Stoma Ostomy Care Market Set to Bloom at 4.9% CAGR, Reaching US$6.5 Billion by 2033 | FMI Analysis

Stoma Ostomy Care Market

The Stoma Ostomy Care Market is flourishing, driven by an aging population and the growing need for specialized healthcare solutions. According to a recent market analysis, the market reached a value of US$3.8 billion by the end of 2022. This positive trend is expected to continue, with the market projected to maintain a steady growth trajectory at a Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2033. By leveraging this momentum, the industry is anticipated to reach a staggering valuation of US$6.5 billion by 2033.

Several significant factors contribute to the remarkable growth trajectory of the stoma care market. The increased prevalence of disorders that require ostomy care, combined with continual developments in surgical techniques and ostomy supplies, has played a critical part in accelerating this considerable expansion. Furthermore, increased awareness and advantageous reimbursement policies have provided a conducive atmosphere for the market’s continued expansion.

Among the most prevalent conditions requiring ostomy care are colorectal cancer, bladder cancer, and inflammatory bowel disease (IBD). These medical conditions often demand surgical intervention, such as surgical excision of aggressive melanoma of the intestine. In certain instances, patients require ostomy procedures, which involve the creation of a surgical incision through the abdomen to establish a new waste minimization conduit.

As we move forward, the stoma care market is poised to provide vital support and innovative solutions for individuals facing these medical challenges, contributing to improved healthcare outcomes and quality of life.

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The adoption of stoma ostomy care procedures has increased worldwide due to the rising occurrence of these diseases and increased exposure to risk factors such as changing eating habits and increased antibiotic use in children.

However, despite recent advancements, the stoma ostomy market faces several constraints that limit its growth potential. These include stoma care issues, discomfort and other concerns associated with ostomy products, societal stigma, and increased acceptance of alternative therapies, particularly in developing countries.

While stoma surgeries are generally safe, there are some risks involved, including life-threatening issues such as necrosis and exhaustion. As a result, the acceptance of stoma care appliances may be limited to some extent.

Stoma Ostomy Care Market Key Takeaways:

• The USA market will hold a market share of around 28.7% in the 2023 global market.
• Germany is set to hold around 5.3% of the global market share in stoma ostomy care in 2023.
• The Indian market is projected to expand at a CAGR of 3.8% during the forecast period.
• Due to a growing number of patients suffering from target diseases such as colorectal cancer, Ostomy Bags is predicted to occupy a considerable revenue share of 84.3% in the global market by 2023.
• Due to the rising frequency of IBD, bowel cancer, and colon cancer in both developed and developing nations, as well as the favorable reimbursement environment in developed countries, the colostomy sector is predicted to hold a high market share of 88.8% in the global market in 2023.

“Improvement in product design will remain a key differentiator as end users have to face stigma with the drainage bags,” reports an FMI analyst.

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Stoma Ostomy Care Market Competitive Landscape

The European market for stoma ostomy care is the largest. However, according to recent trends, key players are focusing on the Asia Pacific market due to low labor costs and a large pool of patients.

• Coloplast Singapore released SenSura Mio in February 2022, which uses the latest elastic adhesive technology and is appropriate for all peristomal body profiles. SenSura® Mio is being offered in Singapore for the first time in Southeast Asia to improve the quality of life for ostomytes, or those who have had an ostomy and now have a stoma.
• Trio Healthcare received financing from SWK Holdings Corporation, a specialized finance company based in the United States, in February 2020, to accomplish significant local and global expansion ahead of an anticipated product launch in 2021.

Key Players in the Stoma Ostomy Care Market

BAE Systems Plc, ConvaTec Inc., Hollister Inc., EuroMed, Inc, 3M Company, Smith & Nephew plc, FNC Medical, Nu–Hope Laboratories, Inc., Marlen Manufacturing & Development Co., Torbot Group, Inc, Cymed Micro Skin, Alcare Co., Ltd., B. Braun Melsungen AG., Salts Healthcare Ltd, Securi–T USA., Welland Medical Limited, Flexicare Group Limited.

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North America is expected to dominate the stoma care market, owing to the high incidence of colorectal cancer and inflammatory bowel disease in the region, as well as the high adoption rate of advanced stoma care products. The United States is the largest market in North America, followed by Canada.

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Stoma Ostomy Care Market Key Segments

By Surgery Type:

• Colostomy
• Ileostomy
• Urostomy

By Product:

• Ostomy Bags
• Ostomy Accessories
  • Belts & Tapes
  • Skin Protection &Skin Barrier
  • Irrigation Sets
  • Convex Inserts
  • Stoma Caps

By Application:

• Cancer
• Inflammatory Bowel Disease
• Bowel Obstruction
• Fecal Incontinence
• Trauma and Infection

By End–Users:

• Hospitals and Specialty Clinics
• Home Care Settings
• Ambulatory Surgical Centers

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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