Colorectal
cancer is the most common cause of stomas, accounting for about 45.6% of all
cases. More than 45.0% of colostomies are performed in ostomy patients aged 60
above, thereby surging the demand for healthcare products. In addition,
colorectal cancer is the third most common form of cancer in both men and
women. For instance, according to the report published by the World Health Organization
(WHO), in 2020,9,35,000 deaths were reported out of 1.93 million cases due to
colorectal cancer. Although it is more prevalent in adults aged 50 and older,
however, the incidence rate has increased by 2.2% annually in individuals
younger than 50 years.
For
instance, according to the American Cancer Society, about 1.4 lakh individuals
were diagnosed with colorectal cancer in 2020 of which 12.00% were individuals
younger than 50. Furthermore, according to the National Center for
Biotechnology Information (NCBI), colorectal cancer is the deadliest among
males in UAE and deadliest among females in Japan. Therefore, such instances
indicate a considerable increase in demand for healthcare products, as it is
one of the essential requirements for treating such cases, thereby propelling
market growth over the forecast period.
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Stoma Care Market Report Highlights
- In terms of
revenue, the others segment held the largest revenue share in 2020. The
rising number of ostomies across the globe is the major factor propelling
the segment growth
- The
colostomy segment held the largest revenue share in 2020 and is expected
to witness a considerable growth rate over the forecast period due to the
increasing prevalence of colon cancer
- The home
care settings segment held the largest revenue share in 2020. The segment
growth is majorly driven by the outbreak of COVID-19 across the globe and
the patients opting for homecare services
- In Asia
Pacific, the market is anticipated to witness the fastest growth rate over
the forecast period due to the adoption of advanced technologies required
for stoma care, high population base, and rising awareness about ostomy
care
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