Ostomy Products Market size to grow by USD 1.10 billion from 2023 to 2028; North America to account for 45% of market growth- Technavio
NEW YORK, Dec. 18, 2023 /PRNewswire/ -- The ostomy products market is expected to grow by USD 1.10 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 5.25% during the forecast period, according to Technavio Research. The market 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)). North America accounts for 45% of the market growth during the forecast period. The increasing number of people with colorectal cancer and Crohn's disease is fuelling the demand for ostomy procedures, which, in turn, drives the demand for ostomy products such as colostomy and ileostomy bags and accessories. Hence, such factors are driving the market growth in North America. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read the Free PDF Sample Report
Company Profile:
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.
ALCARE Co. Ltd: The company offers ostomy products for digestive ostomy appliances and urinary ostomy appliances.
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- The market share growth by the colostomy bags segment is significant during the forecast period. Factors such as the increasing number of people with colorectal cancer and inflammatory bowel syndrome.is contributing to the growth of this segment. In addition, the growing awareness about colorectal cancer, government-funded regular health check-ups for the older population, and the easy availability of colostomy bags is fuelling the growth of this segment, which in turn drives the market growth.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2018 to 2022"- Technavio
Ostomy Products Market: Driver & Trend:
- Rising strategic alliances among companies drive market growth. There is an increase in awareness about diseases and their treatment among manufacturers due to partnerships with educational and disease-management organizations, ostomy care service organizations, and universities. Hence, such partnerships are driving the market growth during the forecast period.
- Rising number of chronic diseases and the older population
- Growing adoption of ostomy bags
The increasing focus of companies on fashionable products is a primary trend in the market. Several companies including C and S Ostomy Pouch Covers in the market, started offering fashionable pouch covers, embroidered belts, and wraps. Therefore, such fashionable products can help young individuals return to an active lifestyle, which can help to build their self-esteem which is driving the market growth. Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.
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What are the key data covered in this ostomy products market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the ostomy products market between 2023 and 2028.
- Precise estimation of the ostomy products market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the ostomy products market in North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of ostomy products market vendors.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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