Incontinence and ostomy care products market are expected to grow over the forecast period owing to the increasing geriatric population and growing healthcare infrastructure. The other drivers of this market are rising incidences of obesity, increasing prevalence of various diseases such asulcerative colitis, Crohn’s disease and inflammatory bowel disease, and technological advancement such as, continent urostomy bags and continent ileostomy bags.
This market has a huge unmet need of the patient pertaining to incontinence. With the help of recent data and the demand for the market, we can say that the market will show the fruitful CAGR over the forecast period. Increasing number of geriatric population is directly affecting the growth of the market. As we know in the old age, people suffer from lot of diseases and had to go through various surgeries, here the actual need of incontinence and ostomy care products starts.
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These care products helps in collecting body waste such as faces and urine in the bags. It has come across that these products are majorly used by women as compared to men, as women are susceptible to incontinence three times more than the men.
Incontinence and ostomy care products market is segmented on the basis of products into absorbents, incontinence care, ostomy care, incontinence bags, colostomy bags, ostomy bags, urostomy bags, ileostomy bags, skin barriers, deodorants and irrigation products. Among these, absorbents held the largest market share in 2013. The reason for its dominance is due to its high usage rate, re-usable, economical, easy to use, disposable, light weight, and manufactured with heavy grades, which offers range of absorbencies.
Under ostomy care products, ostomy bags held the largest share in 2013, as these bags are very helpful for collecting human waste ( created by stoma) during the surgery or post-surgical period. These bags are water & air tight, so that person can perform its daily routine without any difficulties. Ostomy bag share will continue to grow over the forecast period due to the introduction of technological advancement in these bags such as skin friendly and user friendly bags.
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Geographically, the Incontinence and ostomy care products market are studied with respect to North America, Europe, Asia Pacific and RoW. North America is dominating the whole market. The reason for its dominance is due to the availability of disposable income, increasing patient awareness, presence of strong R&D, availability of technological advanced products and large base of geriatric population. Asia Pacific will be growing at fastest CAGR (cost of annual growth rate) especially India, China and Japan, as these the population of these countries is increasing at an immense rate.
These regions are expected to witness lucrative growth during the forecast period due to the rising healthcare expenditure, increasing number of patients, increasing number of hospitals, and increasing awareness among people. As these are the the fast developing countries, the global investors are looking at these countries as a big opportunity and they are establishing their company’s branches in these regions.
The major market players in the Incontinence and ostomy care products market are Kimberly-Clark Corporation, SCA (Svenska Cellulosa Aktiebolaget), Unicharm Corporation, Coloplast Corporation, Hollister Inc., ConvaTec, B. Braun Melsungen AG, Ontex, Byram healthcare, Activstyle Corporation, Edge Park medical suppliers, Parthenon ltd, CCS Medicals, Liberator Medical Supply, Inc. and Stoma Bags. As this market is full with large number of generic product manufacturers, so companies are following the strategies like merger & acquisition, collaboration, joint venture and setting up their manufacturing plants in the labour intensive countries.
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