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Stoma/Ostomy Care Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

A11276
Pages: NA
Jul 2021 | 61 Views
 
Author(s) : Onkar Sumant
Tables: NA
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An ostomy is an opening created surgically from the urinary tract or intestines, where effluent is made to reroute to the outside of the body with the help of an artificially created opening called a stoma. A stoma protrudes above the skin, with generally no nerve sensations. These surgeries are performed when part of the bowel or urinary system is diseased and therefore is a necessity to be cast-off. The output from the stoma (feces, urine, or mucous) is called effluent. The persons with colostomies, ileostomies, or urostomies have no control or sensation of frequency or output of the stoma, which a condition to be managed fast. Patients with ostomies are mostly recommended to wear a pouching system to collect the effluent from the stoma and hence protect the skin from irritation.

Stoma/Ostomy Care Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Product, End User and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Hollister Incorporated, Cymed, Perma-Type Company Inc., ConvaTec Group plc., ALCARE Co., Ltd., Nu-Hope, Welland Medical Limited, Baohe Ostomy Care, Flexicare Medical Limited, Schena Ostomy Technologies, Inc., Marlen Manufacturing & Development Company, 3M, B. Braun, Smith & Nephew and Coloplast A/S.

 

COVID-19 scenario analysis:

Coronavirus disease 2019 (COVID-19) has caused a havoc amongst the global population and is causing economic crisis in various sectors including pharmaceutical sector. The lockout situation has further stipulated the limitations of the resources and hence adversely affecting the pharmaceutical industry. The Covid-19 pandemic has an adverse impact on the healthcare system, subsequently 50% to 70% drop in revenue is observed from March. There is a lockout situation enforced by the government which forces the small hospitals and other nursing homes to be shut, which is leading to the reduction in the number of surgical procedures and consequently reducing the revenue generated from the sector. In addition, visa cancellations have led to a halt in medical tourism and can negatively impact the healthcare services stoma/ostomy care market growth.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The key factor affecting the market include, the increase in the incidence of colorectal cancer, inflammatory bowel diseases, and bladder cancer, which is anticipated to boost the industry at a higher pace in the forecast period. The rise in the number of the initiatives and awareness programs to educate the patients regarding the use of the ostomy products and the supportive reimbursement system in the developing countries would boost the industry in the near future. Furthermore, the rise in the technological advancements in ostomy care or stoma care products would help the market gain maximum revenue in the pharmaceutical industry. However, the dearth of skilled professionals may hinder the growth of the industry in the coming years.

New product launches to flourish the stoma/ostomy care market

The launch of new products would help the industry to gain maximum shares as, they are designed according to the need of the hour. For instance, in July 2019, Coloplast completed its launch of SenSura Mio ostomy care range with new innovative products for premature babies and kids. Coloplast proudly presented two new members of the SenSura Mio family, SenSura Mio Baby and SenSura Mio Kids. Coloplast now offered a full range of ostomy care products to fit everyone and everybody profile. While SenSura Mio, SenSura Mio Convex, and SenSura Mio Concave are designed to fit the individual shapes of adults with regular, inward, and outward body profiles.

Furthermore, in May 2019, Welland Medical (UK) had announced the launch of the Aurum range of skin-friendly ostomy products Sweden at the Swedish ET-nurse congress held in Malmo. The products that were included are Aurum, Aurum Xtra, Aurum Convex, and Aurum Profile.

Surge in mergers and acquisitions to boost the market

The surge in the number of mergers and acquisitions are anticipated to help the stoma/ostomy care market grow in the coming years. For instance, in January 2017, ConvaTec Group Plc, which is a leading global medical products and technologies company, announced the acquisition of EuroTec Beheer B.V., which is a Netherlands-based manufacturer of ostomy appliances for a purchase price of €25 million. The addition of EuroTec to the ConvaTec family will help in strengthening ostomy care business in the France and Benelux region, and is a significant pillar in the growth strategy for our ostomy care franchise.

In January 2020, AdaptHealth Corp. announced that it had acquired the Patient Care Solutions business from McKesson Corporation and named healthcare industry veteran Rodney Carson as President of the newly-formed AdaptHealth Patient Care Solutions (AdaptHealth PCS). The acquisition helped in the additions of urological and ostomy products to AdaptHealth’s HME product portfolio and upsurges the company’s footprint in areas such as breast pumps, wound care, incontinence supplies and diabetic care.

Key segments covered:

Segments

Sub-segments

  Product

  • Ostomy Bags
  • By Surgery Type
  • Ileostomy
  • Colostomy
  • Urostomy
  • By Usability
  • Drainable Bags
  • Closed-end Bags
  • Ostomy Accessories
  • Pastes & Powders
  • Creams
  • Cleansers
  • Deodorants
  • Other Accessories

  End User

  • Home Care Settings
  • Hospitals
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Stoma/Ostomy Care industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Stoma/Ostomy Care market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Stoma/Ostomy Care market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global Stoma/Ostomy Care market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Stoma/Ostomy Care Market research report:

  • What are the leading market players active in the Stoma/Ostomy Care market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in tasking further strategic steps?
 
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