Global ostomy care and accessories industry was estimated at $3.0 billion in 2020, and is anticipated to hit $4.8 billion by 2030, registering a CAGR of 4.5%

PORTLAND, OREGON, UNITED STATES, October 7, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Ostomy care and accessories Market," The ostomy care and accessories market size was valued at $3.0 billion in 2020, and is estimated to reach $4.8 billion by 2030, growing at a CAGR of 4.5% from 2021 to 2030.

Increase in number of elderly individuals who are highly susceptible to gastrointestinal diseases and surge in the prevalence of inflammatory bowel diseases (IBDs), such as Crohn's disease & ulcerative colitis drive the growth of the global ostomy care and accessories market. On the other hand, unfavorable reimbursement scenario, growing incidence of post-surgery infections, and stoma care complications impede the growth to some extent. However, rise in initiatives by governments & non-governmental organizations to promote awareness about ostomy care is expected to pave the way for lucrative opportunities in the industry.

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Covid-19 scenario-

The majority of hospitals and clinics across the world were restructured to heighten the hospital capacity for individuals diagnosed with Covid-19 and there was a steep decline in demand for ostomy care accessories.
Non-essential surgical procedures took a potential backlog owing to the rising Covid-19 cases, which worsened the scenario even more.
However, as the global situation is getting back on track at a slow & steady pace, the market for ostomy care and accessories has also started recovering.
Scope of the Report: -

Report Attribute

Revenue forecast in 2030 - $ 4.8 billion

Growth rate - CAGR of 4.5% from 2021 to 2030

Forecast period - 2021 - 2030

Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Regional scope - North America, Europe, Asia Pacific, Latin America, MEA

Country scope - U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia

Key companies profiled

3M Company, Alcare Co., Ltd., B. Braun Melsungen AG, Clinimed Group (Welland Medical Limited), Coloplast A/S, Cymed Micro Skin, Hollister Incorporated, ConvaTec, Inc., Nu-Hope Laboratories, Inc., Schweitzer-Mauduit International, Inc. (Scapa Healthcare), Smith and Nephew Plc., and Torbot Group Inc. Access Table PDF

The ostomy bags segment to dominate by 2030-

By product, the ostomy bags segment contributed to more than half of the global ostomy care and accessories market share in 2020, and is expected to lead the trail by 2030, due to increasing number of stoma surgeries. The ostomy accessories segment, on the other hand, is expected to exhibit the fastest CAGR of 5.5% from 2021 to 2030, owing to high-end developments in technology and launch of new products.

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The colostomy segment to maintain the lion's share-

Based on application, the colostomy segment generated around half of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. This is due to rise in number of colostomy surgeries across the world. The ileostomy segment, on the other hand, would manifest the fastest CAGR of 5.2% from 2020 to 2030. This is attributed to surge in cases of small intestine-related cancer.

The hospitals and clinics segment to lead the trail-

Based on end user, the hospitals and clinics segment held nearly two-thirds of the global ostomy care and accessories market revenue in 2020, and is expected to lead the trail by 2030. Rise in hospital admission cases due to upsurge in IBDs and intestine-related cancer propels the segment growth. The home care settings segment, nevertheless, would manifest the fastest CAGR of 6.0% from 2021 to 2030.

Europe garnered the major share in 2020-

Based on region, Europe held the major share in 2020, generating nearly two-fifths of the global ostomy care and accessories market. Increase in inflammatory bowel diseases, robust healthcare infrastructure, and the presence of key players across the region fuel the market growth. Asia-Pacific, simultaneously, would garner the fastest CAGR of 6.1% by 2030. This is owing to rise in investment and wide number of facilities offering ostomy care services across the province.

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Key players in the industry-

B. Braun Melsungen AG
Coloplast A/S
Cymed Micro Skin
3M Company
Alcare Co., Ltd.
ConvaTec, Inc.
Torbot Group Inc.
Nu-Hope Laboratories, Inc.
Schweitzer-Mauduit International, Inc. (Scapa Healthcare)
Smith and Nephew Plc.
Clinimed Group (Welland Medical Limited)

The report analyzes these key players of the global ostomy care and accessories market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Allied Analytics LLP
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