Latin America Ostomy Devices Market, By Type (Products, Accessories), Application (Colostomy, Ileostomy, Urostomy), End User (Hospitals, Trauma Centres, Ambulatory Surgical Centres and Other), Distribution Channel (Direct Tender and Retail Sales) – Industry Trends and Forecast to 2030.
Latin America Ostomy Devices Market Analysis and Size
The demand for ostomy procedures among patients has increased due to the growing occurrence of various disorders such as cancer, inflammatory bowel disease, and renal dystrophy. Presently numerous research studies are taking place which is anticipated to create a competitive advantage for manufacturers to develop new and innovative and advanced ostomy devices which is anticipated to offer various other opportunities in the market. Healthcare professionals and patient care facilities are working hard to increase their capacities to provide ostomy care to patients in response to the increasing demand for ostomies.
Data Bridge Market Research analyses that the market value was USD 88.3 million in 2022, would rocket 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. 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.
Latin America Ostomy Devices Market Scope and 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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Market Opportunities
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Market Definition
Ostomy devices are a type of prosthetic medical device that provides a means for the collection of waste from a surgically diverted biological system such as colon, ileum, bladder and the creation of a stoma. Pouching systems are most commonly related with ileostomies, colostomies, and urostomies.
Latin America Ostomy Devices Dynamics
Drivers
- Increasing Rate of Geriatric Population
The elderly population is more susceptible to chronic diseases such as colon, rectum, and urinary bladder cancer, and the increasing geriatric population in the region is a major factor boosting the market. For instance, as per the projections by the Latin American and Caribbean Demographic Centre (CELADE), the elderly population in Latin America is anticipated to increase to 100.5 million by 2025 from 43 million in 2000. Thus, this boosts the market growth.
- Technological Advancements Associated with Ostomy Care Bags
Increasing advancement in ostomy care bags is one of the primary drivers boosting the market. Market players such as ConvaTec, Coloplast Group, and Hollister have invested heavily in R&D to launch several new products. For instance, Coloplast launched SenSura Mio, a new colostomy pouch featuring a better body fit, in 2012, which decreases the risk of leakage in patients. Also, ConvTec announced the launch of the Esteem+ Flex Convex 1-piece system in January 2017, for patients with colostomies, ileostomies and urostomies. This boosts the market growth.
Opportunities
- Increasing Demand of One-Piece Bags
Increase in demand for one-piece bags is because of their easy management, flexibility, and availability of adhesive flanges. For instance, CliniMed’s pouches are fixed with Hyper Flex hydrocolloid flange, which makes it skin-friendly, assists in averting soreness and leakage, and offers comfort to patients. Thus, these bags are used more than the two-piece bags which helps boost the market's growth.
Restraints/Challenges
- Availability of Substitute Products
Development of substitute products or therapies is anticipated to limit market growth in the upcoming years. For instance, Norwegian medical technology company OstomyCure AS announced the grant of CE mark for its product Transcutaneous Implant Evacuation System (TIES). This is an alternative for ostomy bags and comprises a small titanium tube implanted into the abdomen's soft tissue without needing a conventional stoma. Thus, this hinders the market growth.
This Latin America ostomy devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Latin America ostomy devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2019, Coloplast corp announced the launch of two new products in SenSura Mio Family: SenSura Mio baby and SenSura Mio kids. These products are widely designed for babies ostomy care. This product launch will assist the company in extending extensive product portfolio in ostomy care.
Latin America Ostomy Devices Market Scope
The Latin America ostomy devices market is segmented on the basis of type, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Products
- Accessories
Application
- Colostomy
- Ileostomy
- Urostomy
End-user
- Hospitals
- Wound Care Centres
- Ambulatory Centres
- Home Healthcare
- Clinics
- Others
Distribution Channel
- Direct Tenders
- Retail
Latin America Ostomy Devices Regional Analysis/Insights
The ostomy devices market is analyzed and market size insights and trends are provided by type, wound class, wound type, distribution channel and end-user as referenced above.
The countries covered in the 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.
Argentina is expected to witness the fastest growth during the forecast period due to increasing elderly population and enhancing medical tourism in the country. As per the estimates by Tourism Review Media, around 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. Furthermore, cost-effective and technologically advanced treatment procedures are among the major factors projected to boost the market in Argentina during the forecast period 2023-2030.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The Latin America ostomy devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for ostomy devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the ostomy devices market. The data is available for historic period 2011-2021.
Competitive Landscape and Latin America Ostomy Devices Market Share Analysis
The Latin America ostomy devices 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 devices market.
Some of the major players operating in the Latin America ostomy devices market are:
- Smith+Nephew (U.K.)
- ConvaTec Group Plc (U.K.)
- Coloplast Group (Denmark)
- Integra LifeSciences (U.S.)
- PAUL HARTMANN (Germany)
- B. Braun SE (Germany)
- Cardinal Health, Inc. (U.S.)
- Organogenesis Inc. (U.S.)
- Misonix, Inc. (U.S.)
- MIMEDX (U.S.)
- Johnson & Johnson Private Limited (U.S.)
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