As stated by a market research firm, P&S Intelligence, the size of the stoma care market was USD 2,732.1 million in 2022, and it will grow at a rate of 4.5% in the years to come, to reach USD 3,882.1 million by 2030.
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The increasing occurrence of numerous inflammatory bowel conditions, such as diverticular disease, Crohn’s disease or ulcerative colitis, fecal incontinence, and colorectal and intestinal cancer, accompanied by the increasing healthcare spending, and the advent of novel products for stoma care are driving the growth of the industry.
Ostomy bags will grow at a rate of 6% in the near future. This has a lot to do with the escalation of temporary along with permanent stoma surgeries amongst people suffering from IBDs and large and small intestine cancers, and tech advancements in this type of bag, required for stoma surgeries.
Furthermore, continuous improvements made in existing products according to the necessity of patients by key players and the initiation of effective and apt pouching systems and associated accessories serving to improve the quality of life of ostomy patients will drive the industry.
The colostomy surgery is dominating the stoma care market. This is chiefly because of the increasing frequency of colon cancer and the snowballing colostomy procedures taking place.
Furthermore, the obtainability of numerous kinds of colostomy bags, for example closed system or drainable bags, is the leader of the market.
Hospitals and specialty clinics were the major users. This is because of the fact that a large patient volume prefers hospitals and specialty clinics when suffering from any pain or inflammatory ailments and the upgradation of healthcare infra by government and private players.
Moreover, the increasing count of facilities, the rising acceptance of cutting-edge technologies by large and small specialty clinics and hospitals, and the growing launches of advanced techs are fueling the growth of the market.
Europe had the largest revenue share, of about 40%, and it will maintain the position in the years to come.
This has a lot to do with the increasing incidence of inflammatory bowel diseases, strong healthcare infra, the existence of foremost industry players and compensation policies for stoma care surgeries by private insurance companies, and the increasing government spending.
Furthermore, Germany holds major revenue in Europe. This is because of the increasing requirement for ostomy pouches, fixtures, and services at a high speed. Also, the increasing disposable income is creating a high requirement for stoma surgeries.
It is due to the fact that, there is an increasing count of elderly population all over the world, the demand for the stoma care treatment will continue to increase in the near future.
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