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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Stoma/Ostomy Care Products market. Market segmentation includes Applications (Ostomy Care Bags and Ostomy Care Accessories); and End-use (Home Care; Hospitals & Ambulatory Surgical Centers).

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24 November 7:18 a.m., Silicon Valley, California - According to the new market research report, the global market for Stoma/Ostomy Care Products is projected to grow at a CAGR of 19.5% to reach US$3.9 billion by 2027, driven by increase in the number of colorectal cancer, bladder cancer and IBD patients; and increasing geriatric population. Technological developments in ostomy products, educating patients through awareness programs to encourage ostomy products usage, and well-organized reimbursement system in developed countries are other factors expected to drive this market. The ostomy market also benefits from the increasing survival rates from colorectal and bladder cancer. Mortality rate from these cancers has improved considerably during the past decades, both for women and for men. Resultantly, the increasing life expectancy of people bodes well for the ostomy care products market, considering the chronic nature of the conditions and the increasing need to use ostomy products.

Another key factor that is expected to drive gains in the market includes the aging phenomenon of global population that is expected to further magnify the target pool. Concurrent with this is the rise in the prevalence rates of inflammatory bowel diseases, such as ulcerative colitis and Crohn's disease, which necessitates patients to undergo surgical procedure. Product and technological advancements constitute the other key market driver that is leading to user-friendly products, specifically targeted at the elderly. Additionally, increasing healthcare expenditure, growing consumer awareness programs such as World Ostomy Day, consumer retention programs such as Coloplast CARE, innovative marketing initiatives, and limited competition are the other factors driving growth of the ostomy products market. Moreover, ostomy bags are exempted from 510k class I devices, implying that these products are subject to relatively less stern FDA approval norms. This factor also enables the market to sustain growth momentum.

Two of the important end-use sectors are home care and hospital, the former accounting for a major share of the market and is also expected to exhibit a faster growth rate than the other sectors in near term. The key drivers for the home care market are availability of trained nurses and rising preference of patients for home healthcare that include services like changing & emptying ostomy bags and maintaining healthy stoma. With advancements in products and trained manpower, even in homecare settings risk of ostomy-related complications is significantly reduced. Emergency visits to hospitals are also reduced as trained nurses are capable of providing proper care to the patient.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 3563. Among this pool, 641 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 107 unique participations, a total of 48 validated responses were received as part of this report's primary research outreach program.

Key Competitors Covered in the Report -
3M Company
B. Braun Melsungen AG
Smith & Nephew PLC
Coloplast Group
Hollister, Inc.
Flexicare Medical Ltd.
Marlen Manufacturing & Development Company
Salts Healthcare
Vogt Medical Vertrieb GmbH
Alcare Co., Ltd.
Pelican Healthcare Ltd.

Segments Covered in the Report -
End-Use (Home Care, Hospitals & Ambulatory Surgical Centers)
Product (Ostomy Care Bags, Ostomy Care Accessories)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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