Ostomy Care Accessories Is Estimated To Witness High Growth Owing To The Rising Prevalence Of Chronic Diseases Requiring Ostomy Surgery
Ostomy care accessories are medical devices such as belts, pouches, skin barriers, skin protection and deodorants used by patients who have had ostomy surgery. Ostomy surgery creates an artificial opening in the abdomen to allow for elimination of waste after a colostomy, ileostomy or urostomy. This surgery is performed to treat conditions like inflammatory bowel disease, bowel cancer, bladder cancer or conditions from birth. An ostomy pouch is attached directly to the abdomen via an adhesive wafer to collect waste.
The global ostomy care accessories market is estimated to be valued at US$ 3.69 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The ostomy care accessories market is expected to witness high growth owing to the rising prevalence of chronic diseases requiring ostomy surgery. According to the Centers for Disease Control and Prevention, over 1.3 million Americans are currently living with an ostomy. The prevalence of bowel cancer, inflammatory bowel disease and other conditions are increasing globally due to lifestyle changes and prolonged life expectancy. This is leading to larger number of ostomy procedures performed each year. As the ostomy patient pool increases, demand for ostomy accessories like pouches, barriers and skin protection products will also rise proportionately. Furthermore, growing awareness and acceptance about ostomies is also supporting market growth by encouraging patients to openly manage their conditions using accessories. Product innovations providing enhanced flexibility, comfort and discretion are further boosting market revenues. However, high costs of ostomy products and limited reimbursement in developing regions may restrain market growth to some extent.
SWOT Analysis
Strength: Ostomy care accessories provide essential support for colostomy, ileostomy and urostomy patients. They help manage waste collection bags securely and comfortably. Various adhesive strips, belts and protective covers offer patients discreet solutions. Products continue innovating to stay more skin-friendly and user-friendly.
Weakness: Some ostomy accessories are single-use disposables adding to monthly costs and wastage for patients. Availability of specialized products varies globally depending on awareness and healthcare infrastructure. Adhesion issues can occur due to moisture or improper cleaning affecting bag security.
Opportunity: Rising incidence of IBD, bowel cancer and bowel injuries increases the ostomate population worldwide. Emerging markets in Asia Pacific and Latin America present scope as awareness grows. Remote monitoring technologies may integrate with accessories improving outcomes. Reusable accessories reduce costs and waste if designed sustainably.
Threats: Economic slowdowns can postpone non-essential purchases. Loose regulations allow low-quality imports risking patient wellbeing. Existing brands face pressure from private label products. Future alternative procedures may supersede ostomies in some cases.
Key Takeaways
The global Ostomy Care Accessories Market Demand is expected to witness high growth over the forecast period driven by rising ostomate population worldwide. North America currently dominates owing to advanced healthcare systems and availability of specialized products in the region. However, Asia Pacific is poised to be the fastest growing market with China and India emerging as major hubs.
Regional analysis:
Asia Pacific is projected to rise at the fastest pace due to growing medical tourism, rising healthcare investments and expanding ostomy associations in the region. China accounts for the largest share currently while ostomate counts are rising swiftly in India, Japan and South Korea as well.
Key players:
Key players operating in the ostomy care accessories market are Coloplast Corp, ConvaTec Inc., Hollister Incorporated, Marlen Manufacturing & Development Company, Perma-Type Company, Inc., Nu-Hope Laboratories, Inc., Perfect Choice Medical Technologies, Fortis Medical Products, Safe n' Simple, AdvaCare Pharma, Schena Ostomy Technologies, Inc., Cymed, TG Eakin Limited, Alcare Diagnostic Research Center Pvt. Ltd.
Explore more information on this topic, Please visit @ http://insightfulmarket.weebly.com/blog/the-demand-for-the-global-ostomy-care-accessories-is-accelerated-by-increasing-ostomy-procedures
English
Arabic
Français
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian