Stoma Care Market

Coloplast Corp (Denmark) and ConvaTec Inc. (England) are Leading Players in the Stoma/Ostomy Care Market

The global stoma/ostomy care market is expected to reach USD 3.2 billion by 2026 from an estimated USD 2.6 billion in 2021, at a CAGR of 4.3% from 2021 to 2026.

Ostomy is a surgical procedure that involves the removal of diseased portions of the gastrointestinal or urinary system, creating an opening in the abdominal wall that results in the external diversion of feces and urine. An ostomy may be permanent or temporary, and each procedure results in a stoma, which is the end of the small or large intestine that can be seen protruding through the abdominal wall. The market scope includes ostomy bags/pouches and accessories utilized by ostomates or patients undergoing colostomy, ileostomy, and urostomy.

To know about the assumptions considered for the study download the pdf brochure

The increasing target patient population, rising geriatric population, a growing number of awareness programs, and product development efforts are some factors driving the growth of this market. However, discomfort and other issues associated with the use of ostomy bags, social stigma, complications, and the growing adoption of alternative treatments are limiting the growth of this market.

The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2018–2020 to expand their global presence and increase their market shares in the stoma/ostomy care market. The key growth strategies adopted by the top players in the market include product launches, expansion, mergers & acquisitions, collaborations, partnerships, and agreements. Product launches and expansion were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. The stoma/ostomy care market is dominated by Coloplast Corp (Denmark), Hollister Incorporated (US), B. Braun Melsungen AG (Germany), ConvaTec Inc. (England), Salts Healthcare (UK), and Welland Medical Limited (UK),

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. The company also focuses on expanding its market presence through M & M&A, product launches, and contracts activities. For instance, in 2021, Coloplast opened its first factory in Central America in Costa Rica.

ConvaTec is among the leading players in the stoma/ostomy care market. Its major competitors are Coloplast and Hollister. ConvaTec markets a comprehensive product portfolio of ostomy systems and accessories to address customer needs and preferences. Its ability to tailor its services to the needs of individual markets and deploy innovative models gives it an edge over its competitors. Collaborating with technology leaders and strengthening investor engagements can help ConvaTec expand its manufacturing units to increase its production capacity.

Emerging markets such as China and India offer significant growth opportunities in the forecast period. Developing the accessories market and leveraging the direct-to-consumer (DTC) marketing channel are other opportunity areas that could benefit the company. In 2021, ConvaTec entered a three-year contract for ostomy care products with Vizient, which is expected to drive its market share.

Related Reports:

Stoma/Ostomy Care Market by Product (Bags (Surgery Type (Ileostomy, Colostomy, Urostomy), System (One, Two-Piece), Usability (Drainable, Closed), Shape (Flat, Convex)), Accessories (Powder, Deodorant)), End User and Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Stoma Care Market Size,  Share & Growth Report
Report Code
MD 4433
RI Published ON
1/10/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status