The global ostomy care accessories market is projected to reach USD 2.99 billion by 2022 from USD 2.40 billion in 2017, at a CAGR of 4.5%. Factors such as the high incidence of bladder/colorectal cancer/inflammatory bowel disease; growing number of awareness programs to educate patients regarding the use of ostomy products; and efficient reimbursement system in developed countries are driving the growth of the market. However, unfavorable reimbursement scenarios in most developing countries and discomfort and other issues associated with the use of ostomy bags are expected to restrain the growth of this market.
This research study involves the extensive usage of secondary sources, directories, and databases (such as D&B, Bloomberg Business, and Factiva), in order to identify and collect information useful for this technical, market-oriented, and financial study of the ostomy care market. In-depth interviews were conducted with various primary respondents, including subject-matter experts (SMEs), C-level executives of key market players, and industry consultants to obtain and verify qualitative and quantitative information and to assess market prospects.
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As of 2016, the global ostomy care market was dominated by ConvaTec (UK), Coloplast (Denmark), and Hollister Incorporated (US). Other players involved in this market include B. Braun (Germany), Alcare (Japan), Nu-Hope (US), Marlen (US), Welland Medical (UK), BAO-Health (China), Flexicare Medical (UK), Cymed (US), Schena Ostomy (US), Perma-Type (US), 3M (US), and Smith & Nephew (UK).
Geographically, the ostomy care market is segmented into North America, Europe, Asia, and RoW. The Rest of the World is expected to register the highest growth rate during the forecast period, due to rising patient pool in these countries and on-going positive changes in healthcare infrastructure of countries in this region. However, Europe is expected to command the largest share of the market in 2017 due to the high patient pool and efficient reimbursement structure.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares.
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