The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

The global market for Stoma/Ostomy Care Products is projected to reach US$3.1 billion by 2025, driven by the rapidly aging population increase in the number of operative procedures involving creation of intestinal stoma and the resulting focus shed on “stoma quality of life”. World’s population is rapidly aging supported by the increase in longevity as modern medicine becomes increasingly effective in preventing chronic disease, and reducing mortality. Also, easy access to age-friendly primary healthcare and growing sophistication of healthcare infrastructure play key roles in longevity. For the first time in human the percentage of older people in the total population is continuing to increase. In addition to the aforementioned increase in life expectancy, falling fertility rates are accelerating the trend. The aging population creates massive challenges for the healthcare system since it means larger chronic disease burden. Among the many diseases of the elderly such as dementia; arthritis; blindness; chronic bronchitis; motor neurone diseases; osteoporosis; Parkinson’s disease; stroke; CKD; and Alzheimer's, incontinence and bowel obstruction caused by colorectal cancer and other diseases that require surgical removal parts of the rectum, anus and colon requires the highest nurse care and self-care management needs. Colorectal cancer is the leading cause for creation of stomas/ostomy accounting for 45.6% of the prevalence rate. Juxtaposed with this fact, the high prevalence of colorectal cancer, over 60% of the incidence rate, among the elderly aged over 70+ makes aging population a powerful demographic growth driver for stoma/ostomy care products. Colostomy is the most popular type of procedure performed on 45.2% of ostomy patients in the 60+ age group, while Ileostomy is the second most common procedure performed on people aged over 60 with over 38.7% of ostomy patients in the 60+ age group having Ileostomy. Urostomy is performed on 16.1% of ostomy patients in the 60+ age group. Read More…