The Ostomy Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ostomy Devices Global Market Report 2024, 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.
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.
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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
Major companies operating in the ostomy device market are developing innovative materials, such as skin-friendly materials, to reduce the risk of skin issues from prolonged device contact and gain a competitive advantage in the market. Integrating skin-friendly materials into ostomy devices involves incorporating non-irritating materials to minimize the risk of skin irritation, allergies, or discomfort arising from prolonged contact with the device. For instance, in June 2021, Welland Medical, a UK-based manufacturer of ostomy bags and accessories, launched a new ostomy pouch range, Aurum Plus, a newly designed ostomy pouch with skin-friendly hydrocolloid material that includes manuka honey. It provides wound-healing and antibacterial properties to the skin around the stoma. It incorporates body-hugging comfort curves to provide comfort and help reduce the risk of the outlet twisting, which can obstruct urine flow.
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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26. South America Ostomy Devices Market
27. Brazil Ostomy Devices Market
28. Middle East Ostomy Devices Market
29. Africa Ostomy Devices Market
30. Ostomy Devices Market Competitive Landscape And Company Profiles
Top Major Players:
- 3M Company
- Henkel AG And Co. KGaA
- Avery Dennison Corporation
- B. Braun Melsungen AG
- Smith & Nephew PLC
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