis and the 6 years annual forecast from to 2025. Some of the prominent participants in the global ostomy care market are Coloplast A/S, Hollister Incorporated, ConvaTec Inc., B. Braun Melsungen AG, 3M Company, Nu-Hope Laboratories, Inc., Alcare Co., Ltd., Marlen Healthcare, Smith & Nephew plc, and other companies. The global ostomy care market is projected to grow at a CAGR of 4.39% over the forecast period of 2019-2025.
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Increasing Geriatric Population Coupled with Increased Prevalence of Colorectal Cancer, Bladder Cancer, and Crohn’s Disease are the Key Market Driving Factors Responsible for the Growth of the Ostomy Care Market.
In the U.S., approximately 725,000 to 1million people have an ostomy and about 100,000 new ostomy procedures are performed each year. Furthermore, research suggests that typically ostomy patients are above 50 years. Therefore, increasing geriatric population coupled with increased prevalence of colorectal cancer, bladder cancer, and Crohn’s disease are the key market driving factors responsible for the growth of the ostomy care market. According to CCFA, approximately 1.6 million Americans have inflammatory bowel diseases and the number is anticipated to grow rapidly in the near future.
In addition, favorable reimbursement policies in countries with well-established healthcare infrastructure are expected to contribute to the growth of the ostomy care market in the near future. On the other hand, discomfort and issues associated with using the ostomy bags are likely to hamper the growth of the ostomy care market. Moreover, emerging economies such as India, China, and Brazil have experienced a significant rise in the development of healthcare infrastructure in the recent past and this trend is projected to continue over the forecast period.
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Europe Dominates the Ostomy Care Ostomy Care Market
Among the regions, Europe dominates the ostomy care market and is anticipated to remain dominant over the forecast period. The highest reported prevalence of ulcerative colitis values and Crohn’s disease were in Norway and Germany. In addition, the high prevalence of colorectal cancer and inflammatory bowel disease also propels the growth of the ostomy care market in Europe. In addition, the presence of several established players such as Coloplast and ConvaTec Inc. in Europe contribute to a significant share in the Europe ostomy care market. North America holds the second-largest share in the ostomy care market.
Moreover, a significant market share is attributable to the U.S. owing to the well-established healthcare facilities, favorable reimbursement policies, as well as high spending capacity of the people in the U.S. Approximately 7, 00,000 people are living with a stoma, and in the U.S, more than 1 million people have had a stoma. However, Asia Pacific is anticipated to grow at the fastest rate owing to the developing healthcare infrastructure in this region.
Ostomy Care Market: Segmentation
The report on the global ostomy care market covers segments such as procedure, product type, and end user. On the basis of procedure, the sub-markets include colostomy, ileostomy, and urostomy. On the basis of product type, the sub-markets include ostomy bag, and accessories. On the basis of end user, the sub-markets include hospitals and clinics, ambulatory surgery centers, and home care.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the ostomy care.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.