by Ostomy care accessories assist individuals who have undergone ostomy surgery to manage waste output from their artificially diverted body parts. Ostomy accessories include ostomy bags, irrigation sets, belts & tapes, skin barriers, stoma caps, and lubricants. These accessories provide comfort, security, and discretion to ostomates. Ostomy care accessories allow ostomates to maintain a healthy self-image and quality of life. The rising prevalence of inflammatory bowel disease, colorectal cancer, and other conditions necessitating ostomy surgery has augmented the demand for ostomy care accessories. The global ostomy care accessories market is estimated to be valued at US$ 4.26 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing adoption of ostomy surgeries is expected to drive the ostomy care accessories market over the forecast period. According to the United Ostomy Associations of America, Inc. (UOAA), it is estimated that over 750,000 people in the US have an ostomy. Furthermore, it is projected that over 235,000 new ostomies are performed each year in the US. Colorectal cancer, inflammatory bowel disease, and another conditions are some of the leading causes of ostomies. Thus, the surging prevalence of these conditions will increase the demand for ostomy accessories.
The rising discretion about ostomy is another factor expected to boost market growth. Ostomy accessories allow ostomates to manage waste output from their artificially diverted digestive or urinary tract discreetly. This improves confidence and quality of life. Thus, the increasing adoption of accessories is anticipated owing to the enhanced lifestyle benefits offered.
Segment Analysis
The global Ostomy Care Accessories market is segmented into product type and end user. Based on product type, the ostomy care accessories market is segmented into pouches, accessories and belts and others. Among these, pouches segment dominates the market with over 60% share owing to high demand and usage. Pouches are easy to use and provide discretion and mobility to ostomates.
PEST Analysis
Political: The government regulations promote Ostomy care products usage which helps increase awareness. Various initiatives aim to improve quality of life of ostomates.
Economic: Rising healthcare spending and disposable income boost market growth. Developed regions account for major share due to strong reimbursement policies.
Social: Growing aging population and increasing incidence of IBD and colorectal cancer drive market growth. Support groups create awareness and acceptance of condition in society.
Technological: Advanced adhesive and filter technologies help develop skin-friendly and odor-control pouches. Digital platforms aid virtual consultations and support.
Key Takeaways
The global Ostomy Care Accessories Market is expected to witness high growth at a CAGR of 10% during the forecast period of 2024 to 2031. The market size is projected to reach US$ 4.26 Bn by 2024.
Regional analysis:
North America dominates the market owing to availability of advanced products and awareness. Europe follows due to well-established reimbursement policies easing product adoption. Asia Pacific is expected to witness fastest growth with improving access in developing countries.
Key players operating in the Ostomy Care Accessories market are PPG Industries (US), Sherwin-Williams Company (US), Kukdo Chemical Co., Ltd. (South Korea), Nukote Coatings Systems (US), and VIP GmbH (Germany). Key players focus on new product launches and expansion in emerging regions to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
