Ostomy Care Market Estimates Showing Surprising Stability in Key Business
Posted by Preet on September 11th, 2019
The ostomy care market continues to expand a steady pace owing to the rapidly growing geriatric population and constant spike in the number of ostomy surgeries in bladder cancer, inflammatory bowel diseases, and bowel cancer. Additionally, the continuing rise in the number of patient awareness programs on the use of ostomy products, and novel product development are some of the vital determinants that are highly likely to shape the dynamics of the ostomy care market during 2019-2029.
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In view of the rapidly growing number of stoma surgeries, the demand for ostomy care pouches and accessories has grown significant in recent years. The Fact.MR analysis anticipates that the ostomy care market valued ~US$ 3Bn in 2018, and the lucrativeness is highly likely to grow 1.6 X through 2029.
Increasing prevalence of inflammatory bowel diseases, including Crohn’s disease or ulcerative colitis, fecal incontinence, diverticular disease, and intestinal cancer, coupled with the rising health care expenditure in line with novel products in ostomy care are determinants that are anticipated to fuel the growth of the ostomy care market during the foreseeable period.
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One piece ostomy care pouches have been witnessing wide adoption for over years, however, the two piece pouches have now emerged as a viable and improved substitute to the traditional variants. This falls in line with the cost competitiveness and easy availability of two piece pouches. For that matter the adoption of two piece ostomy care pouches is growing at a steady pace across hospitals and homecare setting for cancer and inflammatory bowel disease among others.
Number of ostomy surgeries performed globally are growing at a rapid pace, and half of them are performed on females. The availability of ostomy pouches was limited to white color and transparent types for decades, however, the scenario is likely to change in the coming years. The shifting focus of patients on wearing medical equipment and pouches that don’t hamper their aesthetic value or out appearance, is rapidly changing the big picture of the ostomy care market. Several companies are developing and offering designer and aromatic ostomy care pouches to cater to the shifting preference of the users. Such growing inventions and advancements in the ostomy care market are creating a stream of market growth opportunities.
