The global ostomy care and accessories market size is anticipated to reach USD 4.4 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a 4.7% CAGR during the forecast period. Increasing incidence of colorectal cancer and urological diseases, such as Inflammatory Bowel Disease (IBD), is anticipated to boost the stoma care and accessories market growth.
Several initiatives are being undertaken by various nonprofit organizations and private players to raise awareness regarding ostomy care globally. For instance, European Ostomy Association organizes World Ostomy Day (WOD) each year. The organization aims at improving the rehabilitation of ostomates across the globe by bringing them together. Many associations organize activities such as educational programs and support meetings as well as use electronic information network to raise awareness.
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Technological advancement is one of the major drivers of the market. Development of suitable & efficient pouching systems and associated accessories that help in improving the quality of life of ostomy patients is also expected to drive the market. Coloplast Group; ConvaTec, Inc.; and Hollister are some of the key ostomy care and accessories market players investing significantly on R&D to launch new products. In January 2017, ConvTec, Inc. announced the launch of Esteem+ Flex Convex 1-piece system for patients who have undergone colostomy, ileostomy, or urostomy procedures.
Further key findings from the study suggest:
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Grand View Research has segmented the global ostomy care and accessories market on the basis of product, application, end use, and region:
Ostomy Care and Accessories Product Outlook (Revenue, USD Million, 2015 – 2026)
Ostomy Care and Accessories Application Outlook (Revenue, USD Million, 2015 – 2026)
Ostomy Care and Accessories End-use Outlook (Revenue, USD Million, 2015 – 2026)
Ostomy Care and Accessories Regional Outlook (Revenue, USD Million, 2015 – 2026)
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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