Global Ostomy Care Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Product Type (Ostomy Bags, Ostomy Accessories [Pastes & Powders, Creams & Cleansers, Other Accessories]), By Application (Ileostomy, Colostomy, and Urostomy), By End User (Hospitals & Specialty Centers, Ambulatory Care Centers and Home Care Settings), By Region (Europe, North America, MEA, Asia Pacific, and CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
Ostomy Care Market Insights
Ostomy medical procedures is a careful therapy for changing the movement of intestinal substances of the body. This is primarily embraced during the expulsion of unhealthy entrail. Colostomy, Urostomy, and Ileostomy are the major segments of ostomy surgeries. Hence, an increasing number of registered surgeries of the bowel will act as a prime driver for market growth. Moreover, the rising incidence of bowel disease, high prevalence of cancer of colorectal, and bladder will lead to an increased number of ostomy surgeries. Also developing countries with huge geriatric patient population, rising awareness about the importance of getting bowel surgeries done as precautionary measures, the launch of various technically sound products, and favorable reimbursement policies of ostomy related surgeries in the developed nations will help the market pick up the pace during 2020-2026 time frame.
Ostomy Care Market: By Product Type
The market has various categories of ostomy care products, amongst which are ostomy bags and accessories. The ostomy bags will be the highest revenue sale contributor in the entire market owing to increasing surgeries and the launch of a wide range of ostomy bags in the market. Moreover, supporting reimbursement policies for the purchase of ostomy bags will help the adoption pattern increase positively.
Ostomy Care Market: By Application
Colostomy, Urostomy, and Ileostomy are the major segments of ostomy surgeries. Due to the increasing rate of bowel cancer, inflammatory bowel disease, and bladder cancer, the market for colostomy will be the highest amongst all the other types of surgeries during the forecast period. In the North American region, ~40-45% of the bowel patient population undergoes colostomy surgery every year.
Ostomy Care Market: By End-User
According to the end-use industry analysis, the market can be seen as hospitals & specialty centers, home care set up, and ambulatory care centers. Considering the patient registration in hospitals and specialty centers for bowel surgeries and other related surgeries, and the rising incidence of bladder cancer, the market for the hospital as an end-user will flourish during the forecast period.
Ostomy Care Market: By Region
The geographical study of the Ostomy care market concludes that Asia-Pacific will have the highest CAGR value followed by Europe and North America. The major reasons being, the rising trend of medical tourism, high awareness regarding cancer in general, and the rapid launch of advanced ostomy bags in the Asia market. However, considering the market share point of view, North America will be the leader in the market. This is mainly due to awareness and adoption of technically advanced ostomy bags, and flourished knowledge of bowel, and bladder cancer amongst surgeons in the US, Mexico, and Canada.
Ostomy Care Market Share and Competitor Analysis
Major companies in the market are 3M, Convatec Group Plc., Alcare Co., Ltd., Cymed, Hollister Incorporated, Flexicare Medical Limited, B. Braun, Coloplast, Baohe Ostomy Care, Marlen Manufacturing & Development Company, Perma-Type Company, Inc., Nu-Hope Laboratories, Inc., Schena Ostomy Technologies, Inc., Welland Medical Limited and Smith & Nephew among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, Hollister Incorporated in alliance with United Ostomy Associations of America (UOAA), showcased their company product line and also hosted a webinar on the importance of ostomy care surgeries.
In September 2020, Welland opened its sales and distribution office in Belgium to launch its products and start its distribution in the Belgium market.
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The Global Ostomy Care Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Ostomy Care Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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