Surge in Bowel and Bladder Cancer Cases to Bolster Ostomy Care Demand: Fact.MR
Burgeoning cases of urinary and bladder cancer is spurring researchers to verify and reintroduce new innovations for the ostomy care treatment
Fact.MR, Rockville MD: Award winning market research company Fact.MR has conducted a study on the global ostomy care market for the upcoming decade. Fact.MR study forecasts, the market is set to expand at a moderate pace in 2021 and beyond. The study further projects that Ostomy care sales are expected to prevail owing to the rise in prevalence of diseases such as bowel cancer and urinary tract cancer.
Growing geriatric population and preference amid the adults for ostomy drainage system during surgeries and investments in healthcare sector is aiding the growth of Ostomy care. According to the study, ostomy pouches are acquiring bulk market shares. Relaxation in reimbursement policies as well as growing awareness for the ostomy surgeries. Hence, advancing the sales of ostomy care.
For instance, according to the American Cancer Society, rising prevalence of bladder and urinary tract disease is estimated among 47% of the U.S. population, among which 90% of people are diagnosed with bladder cancer who undergo ostomy surgery. Hence, fostering the sales.
“The Fact.MR study projects that ostomy two piece pouches are the most viable and improved substitute to the traditional variants, hence the manufacturers are focusing on developing high-performance quality ostomy care pouches to foster the sales,” says the Fact.MR analyst.
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- Ostomy pouches are the most sought after product, accounting for 80% of market share
- India and China to witness higher growth attributed to the rising cases of ostomy surgeries
- U.S. to be a lucrative market owing to the rise in geriatric population and well-established healthcare infrastructure
- By type, Colostomy to prevail over other domains through 2029
- Two piece ostomy pouch preferred over one piece
- Cancer and inflammatory bowel disease to be the most prominent indication
- Growing medical tourism and rising geriatric population to drive the market growth
- Rising awareness programs to educate the patients about ostomy products is aiding the demand of ostomy care
- Spike in number of ostomy surgeries for cases such as bladder cancer and bowel cancer to surge the sales
- Discomfort related to the ostomy bags and growing adoption of alternate treatments is hampering the growth
- Disparities in reimbursement policies of ostomy treatment to create a challenge for the market growth
Discover more about the ostomy care market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4062/ostomy-care-market
Key Ostomy care market players profiled by Fact.MR include B. Braun Melsungen AG, ConvaTec Inc., Coloplast A/S, ALCARE CO. LTD., Peak Medical Ltd., Marlen Manufacturing, Nu-Hope Laboratories Inc., and Torbot Group Inc.among others. According to the Fact.MR analysis, with the new market entrants focusing on launching new ostomy bags, the key players are have shifted the focus in developing the quality of ostomy bags amid the growing competition.
For instance, in March 2021, Hollister collaborated with the Crohn’s & Colitis Foundation to Bring Ostomy Education and Support for Patients with Inflammatory Bowel Disease.
Likewise, in 2020, ConvaTec Group Plc a leading global medical technology company, announced the launch of ConvaMax™ the NEW super absorber dressing distributed by ConvaTec. ConvaMax™ super absorber wound dressing is made for the management of highly exuding wounds, including dehisced surgical wounds from surgeries.
More Insights on the Ostomy care Market
In its latest report, Fact.MR offers an in-depth analysis on the global Ostomy care market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (ostomy pouches, and accessories), ostomy type (colostomy, ileostomy, and urostomy), end user (home care settings, hospitals, ambulatory surgical center, and specialized clinics), indication (cancer, inflammatory bowel disease, bowel obstruction, fecal incontinence, and trauma & infection) and regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
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