Global Ostomy Care Accessories Market Revenue to Record Robust Growth in the Years After the End of COVID-19 Crisis
Since the COVID-19 infection flare-up in December 2019, the malady has spread to right around 100 nations around the world with the World Health Organization proclaiming it a general wellbeing crisis. The worldwide effects of the coronavirus sickness 2019 (COVID-19) are now beginning to be felt, and will essentially influence the Healthcare Industry in 2020.
Recent advancements in ostomy care accessories have transformed them into small and portable wearable devices, improving standards of clinical care.
For instance, Ostom-iAlert Sensor, a clipped device from 11 Health Technologies Limited, uses a flexible sensor that provides a signal when the bag is full, through a notification on a smartphone.
Moreover, rising prevalence of gastrointestinal diseases, increasing ostomy surgeries of the bowel, and technological innovations are major factors driving the growth of the ostomy care accessories market. Rising awareness initiatives about ostomy through campaigns are anticipated to strengthen interest in developing economies, thereby boosting the growth of the global ostomy care accessories market.
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Company Profiles
- Coloplast A/S
- Conva Tec Inc
- Hollister Inc
- EuroMed Inc (Scapa Group plc)
- 3M Company
- Smith & Nephew
- FNC Medical
- Nu-Hope Laboratories, Inc
- Marlen Manufacturing & Development
- Torbot Group Inc
- Cymed Ostomy Co
The global ostomy care accessories market was valued at US$ 455 Mn in 2018, and is expected to exhibit a CAGR of 6.8% during the forecast period (2019-2029).
Key Takeaways of Ostomy Care Accessories Market Study
- Demand for skin protection and skin barrier types of products is expected to gain traction during the forecast period, owing to the wide usage of these products as a remedy and prevention of peristomal skin complications.
- Demand for skin-friendly and long wear time seals is constantly increasing across various end-use industries, due to which, the sealing segment is expected to contribute three-fourth market share in the ostomy care accessories market.
- Preference for homecare settings is expected to increase significantly, owing to the availability of trained nurses and reduced emergency visits to hospitals.
- Rise in prevalence of inflammatory bowel diseases, increasing number of ostomy procedures, and growing usage of ostomy care accessories contributed to the dominance of Europe in the global ostomy care accessories market.
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“Technological innovations focused on reducing skin contamination and economic burden, are trending among manufacturers offering ostomy care accessories, which is expected to significantly benefit the market”, says a PMR analyst.
Product Launch – Key Strategic Focus of Ostomy Care Accessories Market Players
The ostomy care accessories market is characterized as a fragmented market. Some of the major players in the market are Coloplast Corp., Convatec, Inc., 3M, and Hollister Incorporated. Launch of technologically-advanced products is the key strategy being followed by these market players. For instance, in 2017, Natura Convex Cut-to-Fit, launched by ConvaTech, Inc., allows easy switching to different types of pouches. Furthermore, easy application and easy cleaning of pouches result in less skin irritation to its users.
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More Valuable Insights on Ostomy Care Accessories Market
Persistence Market Research brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each segment from 2014 to 2029. The global ostomy care accessories market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the ostomy care accessories market, on the basis of product type (belt tapes adhesives, skin protection and skin barriers, irrigation sets & sleeves, convex inserts, and stoma caps), application (sealing, drainage, cleansing, and lubrication), and end user (hospitals, ambulatory surgical centers, and home care settings), across five major regions.
What the report encloses for the readers:
- Critical insights of each segment, including volume growth outlook, and demand & supply pattern.
- A to Z of each player –positives & negatives, current status, future developments – of the global market.
- Detailed information regarding the trends influencing the growth of the global market.
- In-depth assessment on the utilization in the industry.
- Historical data and future growth outlook of the global market.
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