Market Definition
An ostomy is a surgical procedure that facilitates the removal of waste materials by creating an artificial opening in the abdomen of the patients. Depending on the ostomy types, namely colostomy, ileostomy, and urostomy, an organ is connected to the opening of the abdomen, also known as stoma, for the elimination of body wastes.
Market Outlook
Rapid technology advancements in ostomy care products, along with the growth of medical tourism due to the varying costs of bowel cancer and other disease treatment, are the key trends stimulating the overall market expansion. For example, OstomyCure AS has deployed the latest 3D technology in manufacturing its TIES III Solution, designed to help minimize skin complications and promote reliable tissue ingrowth for ostomy patients. Moreover, Several initiatives are being undertaken by various nonprofit organizations and private players to raise awareness regarding stoma care, globally. For instance, European Ostomy Association organizes World Ostomy Day (WOD) each year. It aims at improving the rehabilitation of ostomates worldwide by bringing them together. Many associations organize activities to raise awareness, such as educational programs, support meetings, and electronic information networks.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
Based on surgery, it is segmented into ileostomy, colostomy, and urostomy. The ileostomy segment accounted for the largest share of the global stoma/ostomy care market in 2021. This is due to the rising prevalence of Inflammatory Bowel Diseases (IBDs) such as Crohn’s disease and ulcerative colitis. According to the Crohn’s Colitis Foundation’s 2019 report, roughly 1.6 million Americans suffer from IBD and 70,000 new cases are identified each year. Furthermore, according to the WHO report of 2016, the global prevalence of colostomies, ileostomies, and urostomies was 43.0%, 41.0%, and 18.0%, respectively. Such scenario expected to contribute to the growth of the segment during the projected period,
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Major Players
The key players in the market are 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), Cymed Micro Skin (US), Marlen Manufacturing & Development Company (US), and among others
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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