MARKET OVERVIEW
An ostomy is a surgical procedure in which a stoma, or an opening, is created in the body to allow the elimination of bodily waste. Ostomy care is the management of the stoma and the associated skin, as well as the collection and disposal of the waste. Ostomy care products include bags and other accessories that are worn over the stoma to collect and contain waste, as well as products that are used to clean and care for the skin around the stoma. The market is expected to surge significantly due to the increasing incidence of chronic diseases such as cancer, inflammatory bowel disease, and other conditions that require ostomy surgery. Additionally, an aging population, greater awareness about ostomy care, and technological advancements in ostomy care products are also driving market growth.
MARKET SCOPE
The "Global Ostomy Care Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the ostomy care market with detailed market segmentation by product type, surgery type, shape of skin barrier, end user, and geography. The report provides key statistics on the market status of the leading ostomy care market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global ostomy care market is bifurcated into bags and accessories.
- Based on surgery type, the global ostomy care market is segregated as ileostomy, colostomy, and urostomy.
- Based on shape of skin barrier, the global ostomy care market is categorized into flat and convex.
- Based on end user, the market is segmented into ambulatory surgical centers, hospitals, and home care settings.
MARKET DYNAMICS
Driver
- Growing incidence of inflammatory bowel /colorectal cancer/ bladder diseases
- Increasing awareness programs for educating patients about the usage of Ostomy products
- Technological advancements and increasing automation by several companies.
Restraints
- Rising adoption of alternative treatments
- Distress and other issues related with the use of ostomy bags
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global ostomy care market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The ostomy care market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the ostomy care market in these regions.
IMPACT OF COVID-19 ON OSTOMY CARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Healthcare professional now present consultation via video conferencing as well as phone calls, in view of the spread of the pandemic. This is more than likely to benefit the ostomy care market in the years to follow. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the ostomy care market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The impact of SARS-CoV-2 has changed across nations with alternating cardiovascular indications. The market payers from ostomy care market are anticipated to lucrative growth opportunities in the future with the rising demand for ostomy care in the global ostomy care market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the ostomy care market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Hollister Incorporated
- Nu-Hope Laboratories, Inc.
- ConvaTec Group PLC
- ALCARE Co., Ltd.
- Flexicare Medical Limited
- B. Braun Melsungen AG
- 3M
- Coloplast
- Marlen Manufacturing and Development Company
- Welland Medical Limited