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Ostomy Devices Global Market Report 2024 - By Share, Size, Demand And Forecast To 2033
Ostomy Devices Market
As per the report, the ostomy devices market size has grown strongly in recent years. It will grow from $2.64 billion in 2023 to $2.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The ostomy devices market size is expected to see steady growth in the next few years. It will grow to $3.37 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
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Rising Colorectal Cancer Incidence Fuels Growth In The Ostomy Device Market
The high occurrence of colorectal cancer is expected to propel the growth of the ostomy device market going forward. Colorectal cancer develops in the tissues of the colon or rectum*. It involves the uncontrolled growth of abnormal cells in the lining of the colon or rectum*, forming tumors that spread to other parts of the body if not treated early. The higher occurrence of colorectal cancer cases translates into an increased need for ostomy surgeries, and ostomy devices assist patients who have undergone surgical procedures for colorectal cancer by facilitating waste collection and the effective management of bodily functions after surgery by attaching to the stoma. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, colorectal cancer cases increased from 149,500 cases in 2021 to 153,020 cases in 2023, reflecting a growth of 2.35%. Therefore, the high occurrence of colorectal cancer will drive the growth of the ostomy device market.
Innovative Materials Revolutionizing The Ostomy Device Market For Enhanced Comfort And Skin Health
Major companies operating in the ostomy device market are developing innovative materials, such as skin-friendly materials, to reduce the risk of skin issues from prolonged device contact and gain a competitive advantage in the market. Integrating skin-friendly materials into ostomy devices involves incorporating non-irritating materials to minimize the risk of skin irritation, allergies, or discomfort arising from prolonged contact with the device. For instance, in June 2021, Welland Medical, a UK-based manufacturer of ostomy bags and accessories, launched a new ostomy pouch range, Aurum Plus, a newly designed ostomy pouch with skin-friendly hydrocolloid material that includes manuka honey. It provides wound-healing and antibacterial properties to the skin around the stoma. It incorporates body-hugging comfort curves to provide comfort and help reduce the risk of the outlet twisting, which can obstruct urine flow.
The ostomy devices market covered in this report is segmented -
1) By Product: Bags, Accessories
2) By System Type: One-Piece System, Two-Piece System
3) By Surgery Type: Colostomy, Urostomy, Ileostomy
4) By End Users: Ambulatory Surgical Centers, Hospitals, Home Care, Other End-Users
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Major companies operating in the ostomy devices market report are 3M Company, Henkel AG And Co. KGaA, Avery Dennison Corporation, B. Braun Melsungen AG, Smith & Nephew plc, Coloplast Corp., ConvaTec Group PLC, Hollister Incorporated, Porex Corporation, Perma-Type Company Inc., Dansac UK, Salts Healthcare, Zhejiang Longterm Medical Technology Co. Ltd, Vonco Products LLC, Angiplast Pvt. Ltd., Scapa Healthcare Ltd, Welland Medical Limited, Flexicare (Group) Limited, Marlen Manufacturing And Development Company, Advacare Pharma USA LLC., Nu-Hope Laboratories Inc., Torbot Group Inc., Genairex Inc, ALCARE Co. Ltd., OxMed International GmbH, Cymed Inc, Schena Ostomy Technologies Inc., Sarasota Medical Products, Safe N' Simple LLC , Wuhan Sitaili Medical Apparatus Development Co. Ltd
Contents of the report:
1. Executive Summary
2. Ostomy Devices Market Report Structure
3. Ostomy Devices Market Trends And Strategies
4. Ostomy Devices Market - Macro Economic Scenario
5. Ostomy Devices Market Size And Growth
…..
27. Ostomy Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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