Press release
Ostomy Drainage System Market to Reach USD 3.19 Billion by 2034, Growing at a 2.4% CAGR
The global ostomy drainage system market is experiencing steady growth, driven by factors such as the increasing prevalence of colorectal cancer, inflammatory bowel disease, and renal dystrophy. The global ostomy drainage system market is currently valued at US$ 2.5 billion and is forecasted to expand at a CAGR of 2.4% to reach US$ 3.19 billion by 2034.Market Development
The rising incidences of illnesses like cancer and inflammatory bowel disease have led to a heightened demand for ostomy surgeries. Colorectal cancer, for instance, ranks twenty-third globally in terms of disease burden, causing nearly 17 million deaths annually. Ostomy drainage bags are essential for collecting waste in various colostomy procedures, including cecostomy, ascending, loop, and double barrel, both pre- and post-surgery.
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Market Outlook
The market is expected to maintain its growth trajectory over the next decade. Factors such as an aging population and an increase in surgical procedures involving the creation of intestinal stomas contribute to this trend. The prevalence of ulcerative colitis and inflammatory bowel disease has notably increased, particularly among the elderly in developed countries. Healthcare professionals and institutions are expanding their capacity to provide ostomy care, prompting manufacturers to innovate and ensure a consistent supply of ostomy drainage bags.
Market Analysis
An ostomy involves creating a stoma-an artificial opening from the colon-to expel body wastes such as mucus, stools, and urine. According to the National Institute of Diabetes and Digestive and Kidney Diseases, ostomies are classified into colostomy, ileostomy, and urostomy. Ostomy drainage systems, made of plastic or rubber, collect these wastes and are available as one-piece or two-piece systems. One-piece systems integrate the skin barrier and collection bag, while two-piece systems allow for the separation of the collection bag from the skin barrier.
Industry News
Recent years have seen innovative research initiatives, often driven by patient feedback, leading to the development of advanced two-piece connection devices. These technological advancements aim to improve the quality of life for individuals with ostomies.
Market Dynamics
The increasing need for ostomy drainage systems among both youth and adults is attributed to the rising prevalence of colorectal cancer and diverticular disease. The growing elderly population also contributes to the demand for these systems. In response, medical professionals and patient care institutions are enhancing their capacity to provide ostomy care, leading manufacturers to innovate and ensure a steady supply of ostomy drainage bags.
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Competitive Landscape
Key companies operating in the ostomy drainage system market include Alcare Co Ltd., ConvaTec Inc., Flexicare Medical Ltd., Coloplast AS, B Braun Melsungen AG, Hollister Incorporated, Welland Medical Limited, Wellspect HealthCare, and Salts Healthcare Limited. These companies focus on developing and improving their product offerings to meet the growing demand for ostomy care solutions.
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