The Global Ostomy Market consists of different international, regional, and local vendors. The market competition is foreseen to grow higher with the rise in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
Ostomy is an opening surgery from the abdomen for the removal of the waste of body. An ostomy can be temporary or permanent depending upon the medical requirement. Conditions that require ostomy surgeries include cancer, trauma, inflammatory bowel disease, infection, fecal inconsistence and diverticulitis. Ostomy is classified into three types namely colostomy, ileostomy and urostomy. The market for ostomy is commonly called ostomy care and includes ostomy bags and accessories.
Colostomy segment contributed significantly in the growth of ostomy market due to rise in awareness of ostomy care products and increased spending on health. Rising patient volume was attributable to increasing survival rate of bladder cancer patients as they require continuous ostomy care.
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Europe is the main contributor to the ostomy market with technological advancements and increasing cases of urinary bladder cancer and ageing population. The U.S. has great potential in the years ahead with rising awareness about treatment options of ostomy. In addition, favorable reimbursement policies would help in fuelling the market growth for ostomy in this region.
The global ostomy market is expected to grow in future due to increasing ageing population, rise in health care expenditure, growing online sales, increasing life expectancy and rising prevalence of inflammatory bowel diseases. Key trends of this market include healthy reimbursement landscape of developed countries, launch of new products and awareness regarding ostomy treatments. However, there are some factors which can hinder the growth of ostomy market which includes reimbursement system in emerging countries and complications related to ostomy bags.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The report Global Ostomy Market: Industry Analysis & Outlook (2017-2021) analyses the development of this market, with focus on North America and Asia Pacific markets. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: PPG Industries Inc., Sherwin-Williams, AkzoNobel and Axalta Coating Systems are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global Ostomy market along with the study of the regional markets.
The report “Global Ostomy Market: Industry Analysis & Outlook (2017-2021)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering Europe and North America region along with the global market. The report profiles the key players of the market including Coloplast, ConvaTec, B.Braun and C.R. Bard.
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