IQ4I Research & Consultancy Published a New Report on “Incontinence and Ostomy Care Global Market – Forecast To 2023”

Boston, MA, February 17, 2017 --(PR.com)-- Incontinence is the involuntary loss of urine or stool, this is a widespread condition and varies with severity from small leaks to complete loss of control of the bladder or bowel. The two main types of incontinence are urinary incontinence and fecal incontinence. Urinary incontinence can be further classified as stress incontinence, urge incontinence, overflow incontinence and mixed incontinence. An ostomy is a surgical process of creating an opening in the abdomen wall, called a stoma, which may be temporary or permanent. In conditions wherein a section of the bowel has to be removed as in case of colorectal cancer or in conditions when section of the bowel or urinary system requires time to heal, temporary or permanent ostomies are opted. Based on the region being surgically excised for the stoma, ostomy can be classified as ileostomy, colostomy and urostomy. The incontinence and ostomy care global market is expanding at a steady rate, as estimated by IQ4I Research, the incontinence and ostomy care global market is expected to grow at mid single digit CAGR to reach $22,150.3 million by 2023.

Growing prevalence of medical conditions such as women related conditions (for e.g. childbirth, menopause), inflammatory bowel diseases (Crohn’s disease and ulcerative colitis), neurological diseases (multiple sclerosis, Parkinson’s disease etc), oncology (colorectal and prostate cancer) and others diseases, increase in population prone to aging related medical conditions, increase in awareness and acceptance of the condition of incontinence and ostomy, and development of more personalized products for greater patient comfort and care are driving the market growth. Most disposables used in the incontinence and ostomy care market raise environmental concerns which are a factor that may hinder the growth of the market. The limited reimbursement facilities and alternative treatments that include pharmaceutical drugs, exercises, electroceuticals, laser surgeries and radiotherapies are threats for the market growth.

The Incontinence and Ostomy care global market is segmented into products, applications, end-user and by geography. The market is classified based on products into incontinence and ostomy care products. Incontinence care products segment accounted largest revenue in 2016 is project to grow at mid single digit CAGR as per estimates of IQ4I Research.

Incontinence and Ostomy care global market is classified by application into neurological conditions, oncology, urinogenital diseases, GI Tract diseases, women health related and others. Women health related segment accounted for the largest share in 2016, Oncology segment is the fastest growing segment and is projected to growth at a high CAGR as per estimates of IQ4I Research.

The End-user market consists of hospitals, private clinics and home care centers. Among them home care segment occupied largest share and is projected to maintain the status as largest segment throughout the forecast period.

The Incontinence and Ostomy global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. Europe region commanded the largest revenue in 2016 due to favourable reimbursement coverage and high investments in healthcare infrastructures that have led to the market growth in this region. However, Asia- Pacific region is expected to grow at the highest CAGR due to increasing healthcare awareness, higher economic growth, large patient pool and rising aged population.

Some of the prominent players in incontinence and ostomy care market include B. Braun Melsungen AG (Germany), Coloplast AG (Denmark), ConvaTec Inc. (U.S.), Hollister Inc. (U.S.), Kimberly-Clark Corporation (U.S.), Medtronic Inc. (Ireland), Salts Healthcare (U.K.), Svenska Cellulosa Aktiebolaget (Sweden), Unicharm Corporation (Japan), P & G (U.S.), Paul Hartmann (Germany) and Ontex (Belgium).