The Ostomy Care Bag Market experienced significant growth in 2020 and is projected to maintain a steady revenue compound annual growth rate (CAGR) throughout the forecast period. The market's expansion is driven by key factors such as colostomy, urostomy, and ileostomy, which are surgeries performed on patients based on the severity of their diseases. These surgeries are commonly conducted on individuals with inflammatory bowel diseases (IBD), infections, intestinal cancer, or damage to specific body parts, among other conditions. During these procedures, a stoma, a surgically created opening, is made in the lower part of the abdomen to facilitate the passage of feces from the urinary system or the intestine. An external accessory, such as a pouch or bag, is then placed outside the body to collect the waste.
Factors Contributing to the Growth of the Global Ostomy Care Bag Market: The growth of the global ostomy care bag market is driven by several factors. The increasing prevalence of inflammatory bowel disease (IBD), growing public awareness of ostomy care, rising cases of colorectal cancer, and the availability of treatment equipment in the market are among the major drivers. Additionally, the fixed reimbursement policies of private and public organizations also play a crucial role in fueling the growth of the ostomy care market. However, certain factors such as the risks associated with surgery, post-hospital treatment complications, and the negative emotional and mental impact of having a stoma or ostomy can hinder the expansion of the global market.
Get a free sample PDF of the report, visit @ https://www.reportsanddata.com/download-free-sample/4677
Factors Restraining the Growth of the Global Ostomy Care Bag Market: The growth of the global ostomy care bag market is significantly hampered by several unfavorable factors. The deteriorating socio-economic conditions in developing nations, lack of reimbursement for ostomy care bags, postoperative complications, high risks associated with ostomy surgeries, and the negative mental and emotional impact of ostomy or stoma procedures are expected to impede the growth of the market. Moreover, the availability of alternatives in the market and a lack of public awareness about ostomy care pose significant barriers to market expansion.
Opportunities for Players Operating in the Global Ostomy Care Bag Market: The global ostomy care bag market presents several opportunities for players in the industry. The market is projected to expand rapidly during the forecast period, primarily driven by increasing patient awareness about the use of ostomy products through education programs. Emerging nations can also improve reimbursement systems, which would serve as another significant growth factor. Furthermore, the growing geriatric population, which leads to an increased number of clients suffering from bladder issues, colorectal cancer, and bowel ostomy surgeries, presents additional opportunities for market expansion. The rise of internet retail for ostomy products and the growth of the healthcare sector in Asian countries are also expected to create new avenues for the stoma/ostomy care market.
Global Ostomy Care Bag Market Revenue Led by Product Type Segment: The stoma or ostomy market can be categorized into closed-end bags, drainable bags, and others based on application or usability.
Leading Application Segment in the Global Ostomy Care Bag Market: The global stoma and ostomy market is segmented into hospitals, home care, clinics, and ambulatory surgical centers based on end-users. The home care segment is expected to drive the growth of this market due to the increasing demand for home healthcare services. Home care services ensure that patients receive ongoing ostomy care from skilled nurses in the comfort of their own homes, reducing the risk of stoma-related complications and emergency room visits. Home ostomy care involves maintaining a healthy stoma, as well as changing and emptying ostomy bags. The growing demand for home care and the availability of trained nurses in both developed and emerging markets are expected to drive this segment over the forecast period, as healthcare facilities are less preferred for ongoing ostomy care.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/4677
North America Accounts for the Largest Revenue Share in the Global Ostomy Care Bag Market: The United States dominates the North American market, primarily due to the increasing prevalence of urinary incontinence and urinary retention, along with a growing elderly population experiencing bladder problems and diverticular diseases. According to the National Association for Continence, individuals over the age of 40 are more likely to suffer from Overactive Bladder (OAB) and urinary urgency. Additionally, the rising incidence of diverticular disease contributes to the growth of the ostomy care market in the United States. Technological advancements in ostomy care products also drive market growth, with the introduction of efficient pouching systems and associated accessories improving the quality of life for ostomy patients. For example, Trio Healthcare introduced Trio Siltac, a silicone-based ostomy seal that protects the skin around the stoma and helps prevent leakage. These developments are expected to drive industry growth in the coming years.
Asia-Pacific Continues to Lead in Terms of Revenue CAGR: The Asia-Pacific region, including China, South Korea, Japan, and India, dominates the ostomy care bag market. The region is considered a developing market for ostomy care due to its growing patient population, presence of developing economies, increasing healthcare expenditure, and a consistently rising population.
Major Companies Profiled in the Report: The report profiles several major companies in the ostomy care bag market, including Coloplast Corp., Braun Melsungen AG, Hollister Incorporated, ConvaTec Group Plc, Welland Medical Ltd., and Salts Healthcare Ltd. It also highlights the strategies and objectives of these companies. For instance, ConvaTec Inc., a global medical solutions company focused on chronic condition therapies, was awarded a contract for Ostomy products with Vizient, Inc. in March 2021. Coloplast A/S completed the acquisition of Nine Continents Medical, Inc., an early-stage company specializing in surgically implanted tibial nerve stimulation therapies for overactive bladder, in November 2020.
Why Our Report Provides Better Insights: Our report offers historical data points, forecasts, and revenue growth at a global, regional, and country level. It provides analysis of industry trends, consumption patterns, and detailed information for each region, major country, and segment from 2018 to 2028. The report includes industry analysis, competitive landscape, company financials, and impact analysis. It offers a comprehensive view of the global market, covering changing dynamics, trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and historical, current, and projected revenues.
Detailed Segmentation in Our Report: The global ostomy care bag market is segmented based on product type, application, and region. The product type segment includes seals/barrier rings, pouch covers, pouch closures, stoma caps/hats, and others. The application segment comprises home care settings, hospitals, and others. The regional outlook covers North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America), and Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa).
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/4677
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse for more reports:
Induced Pluripotent Stem Cells Market
Intranasal Drug and Vaccine Delivery Market
Influenza Drugs And Vaccines Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
