Solid Growth Forecast for Global Ostomy Devices Market

A bright future is in store for the global ostomy devices market.

Medi-Tech Insights predicts the sector to swell 4% to 5% annually to reach $3.2 billion by 2026. Growth drivers include an increasing awareness about ostomy care products; the world’s population; a rising prevalence of colorectal, bowel, and bladder cancer; favorable reimbursement scenarios for ostomy devices in developed countries; rising demand for technologically advanced ostomy products; and the prevalence of inflammatory bowel diseases.

An ostomy device is prosthetic medical equipment that gives a means for the collection of waste from a surgically diverted biological system (colon, ileum, and bladder) 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. An ostomy bag is primarily used to collect urine or stool post-surgery, depending on the type of surgery a patient undergoes. Nearly one in 500 Americans lives with an ostomy drainage bag. About 30% of people with ulcerative colitis will need ostomy bags at some point in time either temporarily or permanently. In some situations, 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.
 
Worldwide, 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 expected that the number of new patients with colorectal cancer will increase in the 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 in the coming years.
 
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 include skin irritation, bowel obstruction, dehydration, leakage, parastomal hernia (PH), retraction, and ischemia/necrosis.
 
Asia-Pacific is expected to witness strong growth in the coming years, due to the growing geriatric population, and the rising demand for colostomy in countries such as India, and China as a large number of people suffer from bladder issues in this region.
 
Some of the key players operating in the ostomy devices market are Alcare Co. Ltd., Coloplast A/s, ConvaTec Inc., Flexicare Ltd., Welland Medical Limited, 3M, and Hollister Incorporated, among others.
 
Players operating in the global ostomy devices market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, funding, and new product launches to garner market share. In July 2021, Trio Healthcare secured $10 million, the second round of funding from U.S. specialist finance company, SWK Holdings Corporation. The funding will support Trio’s R&D and manufacturing as it scales up operations to support a large-scale global roll-out of Trio’s stoma bag, Genii. In June 2021, Welland  launched its new ostomy pouch range Aurum Plus. The new pouch range is available in closed, drainable, and urostomy in various sizes.