Latin America Ostomy Care Bags Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Latin America Ostomy Care Bags market size is expected to be worth around US$ 477.98 million by 2030, according to a new report by Vision Research Reports.

The global Latin America Ostomy Care Bags market size was valued at US$ 230.53 million in 2020 and is anticipated to grow at a CAGR of 6.10% during forecast period 2021 to 2030.

Growth Factors

Increase in prevalence of chronic diseases, such as inflammatory bowel disease, colorectal cancer, bladder cancer, and fecal and urinary continence, is one of the major factors driving the Latin America ostomy care bags market. Furthermore, rise in geriatric population in most Latin American countries is anticipated to propel market growth.

Increase in new product launches and growing investment by key market players to develop advanced products are among factors that are likely to positively influence the market. For instance, Coloplast Group launched SenSura Mio Concave in April 2018, a new range of ostomy products. These products have an elastic adhesive and star-shaped base plate, allowing them to comfortably fit curved body profiles.

Growing demand for one piece ostomy pouches is expected to boost the market. These products are known for being low profile, which means they are nearly invisible under the clothes. Furthermore, these pouches are more cost effective as compared to others and the flanges attached with them are more secure.

Report Highlights

The colostomy segment held the largest revenue share in 2017. This is attributed to rise in the number of patients diagnosed with colorectal cancer, fecal incontinence, and congenital malformations. Colostomy bags are available in different sizes, such as mini pouches, drainable, and closed bags, which are easily available to the patient population at a reasonable price. This has significantly contributed to segment growth.

Ileostomy is the second largest segment based on product type and is expected to witness the fastest growth over the forecast period. Rise in the number of patients diagnosed with ulcerative colitis, Crohn’s disease, and familial adenomatous polyposis is expected to drive demand for ileostomy pouches over the coming years. Drainable pouches are preferred by patients since they are user friendly and reusable.

Urostomy bags have enjoyed the smallest revenue share so far owing to decrease in the number of patients suffering from bladder cancer. However, patients with spinal cord injuries and malfunctions such as chronic infection of the bladder also undergo urostomy procedures, which can drive demand. Salts Healthcare Ltd., ConvaTec Group Plc, and Hollister Incorporated are some of the key players operating in this segment.

The one-piece segment held the largest revenue share in 2017 and is expected to retain its dominance over the forecast period. This is majorly due to several advantages associated with their application. These products are known for being low profile, which means they are nearly invisible under the clothes. Furthermore, these pouches are more cost-effective as compared to others and the flanges attached with them are more secure.

Rise in demand for one-piece bags is also due to their flexibility, easy management, and availability of adhesive flanges. For instance, CliniMed’s pouches are affixed with Hyper Flex hydrocolloid flange, which makes it skin-friendly, helps in averting soreness and leakage, and provides comfort to patients.

Two-piece pouches account for a relatively smaller share in the market. The risk of accidental leakage is higher in these pouches as it can get detached from the skin barrier. Moreover, these pouches are bulkier and rigid, thus rendering them unsuitable for the geriatric population. However, it is the preferred choice for active living, thereby resulting in high demand for the same among young, more active individuals.

In 2017, home care settings emerged as the largest end-use segment within the Latin America ostomy care bags market, attributed to the growing geriatric population. Elderly people are more prone to ostomy and conditions such as fecal and urinary incontinence. This results in greater demand for ostomy bags for home care settings. Availability of and accessibility to trained nurses or healthcare aides are also anticipated to boost market growth.

Hospitals are also a key end-use segment and this can be majorly attributed to surge in the admission of patients diagnosed with ostomy. Furthermore, rise in the geriatric population with ostomies, increase in the number of post stoma operations, and surge in demand for inpatient monitoring have driven the segment.

The others segment, which includes ambulatory surgical centers (ASC) and specialty clinics, is expected to witness the fastest growth over the forecast period. Surge in the establishment of specialty clinics and ambulatory surgical centers to cater to growing patient demand is one of the key factors expected to boost the segment in the coming years. Ambulatory surgical centers have proven to be one of the best alternatives to hospitals for stoma surgeries due to their cost-effectiveness and proper management. Thus, with rise in awareness regarding the benefits of ASCs and growing adoption of technologically advanced equipment in these facilities, this segment is expected to grow at a lucrative rate over the forecast period.

Brazil accounted for the largest revenue share in 2017. Increase in prevalence of chronic diseases and rise in the geriatric population are some of the factors responsible for its dominant share. Greater awareness level regarding ostomy products and favorable initiatives taken by the government and public players in the country are also expected to boost the market in the coming years.

Argentina is expected to witness the fastest growth over the forecast period owing to rising geriatric population and expanding medical tourism in the country. Patients from across the globe have been seeking medical aid in the country, thanks to its skilled doctors, advanced healthcare system, and modern hospital and clinical infrastructure. According to estimates by Tourism Review Media, approximately 47.0% of the patient population in Argentina is from Latin American countries, 24.0% from Canada and U.S., 22.0% from European nations, and 7.0% from other countries. Cost-effective and technologically advanced treatment procedures are among the key factors anticipated to boost the market in Argentina over the forecast period.

Key Players

Coloplast Group; Hollister Incorporated; ConvaTec Incorporated; Salts Healthcare Ltd.; B. Braun Melsungen AG

Market Segmentation

  • Application Outlook 

    • Colostomy

    • Ileostomy

    • Urostomy

  • Product Outlook 

    • One piece

    • Two piece

  • End-use Outlook 

    • Home care settings

    • Hospitals

    • Others

  • Regional Outlook 

    • Brazil

    • Mexico

    • Argentina

    • Peru

    • Chile

    • Colombia

    • Panama

    • Costa Rica

    • Ecuador

The Latin America Ostomy Care Bags market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Latin America Ostomy Care Bags market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Latin America Ostomy Care Bags market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Latin America Ostomy Care Bags market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Latin America Ostomy Care Bags market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Latin America Ostomy Care Bags capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Latin America Ostomy Care Bags by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Latin America Ostomy Care Bags market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Latin America Ostomy Care Bags market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Latin America Ostomy Care Bags market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Latin America Ostomy Care Bags industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Latin America Ostomy Care Bags market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Latin America Ostomy Care Bags market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Latin America Ostomy Care Bags market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Latin America Ostomy Care Bags market. These factors have benefited the growth of the global market for Latin America Ostomy Care Bags. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Latin America Ostomy Care Bags. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Latin America Ostomy Care Bags are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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