Coloplast is the world's leading supplier of intimate healthcare products and is exposed to global markets with a value of around DKK 40bn. On average the markets are expected to grow approx. 5% annually. Coloplast is a developer and manufacturer of products within Ostomy (~35% market share, global no. 1), Continence (~35% market share, global no. 1), Urology (~10% market share) and Wound & Skin Care (~5% market share). The demand for intimate healthcare products is less cyclical as national reforms and reimbursement creates steady underlying growth. This growth comes from the increasing group of patients due to the growing global elderly population. The demographic development is thus a crucial driver for Coloplast. However a challenge is that global healthcare budgets do not grow correspondingly leading to increasing price pressure and tough competition. This has caused a transformation of Coloplast during the last years with new management, restructuring and relocation of production to low-cost countries.