Ostomy Care Market - Size, Share, Growth, Emerging Trends, Top 10 Players And Industry Outlook
Summary
- Competitive Strategy, Benchmarking and Demand Trend Analysis.
- In June 2021, Welland Medical Limited launched a new innovative ostomy bag under the brand name Aurum Plus. It is available in both closed and drainable types.
- May 2021, Welland Medical Limited started its new distribution center in Costa Rica with Panamedical de Costa Rica.
This report aims to provide detailed insights into the global ostomy care market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth:
The global stoma/ostomy care market is projected to reach USD 3.2 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 4.3%. The increasing target patient population, growing prevalence of inflammatory bowel diseases, rising geriatric population, growing awareness, technological advancements, and the favorable reimbursement system in developed countries are the major factors driving the growth of this market. However, discomfort and other issues associated with the use of ostomy bags and the growing adoption of alternative treatments are limiting the growth of this market.
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Competitive Landscape :
The competitive landscape includes the analysis of the key growth strategies adopted by major players to expand their global presence and increase their market shares in the market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market.
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Key Market Players:
- Coloplast Corp (Denmark),
- Hollister Incorporated (US),
- B. Braun Melsungen AG (Germany),
- ConvaTec Inc. (England),
- Salts Healthcare (UK),
- Welland Medical Limited (UK),
- Flexicare Group Limited (UK),
- Alcare Co. Ltd. (Japan)
Coloplast is a prominent player in the stoma/ostomy care market. The company’s leading position in this market can be attributed to its strong pipeline of new products, sustained cost discipline, and adoption of new strategies to enhance its product portfolio based on new technologies available in the market. The ostomy care business of the company has witnessed organic sales growth of 6% in 2020 FY. This growth was mainly supported by its SenSura Mio product line in various important markets.
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