April 21, 2024
Ostomy Care Accessories Market

Ostomy Care Accessories Market Is Driven By Increasing Geriatric Population

Ostomy care accessories provide hygienic care to patients who have undergone colostomy, ileostomy or urostomy. Some common ostomy care accessories include ostomy pouches, faceplates and deodorizers that help collect and contain waste from the stoma. The need for such accessories is increasing among geriatric population who are more prone to chronic illnesses like Crohn’s disease, ulcerative colitis and cancer that may require ostomy surgery. Ostomy pouches need to be changed regularly and proper cleaning and protection of stoma is important for the comfort and well-being of patients. The global Ostomy Care Accessories Market is estimated to be valued at US$ 4.26 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the key trends in the ostomy care accessories market is the rising adoption of one-piece ostomy pouches. Traditional two-piece pouches that have a separate barrier and pouch are being replaced by one-piece bags that have better adhesion and prevent leakage. Their user-friendly design makes emptying and disposal easier. Manufacturers are also focusing on developing odor-proof ostomy bags and accessories and incorporating features like filters and deodorizers. This is helping improve quality of life for ostomy patients. Another major trend is the growing demand for customized and discreet ostomy accessories. Companies are offering a wide variety of products in various sizes, styles and formats to better suit different body types and lifestyle needs. This is increasing confidence and comfort among users.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the ostomy care accessories market is moderate as it requires high initial investment for manufacturing facilities and distribution networks.
Bargaining power of buyers: The bargaining power of buyers in the ostomy care accessories market is high as the products are commodity products and buyers can easily switch to other brands.
Bargaining power of suppliers: The bargaining power of suppliers in the ostomy care accessories market is moderate as there are many suppliers for raw materials.
Threat of new substitutes: The threat of new substitutes in the ostomy care accessories market is low as there are limited product alternatives.
Competitive rivalry: The competitive rivalry in the ostomy care accessories market is high due to the presence of many regional and international players.

Key Takeaways

The global Ostomy Care Accessories Market is expected to witness high growth over the forecast period.

Regional analysis: North America is expected to hold the largest share in the global ostomy care accessories market over the forecast period due to increasing ostomy procedures in the region. Advanced medical facilities and rising disposable income are also driving the market in North America.

Key players operating in the ostomy care accessories market are PPG Industries (US), Sherwin-Williams Company (US), Kukdo Chemical Co., Ltd. (South Korea), Nukote Coatings Systems (US), and VIP GmbH (Germany). PPG Industries is one of the leading paints and coatings manufacturer globally. Sherwin-Williams Company offers products for various sectors including construction, transportation and protective & marine coatings.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it