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Global Incontinence and Ostomy Market Is Expected to Reach USD 24.72 billion by 2028 : Fior Markets

Incontinence and ostomy Market by Application (Women's health related, Neurological conditions, Oncology, Urinogenital diseases, GI Tract diseases and Others), Utility (Security & leakage control, Protection & cleansing, Odor control and Irrigation products), End-User (Hospitals, Home care, and Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

/EIN News/ -- Newark, NJ, June 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global incontinence and ostomy market is expected to grow from USD 15.51 billion in 2020 and to reach USD 24.72 billion by 2028, growing at a CAGR of 5.1% during the forecast period 2021-2028.

Important factors driving the demand over the projected timeframe include a rise in the number of patients suffering from urological diseases and faulty bladders, rising ostomy surgeries of the intestine, and an aging population. The rising number of patients with related disorders is expected to increase demand for incontinence and ostomy treatment goods, resulting in market growth over the projected period. Moreover, the Asia Pacific's aging population, especially in countries with large untapped markets like Japan, India, and China, is expected to drive the demand for incontinence and ostomy care products during the forecast era. In addition, the demand for incontinence and ostomy care products is being driven by rapid technical developments in the field of incontinence and ostomy care products.

Incontinence is the inability to control the evacuation of bodily wastes (urine and feces). The advent of a large client base with unmet medical incontinence needs would continue to drive demand growth. Obesity's the incidence rates, as well as aging, have been identified as two major contributors to incontinence's high prevalence. Inflammatory bowel disease and ulcerative colitis are two diseases with high prevalence rates that are expected to drive market demand in the coming years. The Incontinence and Ostomy Treatment Product demand is growing as a result of progressive healthcare reforms implemented in key emerging countries such as China, India, and Brazil, as well as rising health-care spending.

An increase in the number of patients with urological diseases and defective bladders, rising ostomy operations of the intestine, and an aging population are all important factors driving demand over the forecasted timeframe. Several business leaders are ramping up marketing efforts to increase global awareness of these prosthetic medical devices, effectively dispelling the stigma and taboo around their use. The household consumption of incontinence medications has risen as a result of the COVID-19 crisis. Since the majority of buyers are retirees, there is a larger demand for these products. Cross-border travel restrictions have opened the door for local players to enter the market and meet unmet end-user demands.

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Key players operating in global incontinence and ostomy market include Svenska Cellulosa Aktiebolaget (Sweden), B. Braun Melsungen AG (Germany), ConvaTec, Inc. (U.S.), Coloplast AG (Denmark), Hollister Inc. (U.S.), Kimberly-Clark Corporation (U.S.), Salts Healthcare Ltd. (U.K.), Medtronic, Inc. (U.S.), Torbot Group, Inc. (U.S.),  and Unicharm Corporation (Japan). To maintain their success in this market, these businesses have used new product creation and releases, alliances, alliances, partnerships, and regional extensions as core business strategies in recent years. B. Braun Melsungen AG and Essity are some of the key manufacturers operating in incontinence and ostomy market.

  • During the COVID-19 crisis in June 2020, B. Braun Melsungen AG launched virtual health systems (Emerald Nursing Service) to assist frail patients at home with acute bladder issues. This program provides facetime video tutorials and guidance on how to use incontinence and ostomy treatment goods to patients at home.

Security & Leakage Control segment dominated the market and held the largest market share of 40.9% in the year 2020

On the basis of utility, the global incontinence and ostomy market is segmented into security & leakage control, protection & cleansing, odor control and irrigation products. Security & Leakage Control dominated the market and held the largest market share of 40.9% in the year 2020. This growth is attributed to increased usage of security and leakage control devices for incontinence and stoma treatment, as well as increased technical innovation of these devices to improve efficiency.

Women's health-related segment dominated the market and held the largest market share of 27.56% in the year 2020

On the basis of application, the global incontinence and ostomy market is segmented into women's health related, neurological conditions, oncology, urinogenital diseases, GI Tract diseases and others. Women's health-related segment dominated the market and held the largest market share of 27.56% in the year 2020. This growth is because of the rising prevalence of prostate, colorectal, and bladder cancers, the oncology division is the fastest developing.

Homecare segment dominated the market and held the largest market share of 39.15% in the year 2020

On the basis of end-user, the global Incontinence and ostomy market is segmented into hospitals, home care, and others. Because of the availability of improved and more technologically sophisticated customized incontinence and stoma treatment devices, homecare accounted for the most revenue and held 39.15% of the market in 2020. Owing to the the availability of innovative minimally invasive procedures, hospitals are the fastest growing market.

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Regional Segment of Incontinence and ostomy Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global  Incontinence and ostomy market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2020, Europe led the incontinence and ostomy treatment goods industry, accounting for about 43.2 % of total sales. During the projected period, factors such as a rise in the number of stoma patients due to Crohn's disease, ulcerative colitis, or IBD are expected to boost the demand in Europe. Because of the vast number of people in Asia Pacific who suffer from urinary and bladder issues as a result of unhealthy lifestyles, the demand for incontinence and ostomy treatment items is expected to develop significantly in the future. To raise awareness, many nursing centers in this area host a variety of activities such as motivational programs and educational seminars.

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About the report:

The global  Incontinence and ostomy market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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