Stoma Care Market Revenue To Be USD 3,882.1 Million by 2030, Says P&S Intelligence
NEW YORK, Feb. 28, 2023 /PRNewswire/ -- In 2022, the stoma care market had a total size of USD 2,732.1 million, and it is projected to hit USD 3,882.1 million by 2030, progressing at a rate of 4.5% from 2022 to 2030, according to P&S Intelligence.
This growth can be ascribed to the rising aging populace, the mounting population of people suffering from inflammatory bowel illnesses and bladder and colorectal cancers, the improving technology, the growing number of ostomies of the intestine, and the favorable reimbursement systems for these surgeries in developed countries.
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Increasing Occurrence of Inflammatory Bowel Conditions Boosts Market
The increasing frequency of several inflammatory bowel conditions, including ulcerative colitis, Crohn's disease, fecal incontinence, and diverticular disease, as well as colorectal and intestinal cancer, apart from the rising healthcare investment and the arrival of novel items for stoma care, are contributing to the market growth.
Europe Creates Highest Demand for Stoma Care Products
Europe had the largest revenue share, of approximately 40%, in 2022, and it is projected to continue with the dominance in the future.
This can be credited to the strong healthcare infrastructure, the rising frequency of inflammatory bowel illnesses, the existence of key players, the provision of reimbursement for ostomies by private insurance firms, and the increasing government investment in the region.
Ostomy Bag Demand Is Projected To Grow at Considerable Pace
In the coming few years, the ostomy bags category is projected to experience a CAGR of approximately 6%. This is because of the growth in the number of temporary and permanent ostomies among individuals suffering from small and large intestine cancers and inflammatory bowel disease and the technological improvements in the bags needed after stoma operations.
Colostomy Is Widest-Performed Kind of Ostomy Globally
Colostomy surgery is leading the industry, on the basis of surgery type. This can be ascribed to the increasing occurrence of colon cancer and the growing number of colostomies.
As per the United Ostomy Associations of America, around 100,000 ostomy operations are conducted in the U.S. annually.
Browse detailed report on Stoma Care Market Share, Growth, Development and Demand Forecast to 2030
The hospitals and specialty clinics category led the industry, mainly due to a huge number of patients suffering from discomfort or inflammatory illnesses choosing these medical settings and the improvement of the healthcare infrastructure by private players and governments.
Furthermore, the increasing number of specialty clinics and hospitals and the rising acceptance of advanced technologies at these places are boosting the market growth.
Product Demand To Skyrocket in APAC
The highest CAGR in the market in the coming years will be seen in the APAC region. China and India are home to a huge patient pool suffering from GI diseases, and they are witnessing an improvement in their healthcare ecosystem.
Stoma Care Market Segmentation Analysis
Stoma Care Market by End User
- Hospitals and Specialty Clinics
- Ambulatory Surgery Centers
- Homecare Settings
Stoma Care Market by Surgery Type
- Colostomy
- Ileostomy
- Urostomy
Stoma Care Market by Product
- Bags
- Accessories
Stoma Care Market Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
- U.A.E.
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