Ostomy Care Accessories Market: Overview

Ostomy is a surgical procedure performed to remove waste from the intestines. Ostomy care accessories helps to improve performance of ostomy pouches. They mainly help avoid leakage and prevent odor from these pouches. Some of the commonly used ostomy care accessories are belt, tapes, adhesives, skin protection & skin barriers, irrigation sets, convex inserts, and stoma caps.

Belt, tapes, and adhesives help to hold ostomy pouch on the body. Skin protection and skin barrier accessories are used to protect the sensitive areas and allow water to stick properly. These accessories provide security to patients during regular wear or during activities.

Ostomy Care Accessories Market: Notable Developments

Some of the notable developments in the global ostomy care accessories market are

  • In March 2018, ConvaTec acquired J&R Medical LLC ("J&R Medical"), a Texas-based independent distributor of catheter-related supplies. This will help company to strengthen its market position.
  • In April 2017,  ConvaTec launched a product called  Foam Lite, a  skin-friendly silicone adhesive. It is easy to apply and removes water, and remains non-sticky to gloves or to itself. It is manufactured to help patients undergoing ostomy surgery with better adhesion.

Apart from the above, some of the prominent players operating in the ostomy care accessories market are Coloplast Corp., Hollister Inc.., EuroMed Inc., FNC Medical, 3M, Smith & Nephew, Nu-Hope Laboratories, Inc., Torbot Group Inc and Cymed Ostomy Co

Ostomy Care Accessories Market: Key Growth Dynamics

The global ostomy care accessories market is expected to rise owing to the increasing prevalence of ostomies, growing technological innovation in ostomy care accessories, and rising geriatric population across the globe. Apart from this, rising incidence of gastrointestinal diseases across the globe is expected to increase the demand for ostomy care accessories. This is because ostomy is widely opted by patients to treat gastrointestinal diseases.

According to Center for Disease Control and Prevention (CDC), in 2015, 3 million (1.3%) cases  with IBD (Crohn’s disease or ulcerative colitis) were reported in the U.S. The rising prevalence of inflammatory bowel disease is expected to fuel growth of the global ostomy care market. Along with this, surge in number of campaigns by healthcare regulators to spread awareness of ostomy is expected to boost demand for the accessories.

However, lack of reimbursement policies for ostomy surgeries and unavailability of medical insurance on purchase ostomy care accessories are likely to hamper growth of the ostomy care accessories market during the forecast period. Further, availability of cheaper substitute for intestine waste removal could impede growth of the global ostomy care accessories market

Nevertheless, increasing health care expenditure; and rising development of new products in ostomy care are expected to boost the global ostomy care market during the forecast period.

Ostomy Care Accessories Market: Regional Outlook

Europe is expected to hold a major share in the global ostomy care accessories market. This is because a large population based in the region is suffering from inflammatory bowel diseases such as crohn’s disease, and bladder cancer. Furthermore, presence of key manufacturers in the region is another factor behind the growth of the ostomy care accessories market in the region.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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