Stoma Care Market Size, Share & Trends Analysis Report By Product (Closed Bags, Open Bags, One-piece Bags, Two-piece Bags), By Application (Ileostomy, Colostomy, Urostomy), By End-use Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Stoma Care market gathered revenue around USD 460 Million in 2020 and market is set to grow USD 810 Million by the end of 2027 and is estimated to expand at a modest CAGR of 7.1% during the prediction period 2021 to 2027.

Growth Factors:

The market Increasing cases of colorectal cancer and bladder cancer, Inflammatory Bowel Disease (IBD), adoption of advanced technologies and rising awareness regarding stoma care products are the key driving factors for the market. In addition, the increasing prevalence in the young population is expected to upsurge the demand for stoma care and accessories during the forecast period. The COVID-19 pandemic had a detrimental effect on the market.

Increasing cases of colorectal cancer, inflammatory bowel disease (IBD), increasing adoption of advanced technologies, and rising awareness regarding stoma care products are the key driving factors for the market.

Colorectal cancer is the most common cause of stomas, accounting for about 46.1% of all cases. More than 45.0% of colostomies are performed in ostomy patients aged 60 above, thereby surging the demand for healthcare products. In addition, colorectal cancer is the third most common form of cancer in both men and women. For instance, according to the report published by the World Health Organization (WHO), in 2020,9,35,000 deaths were reported out of 1.97 million cases due to colorectal cancer. Although it is more prevalent in adults aged 50 and older, however, the incidence rate has increased by 2.3% annually in individuals younger than 50 years.

For instance, according to the American Cancer Society, about 1.4 lakh individuals were diagnosed with colorectal cancer in 2020 of which 12.00% were individuals younger than 50. Furthermore, according to the National Center for Biotechnology Information (NCBI), colorectal cancer is the deadliest among males in UAE and deadliest among females in Japan. Therefore, such instances indicate a considerable increase in demand for healthcare products, as it is one of the essential requirements for treating such cases, thereby propelling market growth over the forecast period.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Stoma Care market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Stoma Care market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Stoma Care market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

Europe dominated the stoma care market and accounted for the largest revenue share of 48.1% in 2020. The region is expected to witness considerable growth over the forecast period. Factors such as an increase in the number of stoma patients due to Crohn’s disease and ulcerative colitis or IBD are expected to drive the growth of the market in Europe during the forecast period. In Europe, about 731,000 people live with an ostomy. According to NCBI, IBD comprises Crohn’s disease or ulcerative colitis, and its occurrence in European countries is steadily rising. According to the Journal of Crohn’s and Colitis, the incidence of ulcerative colitis and Crohn’s disease in Europe is increasing every year. It has been estimated that 0.9% of the total population in Europe suffers from IBD. The highest incidence was witnessed in the U.K., while the lowest was seen in eastern and southern Europe. Thus, the increasing incidence of IBD is primarily driving market growth in Europe.

In Asia Pacific, the market is anticipated to exhibit lucrative growth during the forecast period. Several nursing centers in this region arrange a range of programs, including motivational programs and educational seminars, to increase awareness among ostomy patients. According to Asia and South Pacific Ostomy Association (ASPOA), world ostomy day is organized every year to improve the rehabilitation of ostomates by bringing their aspirations and needs to the attention of the general public and the global community. Activities to promote awareness worldwide include seminars, educational programs, support meetings and demonstrations, electronic information networks, magazine announcements, articles and advertisements, and video and audio announcements. Thus, increasing awareness among consumers is boosting the market growth in this region.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Stoma Care Market include:  Coloplast; B. Braun Melsungen AG; Hollister Incorporated; ConvaTec Inc.; Salts Healthcare; Welland Medical Limited.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• By Product
• Closed Bags
• Open/ drainable Bags
• One-piece Bags
• Two-piece Bags
• Others
• By Application
• Colostomy
• Ileostomy
• Urostomy
• By End-use
• Homecare Settings
• Hospitals
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Stoma Care market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Stoma Care market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Stoma Care markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Stoma Care market Study:

• Growth of Stoma Care in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Stoma Care and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Stoma Care Consumption Analysis
•  Stoma Care Production Analysis
•  Stoma Care and Management