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Mar 11, 2020 6:00 PM ET

Ostomy Care Market | Driven by High incidence of Bladder, Colorectal Cancer and Inflammatory Bowel Disease




iCrowd Newswire - Mar 11, 2020

The high incidence of bladder, colorectal cancer, inflammatory bowel disease; rising geriatric population; 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.

The global ostomy care market is projected to reach $2.99 billion by 2022 from $2.40 billion in 2017, at a CAGR of 4.5%.

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Driver: High incidence of bladder, colorectal cancer, inflammatory bowel disease 

Colorectal cancer, bladder cancer, and inflammatory bowel disease are the major conditions responsible for ostomy surgery. The treatment of colorectal cancer and inflammatory bowel disease (IBD) involves the surgical removal of the malignant tumor/part of the intestine. In some cases, the surgical opening is made through the abdomen to provide a new pathway for waste elimination, commonly referred to as ostomy.

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The high incidence of the aforementioned conditions, coupled with the growing exposure to risk factors (such as changing food habits and growing use of antibiotics in childhood), are resulting in an increase in the number of ostomy surgeries, globally. Some of the major statistics related to the incidence of target indications are mentioned below:

1. According to the World Cancer Research Fund (WCRF), colorectal cancer is ranked as the third most common type of cancer in the world, with 1.4 million new cases diagnosed in 2012 (projected to reach 1.7 million by 2020); bladder cancer is ranked as the ninth most common type of cancer in the world, with 430 thousand new cases diagnosed in 2012 (projected to reach 535 thousand by 2020).

2. Globally, the incidence of conditions such as ulcerative colitis (UC) and Crohn’s disease (CD) has increased over the last few years. For instance, ~1.6 million people in the US currently have Crohn’s disease or ulcerative colitis, and every year 70,000 new cases of IBD are diagnosed in the country.

North America dominated the market in 2017

On the basis of region, ostomy care market is segmented into North America, Europe, Asia, and the rest of the world. Among these regions, Europe is estimated to hold the largest market share in 2017 owing to the fact that European countries have a higher prevalence of IBD which is results in a higher number of ostomy surgeries. The unfavorable reimbursement scenarios in most of developing countries, and discomfort and other issues associated with the use of ostomy bags are expected to restrain the growth of this market.

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Key Players:

The major players in the stoma care market profiled in this report are ConvaTec (UK), Coloplast (Denmark), and Hollister Incorporated (US). Other players involved in this market include B. Braun (Germany), Alcare (Japan), Nu-Hope (US), Marlen (US), Welland Medical (UK), BAO-Health (China), Flexicare Medical (UK), Cymed (US), Schena Ostomy (US), Perma-Type (US), 3M (US), and Smith & Nephew (UK).



Contact Information:

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441






Keywords:    Ostomy Care Market, Stoma Care Market, Ostomy Care Accessories Market, Stoma Care Accessories Market

Tags:    Extended Distribution, Wire, Research Newswire, English