Stoma/Ostomy Care market share is expected to grow at a slow rate of 4% between 2022 to 2032, according to Future Market Insights (FMI) in a recent market analysis.
The rising prevalence of target diseases, advancements in ostomy goods and surgical methods, increased awareness, and reimbursements all contribute to the growth of the stoma care market.
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Colorectal cancer, bladder cancer, and inflammatory bowel disease are the most common illnesses that necessitate ostomy care procedures. Colorectal cancer and inflammatory bowel disease are treated with surgical excision of aggressive melanoma of the intestine (IBD). In some cases, a surgical incision through the abdomen is made to provide a new waste minimization conduit known as an ostomy.
Because of an increase in the occurrence of these illnesses and greater exposure to risk factors, such as changing eating habits and increasing antibiotic use in children, the adoption of stoma/ostomy care procedures performed worldwide has increased.
Despite recent advances in stoma care, the stoma/ostomy market faces a greater number of restraints that limit growth potential. Stoma care issues, discomfort, and other concerns associated with ostomy goods, societal stigma, and increased acceptance of alternative therapies, particularly in developing countries, are likely to restrain the market.
Following the COVID-19 pandemic, there has been a steady decline in the care and prognosis of colon cancer patients in hospitals, according to the stoma/ostomy care market analysis. Patients with CRC who contracted the virus without requiring surgery were given priority for coronavirus treatment. The market suffered as a result of the significant delay in CRC treatment during the pandemic.
Although stomas are a relatively common and safe surgery, there are some risks involved. Although most stoma problems are minor, some, particularly necrosis and exhaustion, can be life-threatening. These issues limit the acceptance of stoma care appliances to some extent.
The stoma care market was valued at US$ 2.6 billion in 2021 and is expected to grow at a CAGR of 4% between 2022 and 2032.
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Key Takeaways:
- According to recent stoma/ostomy care developments, the home care settings category led the market in 2020, accounting for 45.4 percent of total revenue, and is expected to grow the fastest during the forecast period. According to stoma/ostomy care market trends, the accessories section is expected to grow at the fastest rate of 6.6 percent from 2021 to 2028.
- In terms of product type, the ostomy bags sector held the largest share of the stoma/ostomy care market in 2020, accounting for 88.50 percent. During the forecast period, this segment is expected to grow at a CAGR of 4.2 percent.
- According to end users, hospitals, specialist clinics, and stoma care in nursing have the largest market share in the stoma/ostomy care market.
- Due to the prevalence of favourable reimbursement scenarios and improved stoma care procedures appliances and nursing considerations, Europe accounted for 37.85% of the stoma/ostomy care market growth rate in 2020.
“Improvement in product design will remain a key differentiator as end users have to face stigma with the drainage bags.” reports FMI analyst.
Competitive Landscape
The European market for stoma/ostomy care is the largest. However, according to recent trends, key players are focusing on the Asia Pacific market due to low labour costs and a large pool of patients.
- Coloplast is a well-known brand in stoma/ostomy care. The company’s industry-leading position can be attributed to its robust pipeline of new goods, budget management, and the implementation of new tactics to expand its product offering based on new technologies and services. The company’s ostomy care business increased organic sales by 6% in the fiscal year 2020.
- Welland Medical Limited, trading as Aurum Plus, tapped the stoma care market opportunity and developed a new innovative ostomy bag in June 2021. It is available in both closed and drainable varieties.
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Key Segments
By Surgery Type:
- Colostomy
- Ileostomy
- Urostomy
By Product:
- Ostomy Bags
- Ostomy Accessories
By End User:
- Hospitals and Specialty clinics
- Home care settings
- Ambulatory Surgical Centers
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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