The global ostomy care market is valued at USD $xx billion in 2017 and is anticipated to reach around USD $xx billion by 2023. It is projected to grow at a CAGR xx% from 2017 to 2023. This market is categorized by product and end use.
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Some of the urinary tract and bowel related diseases requires removal of a part or entire bladder or intestine. This generates the need for an alternative way for removal of urine and feces from the body. An ostomy is a surgical procedure in which an opening is created in the body for discharging these body wastes. The opening is called as stoma and is pulled through the abdominal wall. The common types of ostomies are ileostomy, colostomy, and urostomy. These ostomies are performed based on what and how much part of bladder and intestines is to be removed. The ostomy care products include ostomy bags and accessories such as convex inserts, ostomy belts, pouch covers, skin barrier liquid/wipes/powder, skin barrier paste, tapes, and adhesive removers among others. The colostomy and ileostomy pouches may be single or two piece systems. These systems can be either closed or drainable.
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Escalating incidence of bladder, colorectal, and inflammatory bowel diseases is the key factor influencing growth of the market. As stated by Center for Disease Control and Prevention, in 2015 around 3 million people were diagnosed with inflammatory bowel disease. Majority of these beloged to the age group of 45 years and older. The surge in incidence and prevalence of colon and rectum cancer is also contributing to the growth of the market. According to National Institute of Health (NIH), in the U.S., an estimated 135,430 new cases were registered in 2017 and accounted for around 8% of all cancer cases. Increasing geriatric population, techonological advancements, growing government initiatives for awareness, and favourable reimbursement scenario in developed countries are expected to flourish market growth. However, discomfort and associated infections due to use of ostomy products is likely to hinder market growth.
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This report examines the market size and changing competitive dynamics
It covers information regarding key drivers, challenges or restraining market growth
It provides a five-year forecast assessed on the basis market value chain, Porter's five forces, and supply chain management
Market factor analysis delivers treasured information regarding the possible purchasers and suppliers and understanding the stakeholders involved
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TARGET AUDIENCE:
Government and research organizations
Raw material suppliers and distributors
Ostomy care bag manufacturers, distributors, and dealers
Research and consulting firms
Medical research laboratories & academic institutions
Potential investors
Hospitals
Ostomy care product suppliers
Geography, North America, U.S, Canada, Europe, Germany, France, U.K, Italy, Spain, Russia, Poland, Rest of Europe, Asia-Pacific, Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, Rest of Asia - pacific, Latin America, Brazil, Mexico, Argentina, Venezuela, Rest of Latin America, Middle East and Africa (MEA), Gulf Cooperation, Council (GCC) Countries, Israel, South Africa, Rest of MEA
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