PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529906
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529906
Global ostomy care accessories market is estimated to be valued at USD 3.71 Bn in 2024 and is expected to reach USD 5.70 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 3.71 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 6.30% | 2031 Value Projection: | US$ 5.70 Bn |
Global ostomy care accessories market growth is driven by rising prevalence of various chronic diseases resulting in ostomies. An ostomy refers to a surgical procedure where a part of the intestinal or urinary tract is diverted through an abdominal wall in order to connect an artificial opening. Post such procedures, ostomy care accessories play a vital role in managing ostomies and helping patients lead a normal life. Some of the commonly used accessories include ostomy bags, belts & tapes, skin barriers & paste, irrigation sets and stoma caps. Growing geriatric population who are more prone to medical conditions requiring ostomies can drive the market growth. Moreover, increasing awareness about ostomy care products and various options available can drive the market growth globally.
Global ostomy care accessories market growth is driven by rising incidence of inflammatory bowel disease, colorectal cancer and other chronic ailments which often necessitate ostomy surgery. According to the United Ostomy Associations of America, Inc, over 725,000 people had ostomy surgery in the U.S. Growing risk of these medical conditions with age can drive the growth. However, social stigma associated with ostomy bags and lack of awareness in developing nations can hamper the market growth. Technological advancements in ostomy products with emphasis on enhance comfort, discretion and visual appeal offers lucrative opportunities for the market players. Various new product launches catering to different body types, lifestyles and climate conditions can drive the market growth.
Detailed Segmentation-