Increasing Prevalence of Inflammatory Bowel Diseases and Integration of Ostomy Care with Digital Health to Augment Growth of Ostomy Care Market

 

Ostomy Care Market

An ostomy is a surgery that makes a temporary or permanent opening in the skin called a stoma. It treats certain diseases of the digestive or urinary systems.

Market Dynamics

Increasing prevalence of inflammatory bowel diseases is expected to propel growth of the global ostomy care market. For instance, according to the study, ‘Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies’, published in the journal Lancet in 2018, the prevalence of Crohn's disease in Germany was 22 per 100,000 and 319 per 100,000 in Canada. Moreover, launch of convenient home delivery system for products is also expected to aid in growth of the market. For instance, in June 2018, ActivStyle, a major direct-to-consumer distributor of medical supplies, launched Catheter Express, a new catheter and urology brand within the ActivStyle family that will focus on the convenient home delivery of catheters and urology supplies in the U.S.

Integration of ostomy care with digital health is expected to offer lucrative growth opportunities for players in the global ostomy care market. For instance, in August 2020, Corstrata, a virtual wound and ostomy management company, partnered with Citus Health, a digital health solutions provider for the post-acute industry, to leverage the Citus Health platform as the core technology driving Corstrata Wound and Ostomy Management. Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.    

Among region, North America is expected to witness significant growth in the ostomy care market, owing to increasing prevalence of colon cancer in the region. For instance, according to The American Cancer Society, the U.S. is expected to record 104,610 new cases of colon cancer in 2020.

Competitive Analysis

Major players operating in the global ostomy care market are focused in adopting M&A strategies to expand their market share. For instance, in January 2020, AdaptHealth, the U.S.-based home medical equipment provider, acquired the Patient Care Solutions (PCS) business of McKesson, which added urological and ostomy products to AdaptHealth’s home medical equipment product portfolio.

Major players operating in the global ostomy care market include, 3M Company, Coloplast Corporation, ConvaTec, Inc., Hollister, Inc., Corstrata, Smith & Nephew Plc, Alcare, Nu-Hope, Welland Medical, Cymed, and Flexicare Medical.


Location: India

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