Global Ostomy Devices Market is anticipated to grow at a 4-5% CAGR to reach $3.2 billion by 2026 - Growing Cases of Colorectal, Bowel and Bladder Cancer Diseases

An ostomy device is a prosthetic medical equipment which provides a solution 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 essential due to birth defects, bladder cancer, inflammatory bowel disease, diverticulitis, obesity, and other medical conditions. It can be categorized into three types colostomy, urostomy, and ileostomy.

Growth in Usage of Ostomy Drainage Bags Drives the Growth of the Ostomy Devices Market

An ostomy bag is mainly used to collect urine or stool post-surgery, depending on the type of surgery a patient undergoes. Nearly 1 in 500 Americans live with an ostomy drainage bag. About 30% of people with UC will need ostomy bags at some point in near future either temporarily or permanently. In some situations, such as the removal of the colon due to colon cancer, the application 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 advancements in ostomy devices and designs like one-piece ostomy bags, and two-piece ostomy bags, among others will open up a new frontier for the ostomy devices market to grow in future. Technology has a major role to play in its growth." -President, Product & Innovation Department, Ostomy Device Company, United States

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

Globally, colorectal cancer is the third most common type of cancer in men and the second in women with the highest cases in North America, Australia, New Zealand, Europe, and Japan. It is projected that the number of new patients suffering from colorectal cancer will increase in near 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 upcoming years.

Key Market Challenges: Ostomy Devices Market

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

Geographic Analysis: Asian Ostomy Devices Market is Poised To Growth Rapidly in Upcoming Years

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

Competitive Landscape Analysis: Ostomy Devices Market

Some of the established and emerging players operating in the 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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Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.