Overview and Scope
Ostomy devices refer to prosthetic medical devices responsible for collecting waste from biologically redirected systems, such as the colon, ileum, or bladder, as a result of surgical interventions. This process is facilitated by the creation of a stoma, which involves surgically crafting an opening on the body’s surface to enable waste elimination.
Sizing and Forecast
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 growth in the historic period can be attributed to prevalence of gastrointestinal disorders, rising incidence of colorectal cancer, improvements in surgical techniques, enhanced quality of ostomy products, increasing awareness and patient education, supportive healthcare policies..
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%. The growth in the forecast period can be attributed to aging population and chronic diseases, focus on patient-centric products, advancements in materials and design, global expansion of ostomy care awareness, telehealth and remote patient monitoring, healthcare system modernization.. Major trends in the forecast period include environmentally friendly products, customization and personalization, awareness and education initiatives, healthcare cost containment, global market expansion and accessibility..
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Segmentation & Regional Insights
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
North America was the largest region in the ostomy devices market in 2023. The regions covered in the ostomy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The ostomy devices market report table of contents includes:
1. Executive Summary
2. Ostomy Devices Market Characteristics
3. Ostomy Devices Market Trends And Strategies
4. Ostomy Devices Market – Macro Economic Scenario
5. Global Ostomy Devices Market Size and Growth
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32. Global Ostomy Devices Market Competitive Benchmarking
33. Global Ostomy Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ostomy Devices Market
35. Ostomy Devices Market Future Outlook and Potential Analysis
36. Appendix
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