Grand View Research has announced the addition of " Global Incontinence and Ostomy Care Products Industry Trends and Market Segment Forecasts To 2020" Market Research report to their Database
San Francisco, California, USA., January 20, 2014 - (PressReleasePoint) -
The global market for incontinence and ostomy care products is expected to reach USD 17,184.2 million by 2020, according to a new research report by Grand View Research, Inc. The presence of high prevalence rates of incontinence, inflammatory bowel diseases and ulcerative colitis and the rising patient awareness levels are two of the highest impact rendering drivers of this market. Some of the other market drivers include rising demand for home healthcare and institutional care. Rising global geriatric population base and the presence of high growth opportunities in the Asia-Pacific region in terms of unmet medical needs are expected to fuel the future growth of this market.
Absorbent products dominated the incontinence care products market on account of their high usage rates, accounting for over 85% of market revenue in 2012. Furthermore, the advent of technologically advanced products such as continent ileostomy and continent urostomy bags will help the ostomy care products market grow at an accelerated rate and gain market share during the course of the forecast period.
High prevalence of target disease segments coupled with high patient awareness levels and high per capita healthcare expenditure helped the North American market hold the largest market share of over 35% in 2012. However, high growth opportunities available in rapidly growing economies with large target population bases will help the Asia-Pacific incontinence and ostomy care products market grow at the fastest rate.
The global incontinence and ostomy care products market was valued at USD 11,500.0 million in 2012 and is expected to grow at a CAGR of 5.2% from 2013 to 2020
The incontinence care products market held majority of the market share in 2012 and is expected to maintain its market position throughout the forecast period. In addition, this market will grow at the fastest rate during the forecast period. High usage rates of disposable absorbents in developed economies such as the U.S. and Japan and growing acceptance of these products in emerging economies with high unmet needs such as China and India account for its high growth rate.
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