ID: MRFR/HC/6720-CR | 90 Pages | Published By Kinjoll Dey on August 2019
Stoma or Ostomy Care Market Overview
According to the reports, the stoma or ostomy care market is anticipated to reach USD 1,210.9 million with a growth rate of CAGR of 7.2%, by the end of 2024. The stoma is an artificial opening that allows farces to pass from the urinary tract or from the intestine. It is created with the help of the surgery tools at the lower part of the abdomen to release the waste linked with the digestive system. The different segments of ostomy include colostomy, urostomy, and ileostomy. These surgeries are performed over the patients according to the demand of the disease. The ostomy surgeries are performed on the patients who are suffering from inflammatory bowel diseases (IBD) which includes ulcerative colitis or Crohn’s disease, infection, malfunctioning or blockage of the intestine or urinary tract, intestinal cancer, and any damages in the specific part due to accident. The ostomy surgery allows the patients to discharge the biological waste through the small or large intestine, the end opening of the intestine is brought to the skin surface through the surgical process, where an external accessory like a pouch or bag is placed outside of the body. Near about 1.6 million people are suffering from inflammatory bowler disease in the United States and according to the reports currently in the US, 97,220 cases of colon cancer and about 26,240 cases of stomach cancer, which are continuously increasing the demand for stoma or ostomy which is therefore stimulating the growth of the market. There is a number of factors, boosting the growth of the stoma or ostomy care market which include, the advancement of the ostomy products, the contribution of the manufacturing companies in the advanced technologies, ease the usage of the products, will drive the market growth. Ostomy products provide control over the pH, which prevents skin infection, is likely to boost the market growth. This report contains all the information on the stoma or ostomy care market and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the stoma or ostomy and forecast to 2024 is also included in the report.Â
Covid 19 Analysis Of Stoma or Ostomy Care MarketÂ
On the flip side, the outbreak of covid 19 pandemics, the global market of stoma or ostomy market size fluctuates, from import, flexibly chain, future impact on the business and to the strategies of fare control provincial government. Improvement patterns of the industry (2021-2025), macroeconomic approaches and modern traditional format attributes, and the mechanical arrangement has been incorporated. According to the reports, the global market of stoma or ostomy care market will rise because of the covid 19 outbreak and it will provide a moderate growth rate during the forecast period 2020 to 2028. Considering the covid 19 facts, this report is a thorough investigation about how the pandemic whipped the industry from top to bottom.Â
Market DynamicÂ
The increasing generality of inflammatory bowel disease (IBD), awareness about ostomy/stoma care among the people, colorectal cancer and the availability of the equipment used for the treatment in the market, and the fixed reimbursement policies of the private and government organizations are the major factors driving the growth of the stoma or ostomy care market.
On the other hand, the risk involves with the surgery, complications of the post-hospital care, the pessimistic emotional and psychological impacts of having stoma or ostomy are predicted to hamper the growth of the stoma or ostomy care market report.
The growing awareness among the patients through education programs regarding the usage of the ostomy product is the most essential factor to shoot up the growth of the market, the developing countries are able to raise the reimbursement systems, it can be considered as a second major factor. Apart from this, the increasing geriatric populations which ultimately give rise to the number of patients who are suffering from defective bladder and colorectal cancer, rising ostomy surgeries of the bowel, are the other major factors for the stoma or ostomy care market growth.
With the rising online sales of ostomy products with the help of the internet, the emerging markets are creating growth opportunities, and medical tourism in the Asian countries is expected to create new opportunities for the stoma/ostomy care market in the forecast period 2021-2028. According to the ostomy life study from the demographic data of the Coloplast ostomy in 2016, there are about 53% female and 47% male patients have regular peristomal body profile.
The weak economic condition of the developing countries, lack of indemnification for the ostomy care bags, a postoperative complication of the surgery, high risks linked with ostomy surgeries, unfavorable psychological and emotional impact of the ostomy or stoma are predicted to hinder the growth of the stoma or ostomy care market. Â
The availability of substitutes in the market and the lack of awareness among the people are the major hurdles in the growth of the market.
