Get In Touch

Global Stoma Care Market: Overview

Because of the high frequency of bladder cancer and colorectal cancer, growing number of activities to develop awareness about stoma, rising demand for stoma care and accessories, and technological developments is expected to drive global stoma care market in the near future. Moreover, the expanding base of elderly population base is projected to boost demand for stoma care and its accessories over the projection period, from 2021 to 2031.

Rising incidences of colorectal cancer is projected to increase demand for stoma care and accessories. Colorectal cancer is considered the fourth most prevalent disease and the second major reason for cancer-related deaths in the US, as per the National Cancer Institute. Colorectal cancer risk rises with age, with the majority of cases occurring in individuals aged between 65 years to 74 years. In addition to that, colorectal cancer is becoming more common in Asian nations such as Japan, China, and India. Over the forecast period, from 2021 to 2031, the growing incidence of urinary bladder and colorectal cancer has boosted demand in global stoma care market.

Transparency market research offers a comprehensive understanding of the global stoma care market through this report. It offers well-researched data on various facets of the market to offer valuable business input for profit generation.

Expanding operations in future? To get the perfect launch ask for a custom report

Global Stoma Care Market: Notable Developments

Welland Medical introduced the Aurum line of skin-friendly stoma solutions during the Swedish ET-nurse convention in May 2019. These kinds of initiatives are anticipated to broaden regional reach of the market.

The noted players that are operational in the global stoma care market are Hollister Incorporated, Salts Healthcare Ltd., B. Braun Melsungen AG, Welland Medical Ltd., Coloplast Corporation, and ConvaTec Group Plc.

Global Stoma Care Market: Key Trends

Below-mentioned market trends and opportunities mark the global stoma care market:

Rise in Elderly Population to Lead to Increased Stoma Operations in the Near Future

One of the major reasons predicted to boost the global stoma care market over the forecast period is the expanding senior populace. According to the WHO (World Health Organization), the human population aged 65 years and over is anticipated to grow from 7% to 16% in 2050. The majority of people who have a stoma are over the age of 50 years. The frequency of stoma operations is greater amongst the elderly than amongst the adults, according to the American Medical Association. Furthermore, according to NCBI, patients aged above 70 years and up have more permanent stoma operations than younger individuals, with longer hospital stays and a greater death rate, which is expected to raise demand in the global stoma care market. As a result, as the elderly population of the world grows, so does the demand for long- and short-term healthcare, which is projected to drive expansion of the global stoma care market. In addition to that, technical developments in stoma care products are one of the primary drivers of the market. During the forecast period, the market is anticipated to be driven by the development of effective and proper pouching systems and related accessories that assist to enhance the quality of life of stoma patients.

Request a sample to get extensive insights into the Stoma Care Market

Global Stoma Care Market: Geographical Analysis

In 2020, Europe dominated the market, accounting for the majority of its sales. This is due to reasons such as an increase in the number of stoma patients owing to ulcerative colitis or Crohn's disease, as well as increased knowledge of stoma care and surgical treatments. IBD, also known as ulcerative colitis or Crohn's disease, is on the rise in the countries of Europe, according to the National Center for Biotechnology Information.

From 2021 to 2031, the stoma care market in Asia Pacific is anticipated to develop at a rapid pace. In this region, rising consumer understanding is projected to drive the demand for stoma care products. Furthermore, because a big number of individuals in countries like China and India suffer from bladder problems, there is a high need for colstoma. This is likely to work in favor of the market in Asia Pacific.

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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Stoma Care Market