LONDON, Aug. 2, 2016 /PRNewswire/ -- 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. Based on type of procedure, the colostomy bags segment is expected to account for the largest share of the ostomy care bags market. 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. Based on type of ostomy accessories, the paste and powder segment is expected to witness the highest growth in the market.
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.
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years.
In addition, company profiles comprise product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of future trends will help key market players and new entrants make the necessary decisions regarding product offerings, geographic focus, changes in strategic approach, and levels of output in order to remain successful in the market.
The key players in the ostomy care market are Coloplast (Denmark), Convatec (U.S.), Hollister (U.S.), B. Braun (Germany), Alcare (Japan), Marlen Manufacturing (U.S.), 3M (U.S.), Smith & Nephew (U.K.), and Nu-Hope Laboratories (U.S.).
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the ostomy care market. The report analyses the ostomy care market by type of ostomy bag and accessory, by end user, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the ostomy care market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the ostomy care market
- Market Development: Comprehensive information about emerging markets. This report analyses the market for various ostomy care market products across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the ostomy care market
Download the full report: https://www.reportbuyer.com/product/3984714/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/stoma-careostomy-care-and-accessories-market-by-procedure-bags-accessories--end-users---global-forecast-to-2021-300308041.html