Global Ostomy Devices Market is forecasted to grow at a steady CAGR of 4-5% to reach $3.2 billion by 2026 : Medi-Tech Insights

An ostomy device is prosthetic medical equipment that gives a means for the collection of waste from a surgically diverted biological system (colon, ileum, and bladder) and the formation of a stoma. An ostomy may be necessary due to birth defects, bladder cancer, inflammatory bowel disease, diverticulitis, obesity, and many other medical conditions. It can be categorized into three types colostomy, urostomy, and ileostomy.

Increase in Utilization of Ostomy Drainage Bags Fuels the Ostomy Devices Market Growth

An ostomy bag is primarily used to collect urine or stool post-surgery, depending on the type of surgery a patient undergoes. Nearly 1 in 500 Americans lives with an ostomy drainage bag. About 30% of people with UC will need ostomy bags at some point in time either temporarily or permanently. In some scenarios, such as the removal of the colon due to colon cancer, the usage of ostomy drainage bags may be permanent. Nowadays, bags and pouches are also very discreet and can be worn under almost any kind of clothing.

“New product launches and innovations in ostomy devices technologies and designs like one-piece ostomy bags, and two-piece ostomy bags, among others will open up a new frontier for the market to grow in the future. Technology has a key role to play.” -President, Product & Innovation Department, Ostomy Device Company, United States

Increasing Cases of Colorectal Cancer is Driving the Ostomy Devices Market Growth

Globally, colorectal cancer is the third most common type of cancer in men and the second in women with the highest incidence rates in North America, Australia, New Zealand, Europe, and Japan. It is projected that the number of new patients with colorectal cancer will increase in the nearby future. Surgery which is the most common treatment for colorectal cancer results in 10% of the cases in a permanent ostomy which in turn is expected to boost the market growth in the upcoming years.

Emerging Market Challenges: Global Ostomy Devices Market

Although stomas are a relatively common and safe surgery, there are possible complications and risks involved. Complications can develop during the procedure or throughout the recovery. Some of the common complications are skin irritation, bowel obstruction, dehydration, leakage, parastomal hernia (PH), retraction, and ischemia/necrosis.

Geographic Analysis: Asian Ostomy Devices Market Set To Grow in the Upcoming Years

Asia-Pacific region is expected to witness a significant growth in the upcoming years, due to the growing population, and a rising demand for colostomy in countries such as India, and China as a large number of people suffer from bladder issues in this region.

Competitive Landscape Analysis: Ostomy Devices Market

Some of the established and emerging players operating in the global ostomy devices market are Alcare Co. Ltd., Coloplast A/s, ConvaTec Inc., Flexicare Ltd., Welland Medical Limited, 3M, and Hollister Incorporated, among others.

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