According to the American Cancer Society, in 2021, about 149,500 people will likely be diagnosed with colorectal cancer, and nearly 52,980 people will die because of colorectal cancer. The increasing occurrence of colorectal and urinary bladder cancer has increased the demand for ostomy care products worldwide. Furthermore, technological advancements leading to ostomy care products are some of the primary factors boosting the market.
According to Data Bridge Market Research, the Global Ostomy Devices Market, which was USD 2.60 billion in 2021, is expected to reach USD 3.70 billion by 2029, at a CAGR of 4.50% during the forecast period from 2022 to 2029.
"Increasing Usage of Ostomy Drainage Bags Surge the Market Growth"
Ostomy bags are mainly used to collect urine or stool post-surgery, depending on the type of surgery a patient undergoes. Almost 1 in every 500 U.S. citizens has an ostomy drainage bag. Around 30% of urothelial cancer people require temporary or permanent ostomy bags. In many cases, such as when the colon is removed due to cancer, ostomy drainage bags may be permanent. The convenient feature of bags and pouches that can be worn under any clothing can boost the market growth. Thus, this factor will boost the growth of the market.
What restraints the growth of the Global Ostomy Devices Market?
"Complications Associated With Surgical Procedures"
Many ostomy surgeries have severe complexities even though the surgeries are successful. Several complications can arise during the procedure or the recovery period. The most common complications are skin irritation, dehydration, bowel obstruction, leakage, prolapsed, retraction, ischemia/necrosis, parastomal hernia (P.H.), and damage to other abdominal organs. The general risks of surgery involve bleeding, anesthesia reaction, wound infection, blood clot, and septicemia. These all are the major factors that impede the growth of the market.
Segmentation: Global Ostomy Devices Market
The global ostomy devices market is segmented on the basis of product type, surgery type, shape of skin barrier, system type, and end users.
- On the basis of product type, the ostomy devices market is segmented into bags and accessories.
- On the basis of surgery type, the ostomy devices market is segmented into ileostomy drainage bags, colostomy drainage bags and urostomy drainage bags.
- On the basis of shape of skin barrier, the ostomy devices market is segmented into flat and convex.
- On the basis of system type, the ostomy devices market is segmented into one-piece system, and two-piece system.
- On the basis of end-user, the ostomy devices market is segmented into ambulatory surgical centers, hospitals, home care and others.
Regional Insights: North America is expected to dominate the Global Ostomy Devices Market
North America dominates the market due to the increasing incidences of IBD and growing consciousness about ostomy care or stoma surgeries. Additionally, the rising geriatric population indicates a rising incidence of colon, IBD, bladder cancers, and incontinence.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 because of the emerging economies, increasing count of patients, huge growth in the health care expenses, and steadily growing population.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-ostomy-devices-market
Recent Developments in Global Ostomy Devices Market
- In 2021, Trio Healthcare received $10 million in funding from SWK Holdings Corporation, a U.S. specialist finance company. The funding will help Trio's R&D, and manufacturing teams scale up operations to support a large-scale global rollout of Trio's Genii stoma bag.
- In 2021, Welland launched its brand new ostomy pouch range Aurum Plus. The latest pouches are available in drainable, closed, and urostomy sizes. Aurum Plus started as an idea to give ostomates more options, comfort, and confidence.
The Prominent Key Players Operating in the Global Ostomy Devices Market Include:
- ALCARE Co., Ltd. (Japan)
- B. Braun SE (Germany)
- ConvaTec Inc. (U.K.)
- Flexicare (Group) Limited (U.K.)
- Pelican Healthcare Limited (U.K.)
- 3M (U.S.)
- Salts Healthcare (U.K.)
- Hollister Incorporated. (U.S.)
- Welland Medical Limited. (U.K.)
- Torbot Group, Inc. (U.S.)
- Marlen Manufacturing & Development Company. (U.S.)
- Nu-Hope Laboratories, Inc. (U.S.)
- Perfect Choice Medical Technologies (U.S.)
- Prowess Care (India)
- GOOD HEALTH INC. (India)
- Romsons Group Private Limted (India)
- Simply Medical (U.S.)
- Oakmed Healthcare (U.K.)
- Abbott (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global ostomy devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Ostomy Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
