Ostomy care and accessories Market Expected to Reach $4.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Ostomy care and accessories Market," The ostomy care and accessories market size was valued at $3.0 billion in 2020, and is estimated to reach $4.8 billion by 2030, growing at a CAGR of 4.5% from 2021 to 2030.

Ostomy is a surgical procedure in which an artificial opening known as stoma is created in an operation necessary in case of intestinal dysfunction due to a disease, an accident, or a congenital abnormality. A section of the intestine is surgically diverted through a stoma in the abdominal wall, allowing the patient to empty the bodily wastes such as the urine, mucus, and stools through colostomy, ileostomy, and urostomy. Ostomy drainage bags or pouches are used to collect the wastes, and various supporting essential ostomy accessories are used to keep the bag in place and to prevent leakage as well irritation to the patient’s skin.

The ostomy care and accessories market growth is majorly driven by rise in geriatric population; surge in number of patients suffering from inflammatory bowel diseases (IBDs) such as the Crohn’s diseases & ulcerative colitis as well as increase in cases of bladder cancer, colorectal cancer, diverticulosis, & diverticulitis cases. Thus, leading to rise in the number of ostomy surgeries.

Increase in prevalence of colorectal cancer cases is one of the factor that upsurges the utilization of ostomy bags and accessories. For instance, according to the National Cancer Institute of the United States Department of Health and Human Services, about 151,030 new cases of colorectal cancer are expected to be diagnosed in the U.S. by the end of 2022. Furthermore, an estimated 1,369,004 people in the U.S. were living with colorectal cancer in 2019, and around 4.1% of men and women would be diagnosed with colorectal cancer at some point of time in their life. According to Coloplast A/S, the global leader in the ostomy care market, about 50–60% of stoma operations are performed as a consequence of cancer. Thus, the aforementioned factors are anticipated to fuel the adoption of ostomy care products & accessories.

In addition, technological advancements in ostomy products leading to production of efficient, skin-friendly, durable, reusable, waterproof, and economical bags drive the market growth. Growing demand for products according to individual fits and increase in initiatives by governments & key players to promote awareness about ostomy care are significant ostomy care and accessories market trends.

For instance, in February 2022, Singular Health, a medical technology company, in collaboration with the national research agency, Commonwealth Scientific and Industrial Research Organization (CSIRO) received a $100,000 funding from the Innovative Manufacturing Cooperative Research Centre (IMCRC). These funds will be used to assist the development and commercialization of a personalized 3D-printed ostomy seal set, which functions as a seal between a patient's abdomen and stoma bag. The ostomy seal may thus be created and made to fit each patient's unique morphology, considerably minimizing the possibility of leakage

However, unfavorable reimbursement scenario, increase in incidence of post-surgery infections, and stoma care complications such as skin irritation and dehydration are expected to impede the market growth. On the contrary, surge in healthcare investments in public as well as private sectors, increase in patient population, unmet medical demands in developing economies in Asia-Pacific are anticipated to open new avenues for the expansion of the global ostomy care & accessories market during the forecast period. By product, the ostomy bags segment generated maximum revenue in 2020, accounting $1,656.31 million owing to rise in number of temporary as well as permanent stoma surgeries.

On the basis of type, the ostomy care industry is segmented into ostomy accessories and ostomy bags. The ostomy accessories segment is expected to witness highest CAGR of 5.5% during the forecast period owing to rise in the awareness and usage of various accessories which help to keep the bag in place and usage of wipes, powders also leads to a healthy stoma skin.

On the basis of application, the colostomy segment generated maximum revenue in 2020, accounting $1,532.42 million owing to surge in the number colon cancer, colorectal cancer and other large intestine disorders. The ileostomy segment is expected to witness highest CAGR of 5.2% during the forecast period owing to increase in the number of small intestine disorders

Depending on end user, the market share analysis of hospitals & clinics segment generated maximum revenue in 2020, accounting $1,933.4 million owing to increase in the number of patient admissions for, intestinal cancer which might require permanent stoma care and also for various other general surgeries which may require temporary stoma care. The home care settings segment is expected to witness highest CAGR of 6% during the forecast period owing to upsurge in the number irreversible ostomy surgeries and increasing availability of technically skilled nurses for private practices

Europe accounted for a majority of the global ostomy care and accessories market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in prevalence of IBDs, development of new ostomy products, strong presence of key players, and rise in healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to surge in geriatric population, as aged individuals are highly susceptible to gastrointestinal diseases, unmet medical demands, and increase in investments for development in the healthcare sector in the region.

KEY FINDINGS OF THE STUDY

• Based on type, the ostomy bags segment held the largest share in the global market in 2020.

• On the basis of application, the colostomy held the largest market share in 2020 and is expected to remain dominant during the forecast period.

• On the basis of end user, the hospitals & clinics segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.

• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.1% during the forecast period.