Global Ostomy/Stoma Care and Accessories Market is expected to grow at a CAGR of 4.53% during the forecast period 2020-2027

A new research report published by Fior Markets with the title Ostomy/Stoma Care and Accessories Market by Product (Ostomy Care bags {Surgery Type and Pouches} and Ostomy Care Accessory), by Application (Cleansing, Sealing, Lubrication and Damage), by End-user (Home care, Ambulatory Surgical Centres and Hospitals), Region, Global Forecast 2020-2027.

The global ostomy/stoma care and accessories market is expected to grow from USD 2.50 billion in 2019 to USD 3.72 billion by 2027, at a CAGR of 4.53% during the forecast period 2020-2027. Asia-Pacific is expected to grow with the highest CAGR due to the developing healthcare and increasing awareness among people. Also, rise in number of the diseases which require the use of ostomy care accessories have been the driving factor for the market.

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Key players ostomy/stoma care and accessories market are Salts Healthcare Ltd., Welland Medical Limited, Coloplast Corp., B. Braun Melsungen AG., Hollister Incorporated, Convatec, Inc. and others. In 2017, a well-known ostomy care and accessory company ConvaTec Inc. has launched Natura Convex Cut-to-Fit Accordion Flange pouch for easing up the process of application.

The product segment includes ostomy care bags and ostomy care accessories. Further the ostomy care bags include surgery type and pouches. The surgery type includes ileostomy, colostomy, urostomy and others. The ostomy care accessories include paste and powder, creams, cleanser, tapes and other accessories. The ostomy bags accounts for largest share in the segment. The reason for the same is rise in number of diseases requiring ostomies. They are widely used in surgeries. The application segment includes cleansing, sealing, lubrication and damage. Out of all, cleansing constitutes for the largest market share as because ostomy surgery are widely used for cleansing of intestines. The End-user segment includes home care, ambulatory surgical centres and hospitals. Hospitals are the largest user of ostomy surgeries.

Ostomy surgeries are often referred to as bowel diversion. Ostomy surgeries are essential as they are performed to divert the normal segments of the intestinal contents of the human body. They remove toxin materials out from the intestine. The surgery can either be permanent or temporary. The different factors for market demand are the technological advancements in ostomy care accessories and increase in genetic problems. Many countries have seen increase in many diseases over the period of time. The rise in number of IBD cases has paved a way for market penetration of these products. Some accessories which are used as ostomy care are tapes, adhesives, belt, skin barrier, skin protection, convex inserts, etc. The main objective of ostomy accessories is to prevent any type of leakage and prevent odor from the pouches. The lack of proper policies by the government for ostomy surgeries and the unavailability of medical insurance are going to restrict the growth of the ostomy care accessories market. Additionally, the availability of substitutes at a cheaper rate is going to be the hurdles for the market growth.

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About the report:
The global ostomy/stoma care and accessories market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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