Ostomy Care Market - Raising Incidence of Cancer Driving Market Growth
What This Report Will Provide? This study involved four major activities in estimating the current size of the ostomy care market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments. Expected Revenue Growth: The global ostomy care market size is projected to reach USD 3.5 billion by 2025 from USD 2.8 billion in 2020, at a CAGR of 4.4% Major Growth Boosters: Market growth is driven mainly by factors such as rising incidence of bladder cancer, colorectal cancer, and inflammatory bowel disease; growing geriatric population; a growing number of awareness programs to educate patients regarding the use of ostomy products; technological advancements in ostomy products; and efficient reimbursement system in developed countries are some of the factors driving the growth of the ostomy care market. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=267183143 Recent Developments: In 2019, Coloplast A/S (Denmark) launched SenSura Mio Baby and SenSura Mio Kids products. In 2019, Welland Medical (UK) launched the Aurum range of skin-friendly ostomy products in Sweden at the Swedish ET-nurse congress held in Malmö. The products include Aurum, Aurum Xtra, Aurum Convex, and Aurum Profile. In 2019, Hollister (US) established a new production site in Kaunas, Lithuania. The newly established facility is engaged in manufacturing ostomy care and continence care products. Regional Growth Analysis: Europe to Dominate The Market: The large share of Europe can be attributed to the growing patient population, rising geriatric population (as this population segment is more prone to developing gastrointestinal diseases which require ostomy procedures), and favorable reimbursement scenario. The population structure of European countries represents low birth rates and higher life expectancy. The rising aging population indicates future increases in the incidence of cancers of the colon and bladder, IBD, and incontinence. Key Questions Addressed in The Report: 1. Who are the top 10 players operating in the global ostomy care market? 2. What are the drivers, restraints, opportunities, and challenges in the ostomy care Industry? 3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players? 4. What will be growth of ostomy care in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa? Request Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=267183143 Ostomy Care Bags: Based on the product, the market is categorized into ostomy bags and ostomy accessories. The bags segment is further classified into type, surgery type, and usability. The ostomy bags segment is anticipated to hold major market share over the forecast period owing to the rise in the patient population undergoing ostomy surgeries (either ileostomy, colostomy, or urostomy), technological advancements in the segment, and efficient reimbursement system in developed countries. Key Players: Coloplast A/S (Denmark), Hollister Incorporated (US), ConvaTec Group plc (UK), B. Braun (Germany), ALCARE Co., Ltd. (Japan), Nu-Hope (US), Marlen Manufacturing & Development Company (US), Welland Medical Limited (UK), Baohe Ostomy Care (China), Flexicare Medical Limited (UK), Cymed (US), Schena Ostomy Technologies, Inc. (US), Perma-Type Company Inc. (US), 3M (US), Smith & Nephew (US), and Salts Healthcare (UK), among others, are the key players in the ostomy care market.