Industry Background:
The global stoma care/ostomy care and accessories market are expected to grow in the future due to the rising number of patients suffering from colorectal cancer and defective bladder and increasing ostomy surgeries of the bowel. Ostomy surgeries of the bowel include colostomy, ileoanal reservoir, continent ileostomy, and ileostomy. Growing awareness among the patients regarding the use of ostomy products and technological advancements in ostomy products boosting the stoma care/ostomy care and accessories market in the forecasted period
According to AMA Research, the market for Stoma Care/Ostomy Care and Accessories is expected to register a CAGR of 4.1% during the forecast period to 2030. This growth is primarily driven by High Incidence of Chronic Diseases and Inflammatory Bowel Disease
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as ConvaTec (United Kingdom), Coloplast (Denmark), B. Braun (Germany), Hollister Incorporated (United States), Alcare (Japan), Nu-Hope (United States), Welland Medical (United Kingdom), Marlen (United States), BAO-Health (China) and Flexicare Medical (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2021, ConvaTec and Vizient signed a three-year contract for ostomy care products, which is expected to help ConvaTec grow its market presence.
In February 2023, HR Pharmaceuticals, Inc. launched Vitus Ostomy Care, a new product line designed to protect the stoma and skin while maintaining a tight seal.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Influencing Trend:
Technological Advancements in Ostomy Products and Growing Medical Tourism in Emerging Countries
Market Growth Drivers:
High Incidence of Chronic Diseases and Inflammatory Bowel Disease and Rising Geriatric Population Globally
Challenges:
High Cost of Ostomy Care-Related Products and Accessories
Restraints:
Discomforts related to Use of Ostomy Bags
Opportunities:
Growing Number of Awareness among the Patients Regarding the Use of Ostomy Products and Growing Internet Usage for Online Sales of Ostomy Products
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Stoma Care/Ostomy Care and Accessories Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Stoma Care/Ostomy Care and Accessories Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Stoma Care/Ostomy Care and Accessories players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Stoma Care/Ostomy Care and Accessories Study Sheds Light on
The Stoma Care/Ostomy Care and Accessories Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Stoma Care/Ostomy Care and Accessories industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Stoma Care/Ostomy Care and Accessories industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.