The rising of inflammatory bowel diseases is predicted to fuel the growth of the global stoma or ostomy care market. The global stoma or ostomy market size for the ostomy or stoma care market is predicted to grow at a CAGR of 4.21% between 2020 to 2024.
On the basis of the system, the stoma or ostomy care market is segmented into a one-piece system, two-piece system, and skin barriers. The two-piece system segments considered for the high market shares of about 55.6% in the year 2018. Two-piece systems are very easy to operate, long-lasting and it is very suitable for changing the bag from the stoma, without detaching the skin barrier. On the other hand, the one-piece segment was the second-largest shareholder in the global stoma or ostomy care market in the year 2018, as compared to the two-piece ostomy system one-piece ostomy system is more frugal.
Stoma or Ostomy Care Market Segmentation Overview
On the basis of the application or usability, the stoma or ostomy market is segmented into closed-end bags, drainable bags, and others. On the basis of the application or usability, the stoma or ostomy market is segmented into closed-end bags, drainable bags, and others.
On the basis of the end-user, the stoma or ostomy market is segmented into hospitals, home care, clinics, and ambulatory surgical centers.
Stoma or Ostomy Care Market Regional AnalysisÂ
The Americas were the largest shareholders, holding shares of 42.8% in the year 2017. On The basis of the region, United States accounted for the largest shares of the market and it is the leading market in the region, holding shares of 86.4% in the year 2017. The further growth of the market is predicted to reach new heights because of the growing numbers of stoma or ostomy surgical procedures in the US. According to the America Cancer Society, 101,420 new colon cancer cases and 44,180 new rectal cancer cases are likely to propel the growth of the market in the year 2019. During the forecast period, Asia Pacific is predicted to register a CAGR of 7.6%. The European stoma or ostomy market is predicted to register the largest share in the market after the Americas, a market share of 38.1% in the year 2017. The advancement of the technologies, rising incidence of the congenital disabilities and bladder cancer, are the major factor for the growth of the market in these regions. Germany holds a share of 27.1% in the year 2017 and followed by the UK. The lowest market share comes under the Middle East and Africa, the rising awareness among people, and the availability of the products will upgrade the growth of the market during the forecast period.
Stoma or Ostomy Care Market Competitive landscapeÂ
The competitive landscape provides a detailed study of the competitors in the global stoma or ostomy care market. Details of the companies include revenue generated, market potential, company overview, global presence, investment in development and research, company financials, production facilities and sites, company strengths and weakness, production capacities, product width and breadth, product launch, and application dominance.
Major Key players
Report Overview
The following report comprises of –
Recent Developments
Global Stoma or Ostomy Care Market, on the basis of type
Global Stoma or Ostomy Care Market, on the basis of usage
 Global Stoma or Ostomy Care Market, on the basis of region
Americas
Europe
Asia-Pacific
Middle East & Africa
Report Attribute/Metric | Details |
---|---|
Market Size | 2024: USD 1,210.9 Million |
CAGR | 2018-2024: 7.2% |
Base Year | 2018 |
Forecast Period | 2027 |
Historical Data | 2017 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Surgery, Colostomy, Ileostomy and Urostomy |
Geographies Covered |
|
Key Vendors | Coloplast Corp. (Denmark), ConvaTec Inc. (UK), 3M (North Carolina), Smith & Nephew (UK), B. Braun Melsungen AG (Germany), Hollister Incorporated (US), Flexicare Medical Limited (UK), Welland Medical Limited (West Sussex), Marlen Manufacturing & Development Co. (Ohio), Tytex A/S (Denmark) |
Key Market Opportunities | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Key Market Drivers |
|
The stoma or ostomy care market is expected to grow at a 7.2% CAGR between 2016 to 2024.