Ostomy Care and Accessories Market to Reach $4.8 Bn, Globally, by 2031 at 4.5% CAGR: Allied Market Research

Increase in number of elderly individuals who are highly susceptible to gastrointestinal diseases and surge in the prevalence of inflammatory bowel diseases (IBDs), such as Crohn's disease & ulcerative colitis drive the growth of the global ostomy care and accessories market.

PORTLAND, Ore, July 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Ostomy care and accessories Market by Product (Ostomy Bags, Ostomy Accessories), by Application (Colostomy, Ileostomy, Urostomy), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, Home Care Settings): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global ostomy care and accessories industry was estimated at $3.0 billion in 2020, and is anticipated to hit $4.8 billion by 2030, registering a CAGR of 4.5% from 2021 to 2030. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.

Download Report (245 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/16773

Drivers, restraints, and opportunities-

Increase in number of elderly individuals who are highly susceptible to gastrointestinal diseases and surge in the prevalence of inflammatory bowel diseases (IBDs), such as Crohn's disease & ulcerative colitis drive the growth of the global ostomy care and accessories market. On the other hand, unfavorable reimbursement scenario, growing incidence of post-surgery infections, and stoma care complications impede the growth to some extent.  However, rise in initiatives by governments & non-governmental organizations to promote awareness about ostomy care is expected to pave the way for lucrative opportunities in the industry.

Covid-19 scenario-

• The majority of hospitals and clinics across the world were restructured to heighten the hospital capacity for individuals diagnosed with Covid-19 and there was a steep decline in demand for ostomy care accessories.
• Non-essential surgical procedures took a potential backlog owing to the rising Covid-19 cases, which worsened the scenario even more.
• However, as the global situation is getting back on track at a slow & steady pace, the market for ostomy care and accessories has also started recovering.

Scope of the Report: -

The ostomy bags segment to dominate by 2030-

By product, the ostomy bags segment contributed to more than half of the global ostomy care and accessories market share in 2020, and is expected to lead the trail by 2030, due to increasing number of stoma surgeries. The ostomy accessories segment, on the other hand, is expected to exhibit the fastest CAGR of 5.5% from 2021 to 2030, owing to high-end developments in technology and launch of new products.

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The colostomy segment to maintain the lion's share-

Based on application, the colostomy segment generated around half of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. This is due to rise in number of colostomy surgeries across the world. The ileostomy segment, on the other hand, would manifest the fastest CAGR of 5.2% from 2020 to 2030. This is attributed to surge in cases of small intestine-related cancer.

The hospitals and clinics segment to lead the trail-

Based on end user, the hospitals and clinics segment held nearly two-thirds of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. Rise in hospital admission cases due to upsurge in IBDs and intestine-related cancer propels the segment growth. The home care settings segment, nevertheless, would manifest the fastest CAGR of 6.0% from 2021 to 2030.

Europe garnered the major share in 2020-

Based on region, Europe held the major share in 2020, generating nearly two-fifths of the global ostomy care and accessories market. Increase in inflammatory bowel diseases, robust healthcare infrastructure, and the presence of key players across the region fuel the market growth.  Asia-Pacific, simultaneously, would garner the fastest CAGR of 6.1% by 2030. This is owing to rise in investment and wide number of facilities offering ostomy care services across the province.

Key players in the industry-

• B. Braun Melsungen AG
• Coloplast A/S
• Cymed Micro Skin
• 3M Company
• Alcare Co., Ltd.
• ConvaTec, Inc.
• Torbot Group Inc.
• Nu-Hope Laboratories, Inc.
• Schweitzer-Mauduit International, Inc. (Scapa Healthcare)
• Smith and Nephew Plc.
• Clinimed Group (Welland Medical Limited)

The report analyzes these key players of the global ostomy care and accessories market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the ostomy care industry, market segments, current trends, estimations, and dynamics of the ostomy care and accessories market analysis from 2020 to 2030 to identify the prevailing ostomy care and accessories market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the ostomy care and accessories market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global ostomy care and accessories market trends, key players, market segments, application areas, and market growth strategies.

 Key Market Segments

• By Product
• Ostomy Bags
• One-piece Bag
• Two-piece Bag
• Ostomy Accessories
• Stoma Rings
• Ostomy Flanges
• Flange Extenders
• Barriers
• Others
• By Application
• Ileostomy
• Urostomy
• Colostomy
• By End User
• Hospitals and Clinics
• Ambulatory Surgical Centers
• Home Care Settings
• By Region
• North America
• U.S. ostomy care and accessories market
• Canada ostomy care and accessories market
• Mexico ostomy care and accessories market
• Europe
• Germany ostomy care and accessories market
• France ostomy care and accessories market
• U.K. ostomy care and accessories market
• Italy ostomy care and accessories market
• Spain ostomy care and accessories market
• Russia ostomy care and accessories market
• Rest of Europe
• Asia-Pacific
• China ostomy care and accessories market
• Japan ostomy care and accessories market
• Australia ostomy care and accessories market
• India ostomy care and accessories market
• South Korea ostomy care and accessories market
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Saudi Arabia
• South Africa
• Rest of LAMEA

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