Global Ostomy Market Key Insights

During the forecast period of 2022-2031, the global Ostomy Market is expected to reach an estimated value of ~USD 5 billion by 2031, by expanding at a CAGR of ~5%. Major key factors propelling the growth of the ostomy market worldwide are the increasing aging population and the rising incidence of inflammatory bowel disorders including ulcerative colitis and Crohn’s disease of the colon.

Market Definition of Ostomy

An ostomy is a surgically made artificial stoma in the abdomen that allows for the removal of waste products from the body. Different gastrointestinal or urinary tract illnesses can be treated with it. The procedure may be temporary or permanent, depending on the intent. An ostomy is a necessary treatment for a number of gastrointestinal and urinary disorders, including colorectal cancer, bladder cancer, Crohn’s disease, ulcerative colitis, injuries, and others. Depending on the goal of the procedure, a stoma may be made in the colon or ileum, among other bodily cavities.

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Global Ostomy Market: Growth Drivers

The growth of the global ostomy market can majorly be attributed to the launch of several advanced nuclear medicine products by the key players operating in the market. For instance, in June 2021, Welland Medical Limited announced the introduction of the Aurum Plus ostomy pouch line, which comes in closed, drainable, and urostomy kinds and various sizes to give ostomates comfort and trust.

The market is expected to expand further as a result of the major companies’ increased use of strategic marketing alliances, new product innovations, and acquisitions to strengthen their market positions and gain an advantage over competitors. For instance, ConvaTec, Inc., a provider of worldwide medical solutions, said in March 2021 that it has extended its Ostomy Care deal with Vizient Inc. for a further three years, enabling it to supply a variety of healthcare facilities with high-quality ostomy devices and accessories.

The global ostomy market is also estimated to grow majorly on account of the following:

• Rising number of people being diagnosed with diseases such as colorectal, bladder, urinary tract, and intestine cancer.
• Growing healthcare spending
• Expanding technical developments in ostomy care products
• Increasing initiatives to raise ostomy awareness

Global Ostomy Market: Restraining Factor

The two primary factors hindering the market’s growth are complications associated with ostomy care items and patients’ lack of understanding of ostomy care.

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Global Ostomy Market Segmentation 

• By Product (Bags, Accessories [Colostomy Bags, Ileostomy Bags, Urostomy Bags, and Others], Accessories [Deodorants, Cleansers, Powders, and Others])

Owing to the growing demand for ostomy bags as a result of rising rates of obesity and diabetes among the population, both among young people and adults, the bags sector is predicted to hold the greatest share by the end of 2031. The colostomy bags segment is anticipated to experience the highest increase throughout the forecast period. In both industrialized and developing nations, where colostomy bags are most frequently used, the prevalence of stomach cancer, colon cancer, and inflammatory bowel disease (IBD) is on the rise. For instance, there are 106,180 new cases of colon cancer in the United States in 2022.[R1]

• By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Home Care Settings)
• By Region

On the back of the rising frequency of chronic bowel illnesses, the market in the Europe region is anticipated to have considerable expansion over the forecast period. For instance, in 2020 there were more than 500,000 cases of inflammatory bowel disease in the United Kingdom. Additionally, the region’s high adoption of technologically advanced products, rising healthcare spending, and the European market to create items that enhance patient comfort are all contributing to the market’s expansion.

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The market research report on global ostomy also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).[SD2]

Key Market Players Featured in the Global Ostomy Market

Some of the key players in the global ostomy market are Coloplast Corp., Hollister Incorporated, B. Braun Melsungen AG, ConvaTec Inc., Salts Healthcare, Welland Medical Limited, Alcare Co., Ltd., Cymed Micro Skin, Marlen Manufacturing & Development Company, Torbot Group, Inc., and others.

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