by Ostomy care accessories help manage waste disposal for people who have had colostomies, ileostomies, or urostomies. They include pouches, belt and tapes that are worn externally to collect and contain waste from a surgically diverted section of the bowel or bladder. The demand for ostomy care accessories is driven by the rising prevalence of colorectal cancer globally. Colorectal cancer is one of the most commonly occurring cancers worldwide and its treatment often involves surgical procedures that lead to ostomies.
Ostomy care accessories offer drainage, containment and discretion for ostomy patients. They prevent leaks and enable people to maintain an active lifestyle after bowel or bladder surgery. The pouches come in different sizes, material and shapes to suit individual needs. Some have features like filters that reduce odor and filters that allow softening of waste. Belt and tapes secure the pouch firmly against the skin. This ensures it does not cling or slip. They are designed for physical comfort and peace of mind.
The global Ostomy Care Accessories Market is estimated to be valued at US$ 3.69 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the ostomy care accessories market is the growing demand for customized and aesthetic products. Previously, pouches and accessories came in limited options but now manufacturers are launching varied styles, designs and discreet looks. This is helping remove social stigma and boosting self-confidence among young ostomates. Demand for two-piece systems is also rising as they provide flexibility in independently changing the pouch or flushable discs/bases. Technology advancements like hydrocolloid adhesives, clip-free closure systems and filters are further enhancing product performance. Research on biodegradable materials and innovations to reduce production costs will expand market opportunities going forward.
Porter’s Analysis
Threat of new entrants: The ostomy care accessories market requires extensive knowledge and expertise which makes it difficult for new players to enter. However, growing market demand provides opportunities.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established brands for buyers to choose from.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to standardized production processes and availability of substitutes.
Threat of new substitutes: Threat from new substitutes is low as ostomy care accessories have few close substitutes due to their targeted functioning.
Competitive rivalry: The market is competitive with major brands differentiating based on innovative product features.
Key Takeaways
The global Ostomy Care Accessories Market Demand is expected to witness high growth over the forecast period. North America is currently dominating the market owing to increasing geriatric population and growing cases of Crohn’s disease and colorectal cancer in the region.
Europe holds the second largest market share due to growing awareness among people and better reimbursement policies for ostomy care procedures. With improving healthcare infrastructure and rising medical tourism, Asia Pacific is expected to be the fastest growing region in the ostomy care accessories market.
Key players operating in the ostomy care accessories market are Coloplast Corp, ConvaTec Inc., Hollister Incorporated, Marlen Manufacturing & Development Company, Perma-Type Company, Inc., Nu-Hope Laboratories, Inc., Perfect Choice Medical Technologies, Fortis Medical Products, Safe n’ Simple, AdvaCare Pharma, Schena Ostomy Technologies, Inc., Cymed, and TG Eakin Limited. The market is dominated by global players like Coloplast and ConvaTec.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
