Ostomy Devices Market Report

The high prevalence of inflammatory bowel disorders (IBD), increasing rates of urine incontinence (UI), including colorectal cancer and ulcerative colitis or Crohn's disease, resulting in increased ostomy surgery cases, are the primary factors leading to the market's growth. The National Library of Medicine estimates that the global number of new CRC cases would reach 3.2 million by 2040. According to the Centres for Disease Control and Prevention (CDC), an estimated 3.1 million persons (1.3%) in the United States have inflammatory bowel disease (IBD). Around 70,000 new cases of IBD are reported to be identified in the US each year, according to the Crohn's & Colitis Foundation. The number of children with IBD in the US might reach 80,000. Furthermore, the increasing incidence of ostomy care indications such as inflammatory bowel disease, bowel cancer and colorectal cancer is increasing the patient pool for ostomy procedures. During the forecast period, this is likely to boost the market for ostomy devices.

The majority of patients are unaware of the ostomy devices available on the market. The availability of substitutes for intestine waste removal is restricting the market expansion for ostomy devices. Due to the unfavourable reimbursement policies in developed nations like as the United States, the market for ostomy devices is increasing slowly. Despite the fact that Medicare and other insurance companies provide coverage, the percentage of reimbursement for ostomies in developed countries is extremely low. Stomas are an extremely common and safe surgical operation, although they do not come without complications and risks. The majority of ostomy procedures are successful; however, consequences can be severe and in rare cases deadly. During the treatment or recovery phase, complications may occur. Common problems include skin irritation, intestinal blockage, dehydration, leaking, parastomal hernia (PH), retraction, prolapsed, ischemia/necrosis and injury to other abdominal organs. These are the factors that are hampering market expansion.

Collaboration and introducing new products play a key role in boosting the ostomy devices market's expansion. Partnerships between businesses and healthcare professionals result in the creation of new, cutting-edge products that cater to individual patient requirements and enhance well-being. One example is when manufacturers and research institutions work together to develop improved ostomy solutions that have better comfort and functionality. At the same time, new technologies and better designs are constantly being introduced through frequent product launches to meet changing market needs and enhance patient satisfaction. Furthermore, the incorporation of digital health devices for enhanced control and supervision also aids in driving market expansion by providing extensive assistance and up-to-date information. Therefore, the ongoing development of ostomy devices is playing a key role in driving the market's growth and higher levels of acceptance. For instance, Coloplast, one of the world's top makers of stoma care solutions, launched its new innovative product, the SenSura Mio, in Singapore this year in February 2022.

A rising incidence of urinary incontinence, urine retention and a growth in the number of geriatric populations with bladder issues and diverticular diseases all contributed to the U.S. dominating the market in North America and accounting for the largest revenue share. As per the National Association for Continence, adults over the age of 40 are more likely to suffer from Overactive Bladder (OAB) and urinary urgency. Furthermore, one of the key causes projected to boost the need for ostomies is the rising frequency of diverticular disease. According to the United Ostomy Associations of America, from 725,000 to 1 million Americans have an ostomy, and over 100,000 new life-saving ostomy procedures are performed in the United States annually. This is expected to boost demand for ostomy devices.