Ostomy Care And Accessories Market Growth & Trends
The global ostomy care and accessories market size is anticipated to reach USD 5.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.3%. Increasing prevalence of colorectal and bladder cancer, technological advancements, increasing demand for sterile products in various healthcare, and homecare settings coupled with the rise in geriatric population are key contributors to the market growth.
Advancements in product technology such as improved adhesive systems and innovative pouch designs by various key manufacturers through different strategic initiatives will further drive the market growth. For instance, in March 2021, Colplast has been awarded a contract for ostomy products with Vizient, Inc. Through this agreement Vizient members will get easy access with contracted pricing to Coloplast’s full product portfolio of ostomy products, including bags and accessories like barrier rings, stoma caps, pouch covers, and other accessories. Furthermore, this agreement will strengthen the company presence across healthcare organizations, and hospitals. Additionally, this further enable them to provide their services and products to large number of users in the U.S. Due to such activities the demand for ostomy care and accessories will increase in near future.
Some of the companies operating in the U.S. ostomy care & accessories market are Coloplast, Hollister Incorporated, Convatec Group, among others. These companies offer a wide range of products, consumables, and compete based on factors such as product quality, pricing, innovation, & distribution networks.
Request a free sample copy or view report summary:
Ostomy Care And Accessories Market Report
Report Attribute Details Market size value in 2023 — USD 3.69 billion Revenue forecast in 2030 — USD 5.4 billion Growth rate — CAGR of 5.3% from 2023 to 2030 Base year for estimation — 2022 Historical data — 2018–2021 Forecast period — 2023–2030
Ostomy Care And Accessories Market Report Highlights
Based on product, ostomy bags segment dominated the market in 2022 with a share of 84.7% owing to increasing cases of urological ailments, such as chronic kidney disease, Inflammatory Bowel Disease, and bladder control problems. Ostomy bags segment is further sub segmented into one piece and two-piece bags.
On the basis of application, colostomy segment dominated the market in 2022 with a share of 45.4% due to rising geriatric population and high prevalence of colorectal cancer.
The home care settings segment held 45.9% of the overall end user market in 2022 owing to increase in demand of ostomy care products for home care and patient-centric healthcare services.
Europe dominated the overall regional market with the highest revenue share of 47.2% in 2022 owing to high incidence rate of Crohn’s disease & ulcerative colitis in this region. According to the Journal of Crohn’s and Colitis, 0.3% of the total population in Europe suffers from IBD.
Comments