U.S. Stoma/Ostomy Care Market, By End User Setting (At Home Care, Hospitals, Nursing Homes, Old Age Care Settings), Point of Sale (Pharmacies, Mail Order Companies, Medical Surgical Supply Houses, E-Pharmacy) Industry Trends and Forecast to 2029.
Market Analysis and Insights : U.S. Stoma/Ostomy Care Market
U.S. stoma/ostomy care market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.4% in the forecast period of 2022 to 2029 and is expected to reach USD 2,641.02 million by 2029. The rise in FDA approval and the presence of major market players are rising the market growth. The rising government investments with the rising awareness among the population can give the market an opportunity to enhance the treatment.
Ostomy or stoma is a surgery to create an opening (stoma) from an area inside the body to the outside. It treats certain diseases of the digestive or urinary systems. It can be permanent when an organ must be removed. It can be temporary when the organ needs time to heal. The increase in the geriatric population and rise in prevalence of bowel and bladder cancer may accelerate the growth of the market. The adaptation of advanced technologies in the industry has been stimulated market growth. Consequently, the growing demand for stoma/ostomy care in health care is likely to drive the market growth in the projected period.
Increasing prevalence of bladder cancer, bowel cancer, and inflammatory bowel diseases and Favorable reimbursement policies for ostomy care products are helping the growth of stoma/ostomy care market. The technological advancements in ostomy devices and products are further boosting the market growth. The Side effects and restrictions associated with ostomy is restraining the stoma/ostomy care market growth. Increasing awareness about diagnosis and treatment of the disease and strategic initiatives by key market players acts as an opportunity for the stoma/ostomy care market. Unfavorable psychological and emotional impact of ostomy/stoma acts as challenge for the stoma/ostomy care market growth.
The stoma/ostomy care 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, geographic expansions, and technological innovations in the market. To understand the analysis and the stoma/ostomy care market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Stoma/Ostomy Care Market Scope and Market Size
The stoma/ostomy care market is segmented into two notable segments based on end use setting and point of sale. 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.
The U.S. stoma/ostomy care market is categorized into two segments based on end use setting and point of sale.
- On the basis of end use setting, the U.S. stoma/ostomy care market is segmented into at home care, hospitals, nursing homes, old age care settings. In 2022, at home care setting segment is expected to dominate the U.S. stoma/ostomy care market due to increase in geriatric population in the U.S.
- On the basis of point of sale, the U.S. stoma/ostomy care market is segmented into pharmacies, mail order companies, medical surgical supply houses, and E-pharmacy. In 2022, the pharmacies segment is expected to dominate the U.S. stoma/ostomy care market with the increasing technological advancement and healthcare expenditure by government across the U.S.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Stoma/Ostomy Care is Boosting the Market Growth of Stoma/Ostomy Care Market
The stoma/ostomy care market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2020.
Competitive Landscape and Stoma/Ostomy Care Market Share Analysis
Stoma/ostomy care 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 stoma/ostomy care market.
Some of the major companies which are dealing in the stoma/ostomy care are Hollister Incorporated, ConvaTec Inc., Coloplast Corp, B. Braun Melsungen AG, 11 Health and Technologies, Inc., 3M, Cymed Micro Skin, Nu-Hope Laboratories, Inc., Smith+Nephew, ALCARE Co., Ltd., Marlen Manufacturing & Development Company., Flexicare (Group) Limited, Schena Ostomy Technologies, Inc., PERMA-TYPE COMPANY, INC. Torbot Group, Inc., Triad Medical, LLC, Safe n' Simple., Tytex A/S, North American Latex Corporation., Genesis Plastics Welding, Austin Medical Products, Inc., Trio Ostomy USA, among others domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the stoma/ostomy care market.
For instance,
- In March 2021, Hollister Incorporated made a contract agreement with Vizient Inc., a leading healthcare improvement company. This agreement will allow accessibility of all Hollister’s ostomy products to Vizient Inc. members. This helped company in enhancing their vision of making the wide reach of their products
- In March 2021, ConvaTec Group PLC. Has made a contract agreement with Vizient Inc., a leading healthcare improvement company. This agreement will allow accessibility of all ConvaTec ostomy products and the ME+ support program to Vizient Inc. members. This helped company in enhancing their vision of making the wide reach of their products
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the stoma/ostomy care market which also provides the benefit for organization’s profit growth.
SKU-