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Ostomy Care Market Worth USD 2.99 billion to Reflect Impressive Growth in Coming Years

· Healthcare,Medical Devices

The high incidence of bladder/colorectal cancer/inflammatory bowel disease; rising geriatric population; growing number of awareness programs to educate patients regarding the use of ostomy products; technological advancements in ostomy products; and efficient reimbursement system in developed countries are some of the factors driving the growth of the ostomy care market.

Ostomy Care Market by Product (Bags (Surgery Type (Ileostomy, Colostomy, Urostomy), System (One, Two-Piece), Usability (Drainable, Closed), Shape (Flat, Convex)), and Accessories (Powder, Paste)), End User (Home, Hospital).
The global ostomy care market is projected to reach USD 2.99 billion by 2022 from USD 2.40 billion in 2017, at a CAGR of 4.5%
Global Ostomy Care Market is Segmented on:
1. Product
2. Usability
3. System
4. End User
5. Geography
The bags segment is further categorized into surgery type, system type, and usability. On the basis of surgery type, ostomy bags are segmented into – ileostomy, colostomy, and urostomy. On the basis of system type, the market is classified into one-piece systems, two-piece systems, and skin barrier. On the basis of usability, bags are segmented into drainable and closed-end bags.
Home care settings is expected to grow at the highest CAGR during the forecast period. This significant growth of the segment is attributed to the rising incidence of risk factors such as Inflammatory Bowel Disease (Crohn’s disease and Ulcerative Colitis) and colorectal cancer.
Geographical Growth Analysis:
Europe is estimated to hold the largest market share in 2017 owing to the fact that European countries have a higher prevalence of IBD which is results in a higher number of ostomy surgeries. The unfavorable reimbursement scenarios in most of developing countries, and discomfort and other issues associated with the use of ostomy bags are expected to restrain the growth of this market.
Key Players:
The major players in the stoma care market profiled in this report are ConvaTec (UK), Coloplast (Denmark), and Hollister Incorporated (US). Other players involved in this market include B. Braun (Germany), Alcare (Japan), Nu-Hope (US), Marlen (US), Welland Medical (UK), BAO-Health (China), Flexicare Medical (UK), Cymed (US), Schena Ostomy (US), Perma-Type (US), 3M (US), and Smith & Nephew (UK).

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