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.

Get Granular and Detailed Research Insights on Ostomy Devices Market Report @ https://meditechinsights.com/ostomy-devices-market/

Comments

Post a Comment

Popular posts from this blog

Global HPV Testing and PAP Test Market is slated to grow at a lucrative CAGR of 12 to 15 % by 2027 – Growing Revolution for the Prevention of Cervical Cancer

Cervical cancer is a malignant tumor which starts in the cells of the cervix, the lowermost part of the uterus. Cervical cancer begins when the cells on its surface transforms into precancerous cells. If not destroyed, these abnormal cells may turn into harmful cancer cells and spread in the cervix and surrounding areas. Cervical cancer screening involves HPV and PAP tests , which can identify HPV infection or pre-cancerous lesions at an early stage and if correct treatment is offered at the right time then the cancer can be prevented. Impact of  Covid-19 on  the Global HPV Testing and PAP Test Market Covid-19 pandemic had impacted the healthcare market in many ways. During Covid pandemic, due to strict social-distancing norms in hospitals, there was a delay in many diagnostic examinations and procedures. The delay in the cancer screening services due to the lack of skilled healthcare staff and disruption in the supply chain of testing kits across the world had led to a severe impact o
Read more

Global Medical Display Market is projected to witness a CAGR of 5% by 2027 - Transforming Medical Imaging

Medical displays are purpose-built solutions which offer quick improvements in viewing angle, longevity, luminance, and noise reduction to assure substantially superior accuracy and effectiveness of medical images. Technological Developments and Innovations in Medical Display Drives the Growth of the Global Medical Display Market With the rapid innovations and developments in medical technology, many high-end medical equipment's are being introduced in the global market. Flat-panel displays, holograms, and head-mounted displays are quickly changing the manner in which medical messages are being communicated. The majority of displays used for medical imaging are liquid crystal displays (LCDs) backlit with either CCFLs or LEDs.  For instance,  In January 2023, Barco announced the release of a new LED solution which completes its next-generation LED portfolio. Adoption of Multimodality Display Fuels the Global Growth of the Medical Display Market  With the fast evolution of the medi
Read more

Global Ambulatory Surgical Center (ASC) Software Market is Poised to Grow at a CAGR of 10% by 2027

Ambulatory Surgical Care is a medical care offered in the outpatient setting and does not need any hospital admission. Ambulatory Surgical Center or ASCs—are health care facilities focused on offering same-day surgical care, including diagnostic and preventive procedures. ASCs have transformed the outpatient experience by offering a convenient alternative to hospital-based outpatient procedures. Common procedures performed in ASCs are cataract surgery, gallbladder removal, tonsillectomy, endoscopy, colonoscopy, arthroscopic or orthopedic procedures, and cardiac procedures. Owing to their various cost benefits and convenience, the volume of procedures performed at ASCs is rising and ASC software is likely to play a major role in these settings by easing the day to day operations by preparing staff and patients for pre-op and post-op tasks. Rising Investments in Ambulatory Surgical Center  from Healthcare Companies Shows a Huge Growth Potential for Ambulatory Surgical Center Software Ma
Read more