Against the Backdrop of the COVID-19 Crisis, Global Stoma/Ostomy Care Products Market to Reach a Revised Market Size of US$3.1 Billion by 2025, Supported by a 4.9% CAGR Over the 2019-2025 Analysis Period
The global market for Stoma/Ostomy Care Products is projected to reach US$3.1 billion by 2025, driven by the rapidly aging population, increase in the number of operative procedures involving creation of intestinal stoma and the resulting focus shed on "stoma quality of life".
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Stoma/Ostomy Care Products market. The segments covered in the study include End-Use (Home Care, Hospitals & Ambulatory Surgical Centers); Product (Ostomy Care Bags, Ostomy Care Accessories) ).
7 June 5:21 A.M., California/Marketwire/ - According to the new market research report, the global market for Stoma/Ostomy Care Products is projected to reach US$3.1 billion by 2025, driven by the rapidly aging population, increase in the number of operative procedures involving creation of intestinal stoma and the resulting focus shed on "stoma quality of life". World`s population is rapidly aging, supported by the increase in longevity as modern medicine becomes increasingly effective in preventing chronic disease, and reducing mortality. Also, easy access to age-friendly primary healthcare and growing sophistication of healthcare infrastructure play key roles in longevity. For the first time in human the percentage of older people in the total population is continuing to increase. In addition to the aforementioned increase in life expectancy, falling fertility rates are accelerating the trend. The aging population creates massive challenges for the healthcare system since it means larger chronic disease burden. Among the many diseases of the elderly such as dementia; arthritis; blindness; chronic bronchitis; motor neurone diseases; osteoporosis; Parkinson`s disease; stroke; CKD; and Alzheimer`s, incontinence and bowel obstruction caused by colorectal cancer and other diseases that require surgical removal parts of the rectum, anus and colon requires the highest nurse care and self-care management needs.
Colorectal cancer is the leading cause for creation of stomas/ostomy accounting for 45.6% of the prevalence rate. Colostomy is the most popular type of procedure performed on 45.2% of ostomy patients in the 60+ age group, while Ileostomy is the second most common procedure performed on people aged over 60 with over 38.7% of ostomy patients in the 60+ age group having Ileostomy. Urostomy is performed on 16.1% of ostomy patients in the 60+ age group. Over the years, rising awareness and improving standards of ostomy care have helped drive the market for stoma/ostomy care products. Patient centric innovations in developing ostomy products that reduce burden of leakage, and skin irritations, allergies and complications are important in ensuring quality of life for patients and therefore ranks as important to the market`s future growth. Noteworthy innovations in the market include stoma pouches manufactured from hydrocolloids and polymers for better stretchability; Bluetooth measuring system for ostomy bags that alerts the patients when full and requires change; pouches that fit individual body contour and adapt to body movements; and stoma seals that prevent and protect against leaks.
Key Competitors Covered in the Report
Alcare Co. Ltd.
B. Braun Melsungen AG
BAO-Health Medical Instrument Co. Ltd.
Flexicare Medical Ltd.
Marlen Manufacturing & Development Company
Nu-Hope Laboratories Inc.
Perma-Type Co. Inc.
Schena Ostomy Technologies Inc.
Smith & Nephew PLC
Welland Medical Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 3563. Among this pool, 641 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 107 unique participations, a total of 48 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.