Ostomy Care & Accessories Market Expected to Reach $4.69 billion by 2030 | CAGR of 4.4%

According to a new report published by Allied Market Research, titled, “Ostomy Care and Accessories market by Product, Application, End User and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030," the ostomy care and accessories market size was valued at $3.05 billion in 2020, and is estimated to reach $4.69 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

Ostomy bag is a plastic/rubber bag or pouch utilized to collect waste generated by the patient affected by inflammatory bowel disease, Crohn’s disease, cancer, and other diseases. Ostomy surgery is one of the life-saving process that permits bodily waste, including urine and stool to pass through a surgically performed stoma on the abdomen.

The factors that drive the growth of the ostomy care and accessories market include rise in applicability of ostomy bags in the medical sector such as hospitals, clinics, and consumers, in terms of both patients and investing firms. Moreover, surge in demand among geriatric population and people with sedentary lifestyle as well as stringent government regulations aimed at reducing the complications & risks related with ostomy surgery strengthen the market growth. However, complications associated with ostomy such as skin irritation, bowel obstruction, retraction, and necrosis restrict the growth of the market. Conversely, the development of large production of ostomy bags and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.

Surge in patient population suffering from colorectal cancer, bladder cancer, and Crohn’s disease as well as technological advancements leading to production of efficient, skin-friendly, durable, reusable, waterproof, and economical bags propel the growth of the ostomy care and accessories market. In addition, upsurge in geriatric population increases the usage of ostomy bags due to high prevalence of life-threatening diseases among aged individuals.

For instance, in 2020, according to the World Health Organization, there were around 1.4 billion people aged 65 years or more across the globe. Moreover, in August 2019, United Ostomy Associations of America, Inc., the 7^th National Conference was held at Pensylvania on “discover the world of ostomy product.” This conference was visited by ostomy producers, accessories producers, retailers, and associated assistance organizations. Thus, development new strategies by key players propels the growth of the market.

Moreover, launch of various products to cater to the unmet demands and initiatives taken by the government for management of various types of cancer boost the market growth. Coloplast is a prominent player in the ostomy care market. The company’s leading position in this market can be attributed to its strong pipeline of new products and adoption of new strategies to enhance its product portfolio based on new technologies available in the market.

For instance, in 2020, the Coloplast company’s ostomy care business witnessed organic sales growth of 6% in 2020. This growth was supported by its key product SenSura Mio product line in various market. SenSura Mio is a range of ostomy product that fits individual body shapes due to the elastic barrier. It is smooth and separate from the barrier, so the pouch can be changed without changing the barrier.

Surge in innovations in advanced level of healthcare product offerings, increase in cases of inflammatory bowel disease is expected to further generate lucrative growth opportunities. In addition, various conditions such as colorectal cancer escalates the demand for ostomy bags, which, in turn, fosters the growth of the ostomy care and accessories market. Furthermore, initiatives taken by governments to ensure early diagnosis and symptoms of disorders and improvement in development of innovative technologies in the healthcare sector propel the growth of the market.

The global ostomy care and accessories market is segmented into type, application, end user, and region. On the basis of type, the market is segmented into ostomy bags and ostomy accessories. The ostomy bags segment is further divided into one-piece bag and two-piece bag. The ostomy accessories segment is subcategorized into barrier rings, flange extenders, and others (pastes, stoma powder, lubricating deodorant, and wipes).

The ostomy bags segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of ostomy care & accessories products

By application, the market is segregated into colostomy bags, ileostomy bags, and urostomy bags. The colostomy segment led the market in 2020, and is expected to retain its dominance during the forecast period.

Depending on end user, the market is fragmented into hospitals & clinics, home care settings, and others. The hospitals and clinics segment exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period, owing to rise in incidence of inflammatory bowel disorder cases.

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 rise in production of ostomy care products, increase in number of approvals for ostomy products, rise in presence of key players, and surge in development of technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of colorectal cancer cases, rise in demand for ostomy bags, and surge in healthcare expenditure.

Key Findings Of The Study

• By product type, the ostomy bags segment was the highest contributor to the market in 2020.
• By application type, the colostomy segment was the highest contributor to the market in 2020.
• By End user, the hospitals & clinics segment was the highest contributor to the market in 2020.
• Region wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.