Seattle, WA -- (SBWire) -- 12/08/2016 --The report "Stoma Care/Ostomy Care and Accessories Market (Procedure (Colostomy, Ileostomy, Urostomy, Bags (One-Piece, Two-Piece, Drainable, Re-usable), Accessories (Paste & Powder, Cream, Cleanser, Deodorant) & End Users) - Global Forecast to 2021", The market for stoma care/ostomy care is valued at an estimated USD 2.62 Billion in 2016 and expected to grow at a CAGR of 5.4% between 2016 and 2021 to reach USD 3.41 Billion by 2021.
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The major factors driving the growth of this market are the increase in the aged population; rise in the number of ostomy surgeries due to the rising incidence rate of bowel/bladder cancer and Crohns disease; rise in awareness towards ostomy care products; and technological advancements. On the other hand, unstable reimbursement systems are expected to restrain the growth of this market during the forecast period.
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Based on product, the ostomy care market is segmented into bags and accessories. Of these, ostomy bags are expected to command the largest share of the ostomy care market in 2016, while ostomy accessories are expected to grow at the highest CAGR between 2016 and 2021.
The ostomy care bags market is segmented (based on procedures) into colostomy bag, ileostomy bag, urostomy bag, continent ileostomy bag, and continent urostomy bag. In 2016, the colostomy bags segment is expected to account for the largest share of the market.
The ostomy care accessories market is segmented into pastes and powders, creams, cleansers, deodorants and others (alcohol wipes and ostomy bags). In 2016, the pastes and powders segment is expected to account for the largest share of the ostomy care accessories market.
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Based on end user, the ostomy care market is segmented into hospitals, ambulatory surgical centers, and homecare settings. The homecare settings segment is expected to command the largest share of the ostomy care market in 2016; moreover, this segment is also expected to witness the highest growth in the end-user market.
Based on geography, the ostomy care market is segmented into Asia, Europe, North America, and Rest of the World (RoW). Europe is expected to command the largest share of the global ostomy care market in 2016. However, the market in Asia is expected to witness the highest growth during the forecast period.
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Stoma Care/Ostomy Care & Accessories Market Set to Be Worth 3.41 Billion USD by 2021
The key players in the ostomy care market are Coloplast (Denmark), ConvaTec (U.S.), Hollister (U.S.), B. Braun (Germany), Alcare (Japan), Marlen Manufacturing (U.S.), 3M (U.S.), Smith & Nephew (U.K.), and Nu-Hope Laboratories (U.S.).