Stoma Care Market Share, Revenue, Covid-19 Impact on Industry, Growth Rate, Vendor, Market Dynamics and Forecast Upto 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, 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.

Stoma Care Market Growth & Trends

The global stoma care market size is expected to reach USD 785.6 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. 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 45.6% 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 1.93 million cases due to colorectal cancer. Although it is more prevalent in adults aged 50 and older, however, the incidence rate has increased by 2.2% annually in individuals younger than 50 years.

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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.

Stoma Care Market Report Highlights

In terms of revenue, the others segment held the largest revenue share in 2020. The rising number of ostomies across the globe is the major factor propelling the segment growth
The colostomy segment held the largest revenue share in 2020 and is expected to witness a considerable growth rate over the forecast period due to the increasing prevalence of colon cancer
The home care settings segment held the largest revenue share in 2020. The segment growth is majorly driven by the outbreak of COVID-19 across the globe and the patients opting for homecare services
In Asia Pacific, the market is anticipated to witness the fastest growth rate over the forecast period due to the adoption of advanced technologies required for stoma care, high population base, and rising awareness about ostomy care

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Stoma Care Market Segmentation

Grand View Research has segmented the global stoma care market on the basis of product, application, end-use, and region:

Stoma Care Product Outlook (Revenue, USD Million, 2016 – 2028)

Closed Bags
Open/ drainable Bags
One-piece Bags
Two-piece Bags
Others

Stoma Care Application Outlook (Revenue, USD Million, 2016 – 2028)

Colostomy
Ileostomy
Urostomy

Stoma Care End-use Outlook (Revenue, USD Million, 2016 – 2028)

Home Care Settings
Hospitals
Others

Stoma Care Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
Germany
U.K.
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia

List of Key Players of Stoma Care Market

Coloplast
B. Braun Melsungen AG
Hollister Incorporated
ConvaTec Inc.
Salts Healthcare
Welland Medical Limited

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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