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The ostomy products market size is valued to increase by USD 1.1 billion, at a CAGR of 5.25% from 2023 to 2028. Rising number of chronic diseases and older population will drive the ostomy products market.
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The ostomy products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The colostomy bags segment is estimated to witness significant growth during the forecast period.
The market is experiencing steady growth due to the rising number of ostomy patients, primarily driven by the increasing incidence of ostomy surgeries for conditions such as colorectal cancer and inflammatory bowel syndrome. According to market research, the colostomy bags segment is projected to expand at a significant rate during the forecast period, with an estimated 5% annual growth rate. This growth can be attributed to several factors, including heightened awareness about colorectal health, increased availability of government-funded healthcare programs for older populations, and the convenience and affordability of colostomy bags. In response to evolving patient needs, the ostomy products industry continues to innovate, offering a diverse range of products such as irrigation systems, ostomy belts, ostomy rings, stomahesive paste, two-piece systems, skin protectants, urostomy and colostomy pouches, drainable pouches, ostomy appliance removal tools, ostomy care products like wipes and powders, ostomy education materials, ostomy filters, deodorants, and various support groups and rehabilitation programs.
These advancements aim to improve patient comfort, prevent leakage, and manage complications, ensuring optimal stoma care for individuals living with ostomies.
The Colostomy bags segment was valued at USD 1.3 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 45% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth due to the increasing number of individuals undergoing ostomy procedures as a result of conditions such as colorectal cancer and Crohn's disease. North America, with its advanced medical facilities and high prevalence of these conditions, is currently the largest market for ostomy products. In 2023, this region accounted for over 40% of the global market share. Major manufacturers, primarily based in the US, are focusing on technological advancements to improve surgical procedures and develop more efficient ostomy bags and accessories.
Exports of ostomy products, including colostomy and ileostomy bags, have also risen in response to the region's aging population. This trend is expected to continue, as the elderly population in North America is projected to increase by over 35% by 2030.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market caters to individuals with ostomies, offering a range of solutions to manage the unique challenges that come with living with an ostomy. Ostomies require meticulous care to ensure effective output management and prevent skin irritation. Choosing the appropriate ostomy appliance and skin barriers is crucial, as is employing effective pouch emptying techniques. The importance of regular stoma care cannot be overstated, as diet plays a significant role in ostomy output. Different types of ostomy skin barriers are available to minimize irritation, while dealing with leaks can be managed through various methods. Ostomy belts and rings offer benefits such as improved appliance adherence and enhanced comfort. Reducing odor from ostomy appliances is essential, and several methods and products are available to address this concern. Managing ostomy complications and issues is a priority, and numerous resources and support systems are accessible to help. Best practices for appliance changes include careful selection criteria for skin protectants and effective methods for stoma hygiene. Maintaining healthy peristomal skin is vital, and various ostomy irrigation systems provide options for those requiring more extensive care. The market offers a variety of ostomy appliances and systems, each with unique features and benefits. Understanding the specific needs of each individual and consulting with healthcare professionals is essential when selecting the most suitable products. Effective communication between patients, healthcare providers, and manufacturers is crucial in ensuring optimal ostomy care and overall well-being.
The ostomy products market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the ostomy products market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Ostomy Products Industry
Companies are implementing various strategies, such as strategic alliances, ostomy products market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
3M Co. - This company specializes in manufacturing ostomy products, including StayDry colostomy bags. Two types are available: one-piece and two-piece designs. The one-piece bag is a self-adhesive system, while the two-piece design features a separate wafer and pouch. Both options ensure optimal comfort and protection for individuals requiring ostomy care.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Ostomy Products Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.25% |
Market growth 2024-2028 |
USD 1095.71 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.85 |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Ostomy Products Market between 2024 and 2028?
USD 1.1 billion, at a CAGR of 5.25%
What segmentation does the market report cover?
The report is segmented by Product (Colostomy bags, Ileostomy bags, Urostomy, and Ostomy care accessories), End-user (Healthcare settings, Retail stores, and Homecare settings), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Which regions are analyzed in the report?
North America, Europe, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Rising number of chronic diseases and older population, High cost of ostomy procedure and products
Who are the major players in the Ostomy Products Market?
3M Co., AdvaCare Pharma, ALCARE Co. Ltd., B.Braun SE, Coloplast AS, ConvaTec Group Plc, CYMED, Flexicare Group Ltd., Fortis Medical Products, Henkel AG and Co. KGaA, Hollister Inc., Marlen Manufacturing & Development Co., Nu Hope Laboratories Inc., Perfect Choice Medical Technologies, Perma-Type Company Inc., Safe n Simple LLC, Salts Healthcare Ltd., Schena Ostomy Technologies Inc., TG Eakin Ltd., and Torbot Group Inc.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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