Global Ostomy Products Market 2018-2022
About Ostomy Products
An ostomy is a surgical procedure that is performed to create an opening in the abdomen to excrete the waste products. Such surgical openings in the abdomen are known as artificial stoma. Based on the complications, artificial stomas can be temporary or permanent. People who undergo temporary ostomy procedure also undergo therapeutic procedures, which help to recover the intestine. In such cases, stomas can be reversed. In both temporary and permanent ostomy procedures, ostomy bags are attached to the stoma to collect the waste products. To enhance the performance and increase the comfort level, ostomy accessories are used, which help to prevent leakage, prevent infection and skin rashes, and reduce the odor of wastes in the ostomy bags.
Technavio’s analysts forecast the global ostomy products market to grow at a CAGR of 4.97% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global ostomy products market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of ostomy products.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ostomy Products Market 2018-2022
Technavio recognizes the following companies as the key players in the global ostomy products market: ALCARE, B. Braun Melsungen, Coloplast, ConvaTec, Hollister, and Marlen Manufacturin.
Other Prominent Vendors in the market are: 3M, Colo-Majic, Cymed, Dansac, Flexicare Medical, KEM, Medline Industries, and Melson Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing adoption of closed one-piece ostomy bags will be one of the key trends that will gain traction in the ostomy products market during the next few years. Closed one-piece ostomy bags contain an inseparable unit formed by the container and flange together. These bags can be disposed as one single unit and this minimizes the amount of time and effort required for ostomy care routine. The utilization of these bags will ease the management of waste in social environments and with physical activities and can be used by individuals having a descending or sigmoid colostomy with harder stool output.”
According to the report, one of the major drivers for this market is rising number of chronic diseases. There is an increase in the prevalence of chronic diseases including colorectal cancer, rectal cancer, bladder cancer, colon infection, and inflammatory bowel diseases in both the developing and developed countries. Developed countries have marginally better survival rate of cancer patients due to the presence of advanced healthcare facilities.
Further, the report states that one of the major factors hindering the growth of this market is high cost of ostomy procedure and products. Based on the need, ostomy procedures are performed to connect to the abdominal wall with intestine or bladder. The surgical intervention can help an individual to lead a normal life; however, the high cost of ostomy procedure, can reduce the adoption of it, which, in turn, can decrease the demand for ostomy products.
ALCARE, B. Braun Melsungen, Coloplast, ConvaTec, Hollister, Marlen Manufacturin, 3M, Colo-Majic, Cymed, Dansac, Flexicare Medical, KEM, Medline Industries, and Melson Medical.