Ostomy is a surgical procedure to create an opening from the urinary tract or intestines as a way for waste products to leave the body. There are three type of ostomy: colostomy, ileostomy, and urostomy. Ostomy care accessories are designed to enhance wear time and performance of ostomy pouches. Ostomates use these accessories as per their requirement such as leakage issues, odor, and support.
The rising prevalence of colorectal cancer is likely to drive the worldwide ostomy care accessories market over the forecast period. Colorectal cancer, for example, is the third most prevalent cancer in males and the second most common disease in women, according to the World Cancer Research Fund (WCRF). According to the WCRF, there were over 1.8 million new cases in 2018.
Furthermore, the rising prevalence of bladder cancer is likely to boost market growth. According to The American Cancer Society, the United States is predicted to have approximately 80,470 new cases of bladder cancer and 17,670 fatalities from bladder cancer in 2019.
Europe region held dominant position in the global ostomy care accessories market in 2019, accounting for 42.2% share in terms of value, followed by North America.
The rising frequency of diseases such as colorectal and bladder cancers, as well as Crohn's disease, in developing nations is likely to provide lucrative growth possibilities for companies in the worldwide ostomy care accessories market. According to the study 'Trends in and Predictions of Colorectal Cancer Incidence and Mortality in China From 1990 to 2025,' published in the journal Frontiers in Oncology in February 2019, in China, the age-standardized incidence rate of colorectal cancer among males increased by 2.76 percent per year from 1990 to 2016, and cancer cases increased more than three times compared to 1990.
Increasing funding for R&D in ostomy bags and accessories is likely to drive market expansion. For example, Ostique, a startup company focusing on developing devices that are more convenient than standard ostomy bags, got approximately US$ 340,000 from Innovate UK, the United Kingdom's innovation agency, in January 2019.
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