Ostomy Devices Market to Significantly Increase Revenues Through 2026

1. Ostomy Devices Market Significant Growth, In-depth Analysis, Future Trends and Forecast to 2026

2. An ostomy device is prosthetic medical equipment that provides a way to collect waste from a surgically diverted biological system (colon, ileum, and bladder) and to create a stoma. An ostomy may be essential 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. The Global Ostomy Devices Market is expected to grow at a rate of 4-5% to reach ~3.2 billion by 2026. Rising awareness regarding ostomy care products, growing geriatric population, increasing prevalence of colorectal, bowel, and bladder cancer, favourable reimbursement situations for ostomy devices in developed countries, rising demand for technologically advanced ostomy products, and increasing prevalence of inflammatory bowel diseases are some of the main factors driving the global ostomy devices market. Surge in Usage of Ostomy Drainage Bags Drives the Ostomy Devices Market Depending on the type of surgery a patient suffers, an ostomy bag is primarily used to collect urine or stool after surgery. Nearly 1 in 500 Americans survives with an ostomy drainage bag. About 30% of people with UC may eventually require ostomy bags, either temporarily or permanently. The use of ostomy drainage bags may be permanent in some circumstances, such as the removal of the colon due to colon cancer. These days, bags and pouches are also very discreet and can be worn under almost any kind of clothing.

3. “New product launches and innovations in ostomy devices technologies and designs like one-piece ostomy bags, and two-piece ostomy bags, among others will open up a new frontier for the market to grow in the future. Technology has a key role to play.” - President, Product & Innovation Department, Ostomy Device Company, United States Growing Cases of Colorectal Cancer Drives the Ostomy Devices Market 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. The number of newly diagnosed cases of colorectal cancer is predicted to rise in the coming years. Surgery which is the most common treatment for colorectal cancer results in 10% of the cases in a permanent ostomy which in turn is anticipated to boost the market in the coming years. Explore Premium Report on Ostomy Devices Market @ https://meditechinsights.com/ostomy-devices-market/ Key Challenges/ Constraints: Ostomy Devices Market Even though 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 difficulties include skin irritation, bowel obstruction, dehydration, leakage, parastomal hernia (PH), retraction, and ischemia/necrosis.

4. Asian Ostomy Devices Market Set To Soar • APAC is anticipated to experience strong growth in the coming years, due to the growing geriatric population, and the increasing demand for colostomy in countries such as India, and China as a large number of people suffer from bladder issues in this region. • Companies Adopting both Organic & Inorganic Growth Strategies to Increase their Market Share • Players operating in global ostomy devices market are accepting both organic and inorganic growth strategies such as collaborations, acquisitions, funding, and new product launches to gather market share. • For instance, • In July 2021, Trio Healthcare secured $10 million, the second round of funding from US 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 announced the launch of its brand new ostomy pouch range Aurum® Plus. The new pouch range is available in closed, drainable, and urostomy in various sizes

5. Competitive Landscape Analysis of Ostomy Devices Market Some of the key players operating in the global ostomy devices market include Alcare Co. Ltd., Coloplast A/s, ConvaTec Inc., Flexicare Ltd., Welland Medical Limited, 3M, and Hollister Incorporated, among others. For More Comprehensive Insights, Contact Us @ https://meditechinsights.com/contact-us/ About Medi-Tech Insights Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.  Contact: RutaHalde Associate, Medi-Tech Insights +32 498 86 80 79 info@meditechinsights.com