The global ostomy care market is expected to reach USD 3.41 billion by 2021 from USD 2.62 billion in 2016 at a CAGR of 5.4% from 2016 to 2021. The growth of this market segment is mainly due to the rise in patients suffering from colon cancer and aging population.
Based on the type of bags, two-piece bags are expected to witness the highest growth rate due to their increased flexibility and effective fitting options. Based on usability, the reusable/drainable bags segment is expected to witness the highest growth in the ostomy care bags market. This growth is attributed to cost benefits associated with reusable/drainable ostomy bags.
Geographically, the ostomy care market is dominated by Europe, followed by North America, Asia, and the Rest of the World (RoW). Growth in the European segment is primarily driven by the rise in incidences of colorectal cancer, bladder cancer, and IBD (inflammatory bladder disease) and well-developed reimbursement systems in European countries.
The major factors driving the growth of this market are growing aging population, rise in the number of ostomy surgeries due to the rising incidence of bowel/bladder cancer and Crohn's disease, rise in awareness towards ostomy care products and technological advancements. On the other hand, unstable reimbursement systems are expected to restrain the market growth during the forecast period.
- Alcare Co. Ltd
- B. Braun Melsungen AG
- Coloplast A/S
- Convatec Healthcare
- Hollister Incorporated
- Marlen Manufacturing and Development Co
- Nu-Hope Laboratories Inc
- Smith & Nephew PLC
- 3M Company
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Ostomy Care Market, By Product
6 Global Ostomy Care Market, By End Users
7 Ostomy Care Market, By Region
8 Competitive Landscape
9 Company Profiles
For more information visit http://www.researchandmarkets.com/research/vwwrw7/stoma_careostomy
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/stoma-careostomy-care-and-accessories-market---rise-in-number-of-ostomy-surgeries-due-to-rising-incidence-of-bowel-cancer--crohns-disease---research-and-markets-300299862.html
SOURCE Research and Markets