NGO’s Active Awareness Programmes Enhance
the Market Growth
Though the term
"ostomy" is not well recognised, rising awareness activities by
non-profit organisations and organisations have raised awareness of the
various ostomy devices on the market. Run for Resilience Ostomy 5K, Ostomy
Awareness Day and other activities have been organised throughout the
world to promote and help ostomates. Donations from associations are also
influencing the ostomy devices industry trends. According to Friends of
Ostomates Worldwide, FOW Canada collected and shipped more than fifty thousand
KG of ostomy devices and literature to more than 52 needy nations. For instance, the United Ostomy Association of
America (UOAA) wants to enhance the quality of ostomy treatment and support
higher standards of care in all healthcare settings. Every year on the first
Saturday of October, the organisation celebrates World Ostomy Day to increase
awareness of ostomy care. These initiatives are anticipated to raise awareness
among consumers regarding stoma care, thus aiding market growth.
Increasing Ostomy
Surgery Rates Offer Lucrative Market Opportunity
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 Mn by 2040. According to the Centres
for Disease Control and Prevention (CDC), an estimated 3.1 Mn 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.
Modern Ostomy Device Innovations are
Encouraging Market Growth
Innovative solutions for reducing
skin infections are being invented by key market participants. In the future
years, the market dynamics are projected to shift due to the development of
hydrocolloids and new technologies for reducing the risk of skin irritation.
According to National Library of Medicine research, around 1/3 of ostomy
patients experienced peristomal skin problems (PSCs) within 90 days after their
operation. The market for ostomy devices is expected to grow with the
introduction of effective and appropriate pouching systems and related
accessories that serve to enhance the quality of life for ostomy patients. For
example, Trio Healthcare has introduced Trio Siltac, a silicone-based ostomy
seal. Trio Ostomy Care is the exclusive provider of silicone-based ostomy
seals. The product covers the skin surrounding the stoma and helps prevent
leaks. These developments are expected to drive market expansion throughout the
forecast period.
Unfavourable
Reimbursement Scenario in Certain Developed Countries Is Inhibiting Growth
in The Industry
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. Because of 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. The reality that consumers must pay for these
devices out of their own pockets contributes to the low adoption rates of
these devices. 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 impeding market expansion.
Coloplast, one of the world's top
makers of stoma care solutions, launches its new innovative product, the
SenSura® Mio, in Singapore this year in February 2022.
Welland announced the debut of
their revolutionary new ostomy pouch range Aurum Plus in June 2021. The
new pouches come in three sizes: closed, drainable and urostomy.
3M, ALCARE Co., Ltd., B. Braun
SE, Coloplast Corp, ConvaTec Group PLC, Flexicare (Group) Limited, Henkel
Adhesives Technologies India Private Limited, Hollister Incorporated Marlen
Manufacturing & Development Company, Nu-Hope Laboratories, Inc., OxMed
International GmbH, Salts Healthcare, Smith+Nephew, Torbot Group, Inc. and
Welland Medical Limited are some of the prominent market players operating in
the global ostomy devices market.
Ostomy Market
Players Have A Big Opportunity in The United States
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 Mn 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.
The report provides a detailed
overview of the ostomy devices market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for ostomy devices market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the ostomy devices market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the ostomy devices market. Some key country and region included in the ostomy
devices market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Ostomy Devices Market Research Report
Covers In-depth Analysis on:
·
Ostomy devices market segments
·
Ostomy devices market dynamics
·
Ostomy devices market value and share analysis
·
Recent trends, restraints, opportunities in ostomy
devices market
·
Companies & competition involved ostomy
devices market
·
Latest technologies in ostomy devices market
·
Supply chain and value chain ostomy devices
market
·
Ostomy devices market sales and distribution
strategies
Ostomy Devices Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Ostomy devices industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on ostomy devices market forecast
by countries
·
Essential information to enhance market position
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