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.
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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.
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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.
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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.
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