An ileostomy refers to the formation of a stoma (opening) of the small intestine (ileum) through an abdominal wall due to illness or injury of the colon. It helps in diverting waste matter from the intestine to a colostomy bag placed over the abdominal wall. The rising prevalence of diseases such as Crohn's disease and ulcerative colitis that often require ileostomy creation is the primary factor driving the global ileostomy market.
The global ileostomy market is estimated to be valued at US$ 1.90 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031.
Key Takeaways
Global Ileostomy Market Companies market are Coloplast Corp, ConvaTec Inc., Hollister Incorporated, Marlen Manufacturing & Development Company, Perma-Type Company, Inc., Nu-Hope Laboratories, Inc., Perfect Choice Medical Technologies, Fortis Medical Products, Safe n' Simple, AdvaCare Pharma, Schena Ostomy Technologies, Inc., Cymed, TG Eakin Limited, Alcare Diagnostic Research Center Pvt. Ltd., and Welland Medical Limited. These players are focusing on developing innovative ostomy pouches and accessories to improve the quality of life of patients.
The rising awareness about ostomy care products and growing medical reimbursements for ostomy surgeries in developed countries present significant growth opportunities for market players. The market is also witnessing increasing expansion activities by key players in developing regions to tap the existing demand.
The key drivers propelling the global ileostomy market growth include the growing geriatric population worldwide who are more susceptible to inflammatory bowel diseases. According to estimations, ~1.6 million Americans are currently living with an ostomy. Another major driver is the increasing adoption of minimally invasive surgeries over conventional bowel resections owing to the advantages of faster recovery times and lower risk of complications.
However, the high cost of ostomy supplies and social stigma associated with ostomy pouches are some of the major challenges restricting the market growth. Furthermore, frequent changes required in pouches and the risk of complications such as blockage and prolapse also hinder the adoption of ostomy procedures. stringent regulatory approvals for ostomy devices are another roadblock.
In conclusion, the global ileostomy market is driven by the rising disease burden but faces certain restraints related to the procedure's social acceptance and cost burden. Technological advancements to develop patient-friendly products will be crucial for the continued growth of this market.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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