Global Ostomy Care Market to Showcase Higher Revenue Growth Steered by Rising Investments, reports F
The ostomy care market continues to expand a steady pace owing to the rapidly growing geriatric population and constant spike in the number of ostomy surgeries in bladder cancer, inflammatory bowel diseases, and bowel cancer.
[USPRwire, Fri Sep 20 2019] The report studies the ostomy care market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on global ostomy care market insights to its wide online database including upcoming trends and market growth factors through 2029. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.
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The ostomy care market continues to expand a steady pace owing to the rapidly growing geriatric population and constant spike in the number of ostomy surgeries in bladder cancer, inflammatory bowel diseases, and bowel cancer. Additionally, the continuing rise in the number of patient awareness programs on the use of ostomy products, and novel product development are some of the vital determinants that are highly likely to shape the dynamics of the ostomy care market during 2019-2029.
In view of the rapidly growing number of stoma surgeries, the demand for ostomy care pouches and accessories has grown significant in recent years. The Fact.MR analysis anticipates that the ostomy care market valued ~US$ 3Bn in 2018, and the lucrativeness is highly likely to grow 1.6 X through 2029.
Demand for Two Piece Ostomy Pouches on Rise
Increasing prevalence of inflammatory bowel diseases, including Crohn’s disease or ulcerative colitis, fecal incontinence, diverticular disease, and intestinal cancer, coupled with the rising health care expenditure in line with novel products in ostomy care are determinants that are anticipated to fuel the growth of the ostomy care market during the foreseeable period. One piece ostomy care pouches have been witnessing wide adoption for over years, however, the two piece pouches have now emerged as a viable and improved substitute to the traditional variants. This falls in line with the cost competitiveness and easy availability of two piece pouches. For that matter the adoption of two piece ostomy care pouches is growing at a steady pace across hospitals and homecare setting for cancer and inflammatory bowel disease among others.
Aesthetic Ostomy Care Pouches Becoming an Essential Add On
Number of ostomy surgeries performed globally are growing at a rapid pace, and half of them are performed on females. The availability of ostomy pouches was limited to white color and transparent types for decades, however, the scenario is likely to change in the coming years. The shifting focus of patients on wearing medical equipment and pouches that don’t hamper their aesthetic value or out appearance, is rapidly changing the big picture of the ostomy care market. Several companies are developing and offering designer and aromatic ostomy care pouches to cater to the shifting preference of the users. Such growing inventions and advancements in the ostomy care market are creating a stream of market growth opportunities.
Customized & Advanced Ostomy Pouches - Way to Grow
While the ostomy surgeries continue to grow in children as well as neonates, demand for age-specific ostomy care pouches and accessories is growing at an unprecedented pace. As the market continues to fall short of sufficient companies that offer age-group specific variants, leading market players have shifted their focus on customized manufacturing to appeal to a wide pool of customers. A large number of people suffer from leakage problems through the stoma on long journey, which in turn has created a considerable demand for leak-proof and odour-proof ostomy care pouches. This has propelled several market players to manufacture customized offerings, which in turn is likely to drive the growth of the ostomy care market in the years to come.
Proliferating Medical Device Industry Underpinning Growth
The number of companies manufacturing ostomy care products has grown considerably in the recent years, which in turn continues to create greater incremental opportunities for market growth. While leading market players, such as Coloplast and ConvaTec continue to introduce novel ostomy care pouches and accessories to meet customer demands, the lucrativeness of the market is growing at a steady pace. Some regional companies have also placed their focus on providing doorstep service for home care settings to strength their position in the ostomy care market.
Developed Regions Leading Growth
Europe continues to lead the ostomy care market owing to the rapidly increasing prevalence of inflammatory bowel disease (IBD) and growing awareness about ostomy care or stoma surgeries. While the incidence of ulcerative colitis and Crohn’s disease in Europe continues to grow more and more every passing year, the region is anticipated to reside a considerable number of IBD suffers. Increasing incidence of IBD is among the key rendering drivers of the market in Europe.
- In July 2019, Coloplast introduced two novel products SenSura® Mio Baby and SenSura® Mio Kids that are specifically designed for premature babies and kids.
- In 2017, ConvaTec launched Esteem™+ Flex Convex one-piece system for individuals suffering from colostomies, urostomies, and ileostomies.
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Amid the growing competition in the ostomy care market, leading players have shifted their focus on launching ostomy bags with convex shape and multiple flanges. These are not only easy to attach to the stomach due to their good fixing capacity, but also ensure that bags tie to the stomach properly, providing comfort to the patient. While the market forerunner are focusing on strengthening their market position, the market entrants are increasingly eying the launch of paediatric ostomy bags to garner traction in the competitive ostomy treatment market. Only a few leading companies, such as ConvaTec Inc. offer paediatric ostomy bags in their product lines.
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