Wilmington, Delaware, United States, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Stoma Care Market size is projected to reach US$ 516.9 Mn by 2023, expanding at a CAGR of 7.0% from 2023 to 2033. The increase in the prevalence rate of bladder cancer, inflammatory bowel disease (IBD), and colorectal cancer globally has accelerated the demand for ostomy surgeries. This is likely to augment the stoma care market size. A surge in awareness and growing patient education about stoma care are trends expected to bolster market growth.
Healthcare providers are educating patients to help them adjust to life with a new ostomy and reduce hospital readmissions. These initiatives improve stoma acceptance in patients and is expected to augment the stoma care market. Ostomy product manufacturers are keen on developing products that enhance the convenience of patients, particularly manufacturers of ostomy bags. These are also offering educational support materials for stoma care.
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Key Findings of Study
- Advancement in Stoma Care Products to Create Lucrative Opportunities: Advances in ostomy systems are likely to broaden market outlook in the near future. Companies have introduced innovative solutions for ileostomy patients. Significant utilization of skin-protective agents in stoma collecting devices is expected to accelerate global stoma care market development. The surge in adoption of skin-friendly ostomy products is expected to fuel market growth.
- Rise in Public Awareness about Ostomy Care to Bolster Market Development: Several developed countries, such as Europe, have witnessed significant increase in number of ostomates. This is expected to spur demand for stoma care products. Hospitals have increased focus on enhancing the quality of life of stoma patients. The hospitals segment accounted for major market share in 2022. Rise in number of colorectal and abdominal surgeries among the elderly has led to the need for educating them on ostomy self-care. For instance, intestinal ostomies have increased rapidly among the geriatrics, which has led to creation of a stoma. Acceptance of stoma depends on imparting education about health-related quality of life.
Key Drivers
- Increase in prevalence of inflammatory bowel disease (IBD). especially among children, in several countries is a key driver of the stoma care industry
- Surge in the elderly population in several countries is expected to boost the stoma care market outlook
- Significant burden of colon and rectal cancer is likely to create demand for colostomy surgeries such as colostomy, ileostomy, or urostomy. These surgeries are bolstering demand for stoma care products.
- Focus of healthcare providers to extend reimbursement for ostomy supplies to patients is poised to bolster the stoma care market
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Regional Growth Dynamics
- The market in the U.S. was valued at US$ 117 Mn in 2022 and is projected to grow at a rapid pace from 2023 to 2033. Rise in number of ostomy surgeries and strong demand for stoma care in various indications in patients are expected to propel the market in the next few years. Significant increase in prevalence of colorectal cancer is expected to bolster product demand in the stoma care market in the country.
- Europe is also a lucrative region, and held major share of the global stoma care industry in 2020 Increase in public awareness about stoma care among the patient population and rise in incidence of Crohn’s disease and ulcerative colitis in the region have fueled the market in the region in the past few years.
- Companies in the global stoma care industry are focusing on increasing revenue by tapping into significant product demand in South America and the Middle East. However, rise in awareness about stoma bags in India, China, Brazil, and Indonesia is expected to bolster market expansion.
Competition Landscape
Key players in the stoma care market are expanding their product portfolio and focusing on new product development in order to consolidate market position in the next few years. For instance, stoma care product manufacturers are offering products to fulfil the requirements of stoma in preterm infants and children. Several companies are targeting the patient population in developing countries in order to expand customer base due to large unmet medical needs.
Prominent companies in the stoma care industry are
- Coloplast,
- B. Barun,
- Hollister Incorporated,
- Convatec Group plc.,
- Smith & Nephew,
- Torbot Group Inc.,
- Alcare Co., Ltd.,
- 3M, and Salts Healthcare.
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Stoma Care Market Segmentation
By Product Type
- Closed Bags
- Open/drainable Bags
- One-piece Bags
- Two-piece Bags
- Other Product Types
By Application
- Colostomy
- Ilesotomy
- Urostomy
By End-use
- Homecare Settings
- Hospitals
- Other End-uses
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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