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Ostomy Care Accessories Market

Ostomy Care Accessories Market<br>

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Ostomy Care Accessories Market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. OSTOMY CARE ACCESSORIES MARKET ANALYSIS Ostomy Care Accessories Market, By Product Type (Belts, Tapes, Adhesives, Convex Inserts, Irrigation Sets & Sleeves, Skin Protection and Skin Barriers, Stoma Caps), By Application (Drainage, Sealing, Lubrication, Cleansing), By End User (Hospitals, Ambulatory Surgical Centers, Home Care Settings), and By By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. Ostomy Care Accessories Market – InsightsOstomy is a surgical procedure to create an opening from the urinary tract or intestines as a way for waste products to leave the body. There are three type of ostomy: colostomy, ileostomy, and urostomy. Ostomy care accessories are designed to enhance wear time and performance of ostomy pouches. Ostomates use these accessories as per their requirement such as leakage issues, odor, and support.Statistics:The global ostomy care accessories market is estimated to account for US$ 829.6 Mn in terms of value by the end of 2027.Global Ostomy Care Accessories Market: DriversIncreasing prevalence of colorectal is expected to people growth of the global ostomy care accessories market over the forecast period. For instance, according to World Cancer Research Fund (WCRF), colorectal cancer is the third most commonly occurring cancer in men and the second most commonly occurring cancer in women. There were over 1.8 million new cases in 2018, according to WCRF.Moreover, increasing incidence of bladder cancer is also expected to aid in growth of the market. For instance, according to The American Cancer Society, the U.S. is expected to register around 80,470 new cases of bladder cancer and 17,670 deaths from bladder cancer in 2019.Europe region held dominant position in the global ostomy care accessories market in 2019, accounting for 42.2% share in terms of value, followed by North America.

  4. Figure 1. Global Ostomy Care Accessories Market Value (US$ Mn), by Region, 2019

  5. Global Ostomy Care Accessories Market: Restraints • Lack of awareness in developing countries about the ostomy accessories available in the market is expected to hinder growth of the global ostomy care accessories market to a certain extent. • Moreover, increasing pricing pressure due to factors such as directives by various governments worldwide and intense price wars is adversely affecting profitability of manufacturers of products related to ostomy. This is turn is expected to hamper growth of the market. For instance, ConvaTec’s ostomy care business witnessed a 1.5% decline in organic revenue during the fourth quarter of FY2019.

  6. Global Ostomy Care Accessories Market: Opportunities • Increasing prevalence of various diseases such as colorectal and bladder cancers and Crohn’s disease in emerging economies is expected to offer lucrative growth opportunities for players in the global ostomy care accessories market. For instance, according to the study, ‘Trends in and Predictions of Colorectal Cancer Incidence and Mortality in China From 1990 to 2025’, published in the journal Frontiers in Oncology in February 2019, in China, the age-standardized incidence rate among males for colorectal cancer increased by 2.76% per year from 1990 to 2016, and the cancer cases increased more than three times compared to 1990. • Increasing funding for R&D in ostomy bags and accessories is expected to boost growth of the market. For instance, in January 2019, Ostique, a startup company focused on developing products that are more convenient from the traditional ostomy bags, received around US$ 340,000 from Innovate UK, the U.K.’s innovation agency.

  7. Skin Protection and Skin Barriers segment in the global ostomy care accessories market was valued at US$ 180.5 Mn in 2019 and is expected to reach US$ 313.3 Mn by 2027 at a CAGR of 7.0% during the forecast period.

  8. Market Trends/Key Takeaways • The market is witnessing increasing M&A activities from major market players. For instance, in January 2020, AdaptHealth, the U.S.-based home medical equipment provider, acquired the Patient Care Solutions (PCS) business of McKesson, which added urological and ostomy products to AdaptHealth’s home medical equipment product portfolio. • Key players in the market are focused on developing external urine collection devices. For instance, in November 2019, American Medical Technologies partnered with TillaCare to introduce UriCap, an external urine collection device for managing female urinary incontinence (UI) in the long-term care in the U.S. .

  9. Global Ostomy Care Accessories Market: Competitive Landscape • Major players operating in the global ostomy care accessories market include, Coloplast Corp., ConvaTec Inc., Hollister Inc., EuroMed, Inc., AdaptHealth, LLC, 3M Company, Smith & Nephew plc., FNC Medical Corporation, Nu-Hope Laboratories, Inc., Marlen Manufacturing & Development Co., Torbot Group, Inc., 180 Medical, Inc., and Cymed. • Global Ostomy Care Accessories Market: Key Developments • Key players in the market are also focused on expanding their product portfolio. For instance, in December 2019, 180 Medical, Inc., a supplier of intermittent catheters and ostomy supplies, announced that the company started offering incontinence products for patients suffering from urinary incontinence, fecal incontinence, and other medical conditions that may cause neurogenic bladder and/or neurogenic bowel. • Major market players are also focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, AdaptHealth LLC entered into a definitive agreement with Advanced Home Care to acquire its home medical equipment business.

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/ostomy-care-accessories-market-3280

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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