Skin Barrier Market to Reach $1.19 Billion by 2026: Allied Market Research
Rise in number of consumers suffering from irritable bowel syndrome and increase in geriatric population across the globe drive the growth of the global skin barrier market. North America contributed the highest share in 2018, and will maintain its dominance throughout the forecast period. The supply chain of various products has been hampered, as there is the global lockdown due to Covid-19 pandemic.
Portland, OR, May 13, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global skin barrier market generated $868.1 million in 2018, and is estimated to reach $1.19 billion by 2026, registering a CAGR of 4.1% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Rise in number of geriatric population across the globe and rise in health issues such as irritable bowel syndrome drive the global skin barrier market. However, shortage of trained professionals hampers the market growth. On the other hand, potential in the healthcare sector in emerging regions creates new opportunities in the coming years.
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Covid-19 scenario:
- The operations have been continued according to the guidance provided by the World Health Organization and the US and European Centers to skin barrier manufacturing companies.
- However, the supply chain of various products has been hampered due to the global lockdown.
The report offers a detailed segmentation of the global skin barrier market based on shape, surgery type, and region.
Based on shape, the flat shaped segment the largest share in 2018, accounting for more than half of the total share, and is expected to maintain its dominant position during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 4.2% from 2019 to 2026. The report also analyzes the convex shaped segment.
Based on surgery type, the colostomy segment contributed to the highest market share with more than two-fifths of the total share in 2018, and is estimated to maintain its leadership position. In addition, the segment is anticipated to portray the highest CAGR of 4.4% throughout the forecast period. The research also discusses the segments such as ileostomy and urostomy.
Based on region, North America accounted for the highest share based on revenue, holding for more than one-third of the total share in 2018, and is projected to maintain its dominant position throughout the forecast period. However, Asia-Pacific is estimated to portray the fastest CAGR of 4.6% from 2019 to 2026
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Leading market players analyzed in the research include 3M Company, Coloplast Corp., Cymed Ostomy Pouching Systems, Marlen Manufacturing & Development Co., Safe N’ Simple Medical, Braun Melsungen AG, Convatech, Hollister Inc. Nu-Hope Laboratories Inc., and Torbot Group, Inc.
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