Ostomy product market expected to grow
The rising number of chronic diseases is expected to be a growth factor for the ostomy products market, according to a new market report. Analysts predict the market will have an annual growth rate of close to 5% during the period 2018-2022.
ALCARE, B. Braun Melsungen, Coloplast, ConvaTec, Hollister and Marlen Manufacturing are listed as major vendors in the market, per the Technavio report. Other companies include Medline and 3M.
The report breaks down products, which include colostomy bags and ileostomy bags; the users, which include healthcare and home care settings; and geography.