The global Stoma/Ostomy Care Market Size is anticipated to be valued US$ 3.8 billion by the end of 2022. The market is expected to increase at a CAGR of 4.9% from 2023 to 2033, with a market value of approximately US$ 6.5 billion in 2033.
The rising prevalence of target diseases, innovations in ostomy items and surgical methods, increased awareness, and reimbursements all help to drive the stoma care industry forward.
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The most prevalent illnesses that demand ostomy care operations are colorectal cancer, bladder cancer, and inflammatory bowel disease. The surgical removal of malignant melanoma of the intestine (IBD) is used to treat colorectal cancer and inflammatory bowel disease. In some circumstances, an ostomy is created by making a surgical incision through the abdomen to provide a new waste minimization channel.
The adoption of Stoma/Ostomy Care treatments conducted worldwide has increased because to an increase in the prevalence of these illnesses and increased exposure to risk factors, such as altering food habits and growing antibiotic use in children.
Despite recent advancements in stoma treatment, the stoma/ostomy market is confronted with an increasing number of constraints that limit growth potential. Stoma care challenges, discomfort and other concerns related with ostomy goods, societal stigma, and greater acceptance of alternative medicines, particularly in developing countries, are expected to limit market growth.
Although stomas are a reasonably routine and safe operation, they do carry some hazards. Although the majority of stoma problems are mild, some, notably necrosis and dehydration, can be fatal. To some extent, these limitations limit the acceptance of stoma care appliances.
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Key Takeaways:
- The US market will account for around 28.7% of the worldwide market in 2023.
- Germany is expected to have a 5.3% global market share in Stoma/Ostomy Care by 2023.
- During the forecast period, the Indian market is expected to grow at a CAGR of 3.8%.
- Ostomy Bags is expected to hold a significant revenue share of 84.3% in the global market by 2023, owing to an increasing number of patients suffering from target diseases such as colorectal cancer.
- Due to the rising frequency of IBD, bowel cancer, and colon cancer in both developed and developing nations, as well as the favourable reimbursement environment in developed countries, the colostomy sector is predicted to hold a high market share of 88.8% in the global market in 2023.
“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 Singapore released SenSura Mio in February 2022, which uses the most latest elastic adhesive technology and is appropriate for all peristomal body profiles. SenSura® Mio is being offered in Singapore for the first time in Southeast Asia with the goal of improving the quality of life for ostomytes, or those who have had an ostomy and now have a stoma.
- Trio Healthcare received financing from SWK Holdings Corporation, a specialised finance company based in the United States, in February 2020, in order to accomplish significant local and global expansion ahead of an anticipated product launch in 2021.
Key players in the Stoma/Ostomy Care Market
BAE Systems Plc, ConvaTec Inc., Hollister Inc., EuroMed, Inc, 3M Company, Smith & Nephew plc, FNC Medical, Nu–Hope Laboratories, Inc., Marlen Manufacturing & Development Co., Torbot Group, Inc, Cymed Micro Skin, Alcare Co., Ltd., B. Braun Melsungen AG., Salts Healthcare Ltd, Securi–T USA., Welland Medical Limited, Flexicare Group Limited.
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Key Segments
By Surgery Type:
- Colostomy
- Ileostomy
- Urostomy
By Product:
- Ostomy Bags
- Ostomy Accessories
- Belts & Tapes
- Skin Protection &Skin Barrier
- Irrigation Sets
- Convex Inserts
- Stoma Caps
By Application:
- Cancer
- Inflammatory Bowel Disease
- Bowel Obstruction
- Fecal Incontinence
- Trauma and Infection
By End–Users:
- Hospitals and Specialty Clinics
- Home Care Settings
- Ambulatory Surgical Centers
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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