PUBLISHER: Grand View Research | PRODUCT CODE: 1375975
PUBLISHER: Grand View Research | PRODUCT CODE: 1375975
The global ostomy care and accessories market size is expected to reach USD 5.31 billion by 2030, registering a CAGR of 5.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Increasing prevalence of colorectal and bladder cancer, technological advancements, increasing demand for sterile products in various healthcare, and homecare settings coupled with the rise in geriatric population are key contributors to the market growth.
Advancements in product technology such as improved adhesive systems and innovative pouch designs by various key manufacturers through different strategic initiatives will further drive the market growth. For instance, in March 2021, Colplast has been awarded a contract for ostomy products with Vizient, Inc. Through this agreement Vizient members will get easy access with contracted pricing to Coloplast's full product portfolio of ostomy products, including bags and accessories like barrier rings, stoma caps, pouch covers, and other accessories. Furthermore, this agreement will strengthen the company presence across healthcare organizations, and hospitals. Additionally, this further enable them to provide their services and products to large number of users in the U.S. Due to such activities the demand for ostomy care and accessories will increase in near future.
Some of the companies operating in the U.S. ostomy care & accessories market are Coloplast, Hollister Incorporated, Convatec Group, among others. These companies offer a wide range of products, consumables, and compete based on factors such as product quality, pricing, innovation, & distribution networks.