Ostomy devices enhance the quality of life for individuals who have undergone ostomy surgeries, where an opening (stoma) is created to redirect bodily waste. These devices, including pouches and barriers, provide a secure and hygienic means for managing and collecting waste, allowing individuals to maintain an active and normal lifestyle. Ostomy devices promote comfort, confidence, and independence for ostomates, enabling them to engage in daily activities with minimal disruption while effectively managing their unique healthcare needs.
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Data Bridge Market Research analyses the Latin America Ostomy Devices Market value was USD 88.3 million in 2022, is expected to reach up to USD 129.47 million by 2030, and is expected to undergo a CAGR of 4.90% during the forecast period 2023 to 2030. The expanding aging population in Latin America is a key driver for the ostomy devices market, as the higher prevalence of age-related conditions such as colorectal cancer and inflammatory bowel diseases necessitates an increased demand for ostomy procedures and devices in the region.
Key Findings of the Study
Increasing prevalence of gastrointestinal disorders in the region is expected to drive the market's growth rate
The Latin America ostomy devices market is significantly influenced by the increasing prevalence of gastrointestinal disorders in the region, including conditions such as diverticulitis and colorectal cancer. The surge in these disorders has resulted in a notable uptick in ostomy surgeries as a medical intervention, subsequently propelling the demand for ostomy devices. As individuals undergo ostomy procedures to manage these gastrointestinal conditions, the market experiences a heightened need for ostomy bags and accessories. This trend is shaping the market landscape, with healthcare providers and manufacturers responding to the rising demand for innovative and effective ostomy solutions to improve the quality of life for patients dealing with these disorders.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Products, Accessories), Application (Colostomy, Ileostomy, Urostomy), End-User (Hospitals, Trauma Centres, Ambulatory Surgical Centres and Other), Distribution Channel (Direct Tender and Retail Sales)
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Countries Covered
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Mexico, Brazil, Colombia, Argentina, Chile, Peru, Panama, Costa Rica, Republica Dominicana, Ecuador, Bolivia, Paraguay, Uruguay, El Salvador, Nicaragua, Venezuela and rest of Latin America
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Market Players Covered
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ALCARE Co., Ltd. (Japan), B. Braun SE (Germany), ConvaTec Inc. (U.K.), Flexicare (Group) Limited (U.K.), Pelican Healthcare Limited (U.K.), 3M (U.S.), Salts Healthcare (U.K.), Hollister Incorporated. (U.S.), Welland Medical Limited. (U.K.), Torbot Group, Inc. (U.S.)
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Data Pointer
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The Latin America ostomy devices market is segmented on the basis of type, application, distribution channel and end-user.
- On the basis of type, the Latin America ostomy devices market is segmented into products, and accessories
- On the basis of application, the Latin America ostomy devices market is segmented into colostomy, ileostomy, and urostomy
- On the basis of distribution channel, the Latin America ostomy devices market is segmented into direct tender and retail sales
- On the basis of end-user, the Latin America ostomy devices market is segmented into hospitals, trauma centres, ambulatory surgical centres and other
Major Players
Data Bridge Market Research recognizes the following companies as the major Latin America ostomy devices market players in Latin America ostomy devices market are ALCARE Co., Ltd. (Japan), B. Braun SE (Germany), ConvaTec Inc. (U.K.), Flexicare (Group) Limited (U.K.), Pelican Healthcare Limited (U.K.), 3M (U.S.), Salts Healthcare (U.K.)
Market Developments
- In 2022, Coloplast Singapore made headlines by introducing SenSura Mio, a cutting-edge product leveraging the latest elastic adhesive technology. This particular product is designed to cater to individuals with varying peristomal body profiles. Notably, this launch marked the first time SenSura Mio was made available in Singapore and Southeast Asia. The primary objective behind this introduction was to enhance the quality of life for ostomy patients, commonly referred to as ostomytes, by providing a product that adapts to diverse stoma conditions
- In 2021, Medline, a U.S.-based company, forged a strategic partnership with Ostoform, an Ireland-based startup, with the aim of commercializing innovative healthcare solutions. This collaboration such asly focused on leveraging Medline's market presence and distribution networks to bring Ostoform's products or technologies to a broader audience. Specific details about the partnership, such as the nature of the products involved or the targeted markets, would require additional information
- In 2021, Convatec Inc made a significant move by acquiring Cure Medical, a strategic maneuver aimed at strengthening and expanding its product portfolio. The acquisition was such asly motivated by Convatec's desire to offer a more comprehensive range of healthcare products, potentially enhancing its competitiveness in the medical supplies and devices market. The specific products or areas of focus resulting from this acquisition would need further investigation
- In 2020, Trio Healthcare secured a significant financing deal from the specialized finance company SWK Holdings Corporation based in the U.S. . This financial infusion was aimed at facilitating substantial domestic and international expansion efforts for Trio Healthcare. The strategic move was strategically timed to precede an anticipated product launch in 2021, reflecting Trio Healthcare's proactive approach to securing the necessary resources for growth and development in the field of healthcare
- In 2020, Obe Equity Partner (OEP), a private firm, completed the acquisition of American Medical Technology (AMT), a provider specializing in advanced wound care and ostomy solutions. This acquisition such asly involved a transfer of ownership, with Obe Equity Partner gaining control of AMT's assets and operations. The strategic implications of this acquisition could include synergies between OEP's existing portfolio and AMT's expertise, potentially leading to innovations or advancements in the field of wound care and ostomy management. The specific details of the acquisition terms and the subsequent plans for AMT would need further exploration.
Regional Analysis
Geographically, the countries covered in the Latin America ostomy devices market report are Mexico, Brazil, Colombia, Argentina, Chile, Peru, Panama, Costa Rica, Republica Dominicana, Ecuador, Bolivia, Paraguay, Uruguay, El Salvador, Nicaragua, Venezuela and rest of Latin America
As per Data Bridge Market Research analysis:
Argentina is estimated to be the fastest growing region in Latin America ostomy devices market the forecast period 2023-2030
Argentina's healthcare sector is expected to experience the significant growth from 2023 to 2030, driven by key factors. The increasing elderly population underscores the rising demand for healthcare services. Notably, Argentina has emerged as a prominent destination for medical tourism, attracting around 47.0% of patients from Latin American countries, 24.0% from Canada and the U.S., 22.0% from Europe, and 7.0% from other regions. The distribution of the patient population highlights Argentina's regional and global appeal. A crucial catalyst for this growth is the availability of cost-effective and technologically advanced treatment procedures, making Argentina an attractive choice for both domestic and international patients.
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