Estimated to witness a steady growth, the global ostomy care market is highly likely to value ~US$ 3 Bn in 2019. Fact.MR presents indispensable insights on the ostomy care market in its latest business intelligence report that envisages a moderate growth outlook for the market. Growth of ostomy care market remains highly influenced by growing incidences of inflammatory bowel diseases, and rising demand for advanced leak-proof ostomy bags.
Gains Remain concentrated in Ostomy Pouches
The Fact.MR study indicates that the sales of ostomy pouches continue to grow considerable in line with their notable demand over other accessories that are used for ostomy care. In fact, ostomy pouches accounted for ~80% of the overall sales in 2018. In view of the growing demand for ostomy pouches due to the considerable spike in the prevalence of ulcerative colitis and inflammatory bowel disease among aging population, market is accelerating at a rapid pace. Additionally, growing penetration of advanced technology in medical devices is further paving way for the development of use-specific and customized variants, thereby pushing the overall growth of the market. High convenience and user-friendliness are garnering limelight as the key growth strategies of the market players. Adoption of other accessories used in ostomy care market is also picking pace, however they remain considerable low as compared to ostomy pouches.
After reading the ostomy care market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the ostomy care market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
The ostomy care market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
The evaluation of the competitive landscape in the ostomy care market covers the profile of the following top players:
- Braun Melsungen AG.
- ConvaTec Inc.
- Coloplast A/S
- ALCARE Co., Ltd
- Peak Medical Ltd
- Marlen Manufacturing
- Nu-Hope Laboratories Inc.
- Torbot Group, Inc
Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=4062
To expand the understanding of opportunities in the global ostomy care market report looks at close quarters into the opportunities and new avenues in following key segments:
- Home Care Settings
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
As per the Fact.MR report, growing aged population in several developed countries continue to suffer from diseases, such as inflammatory bowel disease and ulcerative colitis. This accelerating prevalence of such conditions has been creating a considerable demand for the development of different kinds of ostomy bags and accessories in the ostomy care market. This, coupled with the rise in the number of trauma cases in varying age groups continue to create a favorable scenario for the sales of ostomy bags, thereby driving the growth of the ostomy care market.
Growing advancements in the development of ostomy care bags and accessories have been pushing the launch of novel ostomy bag compatible accessories that are more convenience driven than the traditional variants. Several market frontrunners are developing and offering hydrophilic barriers with filters, owing to their ability to fix the bags on the abdominal cavity, while providing high level of comfort to the patient. Furthermore, the penetration of reusable and cost-effective variants are also solidifying the growth of the ostomy care marker.
Adoption Potential in Asia Pacific Growing
Though the developed regions, such as Europe and North America are leading in the ostomy care market, the lucrativeness of Asia Pacific is also growing at a steady pace. Demand for ostomy care bags & accessories has growing considerably in India, China, Japan, and Australia in recent years, owing to the cost-competitiveness and user-friendly aspect of convex inserts. Additionally, the Fact.MR study mentions that the slightly less stringent regulatory approach for medical devices in Asia Pacific continues to create a stream of growth opportunities for the market players.
Rapidly developing healthcare infrastructure and a considerable spike in the number of awareness programs & educational seminars are also adding to the lucrativeness of the Asia Pacific ostomy care market. In October 2018, Asia and South Pacific Ostomy Association (ASPOA) celebrated the World Ostomy Day, with an objective to grow awareness about ostomy among the patients-in particular and public, in general. Such growing initiatives in the direction of increasing awareness among ostomy is envisaged to augument the sales of the ostomy care produc