CHICAGO, May 19, 2020 /PRNewswire/ -- 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.
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"
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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 Marketin 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.
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.
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