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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
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.
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
North America, Europe, Asia Pacific, Latin America, MEA
U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
3M Company, Alcare Co., Ltd., B. Braun Melsungen AG, Clinimed Group (Welland Medical Limited), Coloplast A/S, Cymed Micro Skin, Hollister Incorporated, ConvaTec, Inc., Nu-Hope Laboratories, Inc., Schweitzer-Mauduit International, Inc. (Scapa Healthcare), Smith and Nephew Plc., and Torbot Group Inc. Access Table PDF
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-
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.
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