Global Ostomy Market Highlights Over 2022 - 2031

The global ostomy market is estimated to garner around USD 5 billion in revenue by 2031 by growing at a CAGR of nearly 5% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to the rising in the geriatric population and the increasing prevalence of inflammatory bowel diseases such as ulcerative colitis or Crohn's disease of the colon. Additionally, the rise in the number of cases of several cancers, such as intestinal cancer, colorectal, bladder, and urinary tract cancer is increasing the demand for ostomy care. Furthermore, increasing healthcare expenditure, and technological advancements in ostomy care products are also predicted to boost the global ostomy market growth during the forecast period. According to the United Nations, the number of elderly people aged 65 years or above was 703 million in 2019 and is estimated to reach 1.5 billion by 2050.

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The COVID-19 pandemic had a negative impact on the ostomy market as there has been a continuous reduction in the rate of diagnosis and treatment of patients with colorectal cancer (CRC) in hospitals. This extensive delay in the CRC therapy during the pandemic showed adverse impacts on the growth of the industry.

However, complications related to ostomy care products,
lack of awareness regarding ostomy care among patients, and the emotional and psychological impact on patients taking the treatment are the key factors restraining the growth of the market.

The market is segmented by product into bags and accessories, out of which, the bags segment is anticipated to hold the largest share of the market owing to the high demand for ostomy bags on the back of rising in obesity and diabetes among the population, both in young and adult. The bags segment is further segmented into colostomy bags, ileostomy bags, urostomy bags, and others, out of which, the colostomy bags segment is estimated to witness the highest growth over the forecast period. The growth of the segment is attributed to the rising incidence of colon cancer, stomach cancer, and inflammatory bowel disease (IBD) in developed and developing countries, in which colostomy bags are most commonly used.

Global Ostomy Market Regional Synopsis

Regionally, the global ostomy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Europe region is estimated to witness significant growth over the forecast period on the back of the growing incidence of chronic bowel diseases. For instance, in the United Kingdom, there were a number of over 500,000 people with inflammatory bowel diseases in 2020. Furthermore, the high adoption of technologically advanced products in the region, increasing healthcare expenditure, and growing R&D activities to develop products that improve patient comfort by companies in the European market are also driving the growth of the market in the region.

On the other hand, the North America region is expected to hold the second-largest market for ostomy care due to growing geriatric population, increasing investments in research operations, and rising pool of patients with intestinal disorders in the region.

Moreover, the Asia Pacific region is considered an emerging market for ostomy care, owing to increasing bowel disorders among the population, especially in developing countries, such as India.

Market Segmentation

Our in-depth analysis of the global ostomy market includes the following segments:

By Product

• Bags
• Accessories

• Colostomy Bags

• Ileostomy Bags

• Urostomy Bags

• Others

• Accessories

• Deodorants

• Cleansers

• Powders

• Others

By End-User

• Hospitals

• Specialty Clinics

• Ambulatory Surgical Centers

• Home Care Settings

Growth Drivers and Challenges Impacting the Growth of the Global Ostomy Market

Growth Drivers

• Rise in the geriatric population and increasing prevalence of inflammatory bowel diseases

• Rise in the number of cases of several bowel-related cancers

• Increasing healthcare expenditure and technological advancements in ostomy care

Challenges

• Complications related to ostomy care products

• Lack of awareness regarding ostomy care among patients

• Emotional and psychological impact on patients taking the treatment

Key Companies Dominating the Global Ostomy Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global ostomy market that are included in our report are Coloplast Corp., Hollister Incorporated, B. Braun Melsungen AG, ConvaTec Inc., Salts Healthcare, Welland Medical Limited, Alcare Co., Ltd., Cymed Micro Skin, Marlen Manufacturing & Development Company, Torbot Group, Inc., and others.

Latest Developments in the Global Ostomy Market:

• March 2021: ConvaTec, Inc., a global medical solutions company, announced extension of their Ostomy Care agreement with Vizient Inc. for another three years to provide a wide range of medical and care facilities to support ostomy patients with quality ostomy products and accessories.

• June 2021: Welland Medical Limited announced the launch of a new ostomy pouch range, Aurum Plus, in closed, drainable, and urostomy types in various sizes to provide ostomates with comfort and confidence.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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