Latin America Ostomy Devices Market By Type (Products, Accessories), End User (Hospital, Clinics, Ambulatory Centres, Homecare, Others), Distribution Channel (Direct, Sales Retail, Online), Country (Brazil, Mexico, Argentina, Colombia, Perú, Chile, Ecuador, Bolivia, República Dominicana, Paraguay, Nicaragua, El Salvador, Costa Rica, Panama, Uruguay, Venezuela, Rest of Latin America) Industry Trends & Forecast to 2027.
Market Analysis and Insights: Latin America Ostomy Devices Market
Latin America ostomy devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 4.45% in the forecast period of 2020 to 2027 and is expected to reach USD 112,249.78 thousand by 2027. Increasing prevalence of bladder cancer, bowel cancer, and inflammatory bowel diseases and increasing geriatric population are the major drivers which propelled the demand of the market in the forecast period.
Ostomy devices comprises features such as advancement in the technology of ostomy treatment will impact in launching of new product by the manufactures into the market which enhances its demand as well as increasing awareness about diagnosis and treatment of the disease have enhanced the demand of ostomy devices. Currently various research studies are taking place which is expected to create a competitive advantage for manufacturers to develop new and innovative and advanced ostomy devices which expected to provide various other opportunities in the ostomy devices market . However, side effects and restrictions associated with ostomy device and unmet medical needs expected to restraint the market growth in the forecast period of 2020 to 2027.
The Ostomy Devices Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
Latin America Ostomy Devices Market Scope and Market Size
Ostomy devices market is segmented on the basis of type, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the market has been segmented into products and accessories. In 2020, products segment is dominating the market with the largest market share due to large number of ostomy bags are used after different types of ostomy surgeries such as ileostomy, colostomy and urostomy.
- On the basis of end user, the market is segmented into the market is segmented into homecare, hospital, clinics, ambulatory centres and others. In 2020, homecare segment is dominating the market as patients which undergo different ostomy surgeries use ostomy bags on regular basis and this can be performed conveniently through self-administration by patients at their home.
- On the basis of distribution channel, the market is segmented into direct sales retail, others. In 2020, retail segment is dominating the market as patients get their desired ostomy bags easily available at retail shops. This is why there is an increase demand of retail purchasing of ostomy products among patients.
Ostomy Devices Market Country Level Analysis
The ostomy devices market is analyzed and market size information is provided by type, end user and distribution channel. .
The countries covered in the ostomy devices market report are the Brazil, Mexico, Argentina, Colombia, Perú, Chile, Ecuador, Bolivia, República Dominicana, Paraguay, Nicaragua, El Salvador, Costa Rica, Panama, Uruguay, Venezuela, Rest of Latin America.
Brazil is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing prevalence of different type of cancer such as bladder cancer, inflammatory bowel disease, and bowel cancer along with this maximum number of major market players such as Coloplast Corp, Convatec Inc. are operating in this region as well as favorable reimbursement policies for ostomy care present. Mexico is also dominating the Latin America ostomy devices market due to availability of large number of homecare facilities and retail sales facility. In Latin America other dominating country is Argentina due to increasing geriatric population as geriatric population are more prone to stoma problems and undergoes ostomy surgeries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Geriatric Population and Favorable Reimbursement Policies for Ostomy Devices
Ostomy devices market also provides you with detailed market analysis for every country growth in ostomy industry with ostomy devices sales, impact of advancement in the ostomy devices and changes in regulatory scenarios with their support for the ostomy devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Ostomy Devices Market Share Analysis
Ostomy devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to ostomy devices market.
The major companies which are dealing in the ostomy devices are Coloplast Corp, ConvaTec Inc. (A Subsidiary of Convatec Group PLC), Hollister Incorporated, B. Braun Melsungen AG, 3M, Smith &+ Nephew.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the ostomy devices market.
For instance,
- In July 2019, Coloplast corp announced the launch of two new products in SenSura Mio Family which are SenSura Mio baby and SenSura Mio kids. These products are designed for babies ostomy care. This product launch will help the company to provide extensive product portfolio in ostomy care.
- In January 2017, Convatec Group Plc announced the launch of Esteem Flex convex one piece system.
This product is designed for patients having ileostomies, colostomies and urostomies. This launch helped the company to increase demand from pilot markets as a response from health care professionals and consumers.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the market in the ostomy devices which also provides the benefit for organization to improve their offering for ostomy devices.
Customization Available: Latin America Ostomy Devices Market
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