Global Ostomy Devices Market is forecasted to grow at a CAGR of 4-5% to reach $3.2 billion by 2026
An ostomy device is prosthetic medical equipment that gives a means for the collection of waste from a surgically diverted biological system 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.
Rise in Utilization of Ostomy Drainage Bags fuels the Growth of Ostomy Devices Market
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.
Growing Cases of Colorectal Cancer is Driving the Ostomy Devices Market Demand
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 estimated that the number of new patients with colorectal cancer will increase in 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.
Rising Market Challenges: 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 Overview: Asia-Pacific Ostomy Devices Market Set To Grow Rapidly in the Coming Years
Asia-Pacific region is expected to witness a significant growth in the upcoming years, due to an increasing geriatric population, and a growing 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: Global Ostomy Devices Market
Some of the established and upcoming 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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