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Ostomy Care Market Worth $3.5 Billion by 2025: Worldwide Emerging Trends, Key Players and Growth Opportunities

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Ostomy Care Market Worth $3.5 Billion by 2025: Worldwide Emerging Trends, Key Players and Growth Opportunities

September 30
21:44 2021
Ostomy Care Market Worth $3.5 Billion by 2025: Worldwide Emerging Trends, Key Players and Growth Opportunities
Coloplast A/S (Denmark), Hollister Incorporated (US), ConvaTec Group plc (UK), B. Braun (Germany), ALCARE Co., Ltd. (Japan), Nu-Hope (US), Marlen Manufacturing & Development Company (US), Welland Medical Limited (UK), Baohe Ostomy Care (China), Flexicare Medical Limited (UK), Cymed (US), Schena Ostomy Technologies, Inc. (US), Perma-Type Company Inc. (US), 3M (US), Smith & Nephew (US), and Salts Healthcare (UK), among others, are the key players in the ostomy care market.
Ostomy Care Market Research Report Gives in Detailed Analysis of Industry Segments, Opportunities, Growth and Size That Will Help Your Business Grow.

According to the new market research report “Stoma/Ostomy Care Market by Product (Bags (Surgery Type (Ileostomy, Colostomy, Urostomy), System (One, Two-Piece), Usability (Drainable, Closed), Shape (Flat, Convex)), Accessories (Powder, Deodorant)), End User and Region – Global Forecast to 2025”, published by MarketsandMarkets™, the Stoma/Ostomy Care Market is projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, growing at a CAGR of 4.4% during the forecast period.

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The increasing target patient population, a growing number of awareness programs to educate patients regarding the use of ostomy products, and the favorable reimbursement system in developed countries are the major factors driving the growth of this Stoma Care Market.

Based on product, the ostomy care bags segment is estimated to be the largest segment of the market, in 2019

Based on product type, the Stoma Care Market is segmented into ostomy care bags and ostomy care accessories. In 2019, the ostomy care bags segment accounted for the largest share of the ostomy care industry. The increasing number of patients suffering from IBD, colorectal cancer, and bladder cancer— among other diseases requiring ostomies—is expected to drive this market.

Browse in-depth TOC on “Ostomy Care Market

219 – Tables
27 – Figures
193 – Pages

Based on surgery type, the ileostomy segment expected to register the fastest growth rate in the forecast period

Based on surgery type, the ostomy care market is segmented into ileostomy, colostomy, and urostomy. The ileostomy segment is expected to grow at the highest CAGR during the forecast period due to the growing aging population and rising patient awareness regarding health.

Europe to account for the largest share of the global Stoma Care Market in 2019

Geographically, the market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe had the largest share of the market in 2019 since European countries have a higher prevalence of IBD, which is a result of a higher number of ostomy surgeries.

European countries, especially Germany, France, and the UK, have favorable reimbursements for ostomy care products. In Germany, 100% reimbursement is available to ostomates, thus eliminating out-of-pocket expenses. This factor is expected to boost the growth of this region further.

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The major players operating in the global ostomy care market are Coloplast A/S (Denmark), Hollister Incorporated (US), ConvaTec Group plc (UK), B. Braun (Germany), ALCARE Co., Ltd. (Japan), Nu-Hope (US), Marlen Manufacturing & Development Company (US), Welland Medical Limited (UK), Baohe Ostomy Care (China), Flexicare Medical Limited (UK), Cymed (US), Schena Ostomy Technologies, Inc. (US), Perma-Type Company Inc. (US), 3M (US), Smith & Nephew (US), and Salts Healthcare (UK), among others.

An analysis of the market developments between 2017 and 2020 revealed that several growth strategies such as product launches and enhancements, partnerships, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the ostomy care market. Among these business strategies, product approval and launches, acquisition, partnerships, and agreements were the most widely adopted growth strategies by market players.

Coloplast was the largest player in the ostomy care market in 2019. The company’s leading position in this market can be attributed to its strong pipeline of new products, sustained cost discipline, and adoption of new strategies to enhance its product portfolio based on new technologies available in the market. The Ostomy Care business of the company has witnessed organic sales growth of 7% in 2018-19, which was almost double the overall market growth rate. This growth was mainly supported by the launch of its SenSura Mio product line in various important markets. The company is also focusing on expanding its market presence through M&A activities. For instance, in 2018, the company acquired IncoCare Gunhild Vieler GmbH (Germany).

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