In terms of revenue, the global ileostomy market is projected to expand at a CAGR of ~7% during the forecast period, due to numerous factors, about which, TMR offers comprehensive insights and forecasts in the global Ileostomy market report.
In terms of revenue, the global ileostomy market is projected to expand at a CAGR of ~7% during the forecast period, due to numerous factors, about which, TMR offers comprehensive insights and forecasts in the global Ileostomy market report.
In ileostomy, a stoma is created in the small intestine (ileum), which bypasses the colon, anus, and rectum. An appliance or bag is used to collect all the waste from the ileum. Ileostomy is primarily used in cases when the rectum or colon is not working properly due to diseases such as colon cancer, rectal cancer, familial polyposis, inflammatory bowel disease (IBD), intestinal birth defects, intestinal accident, and intestinal emergency. The ileostomy procedure is carried out in the case of removal of the whole or part of the colon or large intestine. Rise in the prevalence of such chronic diseases is expected to drive the ileostomy market during the forecast period. According to the World Health Organization, cancer is the second leading cause of death, globally. In 2018, cancer accounted for 9.6 million deaths around the world; around 1 in 6 deaths is due to cancer. Rise in the prevalence of colorectal cancer is a major factor fueling the growth of the global ileostomy market. According to the WHO, 1,849,518 new cases of colorectal cancer were reported in 2018, which was 10% of the total cancer cases.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=23285
End Ileostomy Procedure to Dominate Market
The end ileostomy segment accounted for the largest share of the global ileostomy market in 2018. The segment is projected to dominate the global market from 2019 to 2027, gaining market share by 170 basis points. Ileostomy, in which the whole colon and sometimes the rectum is pulled out through the stoma, is called end ileostomy. End ileostomy is mostly performed in case of permanent or temporary displacement of the colon. The end ileostomy segment is expected to expand at a high CAGR during the forecast period. Ileostomy is performed in IBD, colon cancer, intestinal birth defects, and familial polyposis, which mostly require permanent treatment, i.e., end ileostomy. IBD is the most common reason for ileostomy. According to the Centers for Disease Control and Prevention, around 1.0 million to 1.3 million people suffer from inflammatory bowel disease (IBD) in the U.S. and end ileostomy is mostly performed for the treatment of IBD. Hence, the need for permanent treatment is likely to drive the end ileostomy segment.
Request for Analysis of the COVID19 Impact on Ileostomy Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=23285
Stoma Bags to be Highly Attractive Equipment
In terms of equipment, the global ileostomy market has been segmented into stoma bags, belts & girdles, adhesive sprays, and stoma guards. The stoma bags segment dominated the global ileostomy market, accounting for significant share in 2018. The high prevalence of chronic diseases, increase in the geriatric population, and surge in customer awareness programs (World Ostomy Day) are likely to boost the use of stoma bags. Awareness programs such as the celebration of ‘World Ostomy Day’ on the 6th of October will help spread awareness among people, and help them understand the condition better. Japan has undertaken a unique and innovative initiative of designing toilets catering to people carrying stoma bags. Organizations such as the Ostomates and United Ostomy Association of America also help in creating awareness and encourage patients to undergo surgeries. Hence, rise in customer awareness programs is anticipated to increase the use of stoma bags.
High Prevalence of Cancer to Propel Market
In terms of indication, the global ileostomy market has been segregated into cancer, diverticulitis, ulcerative colitis, Crohn’s disease, and others. The cancer segment dominated the global ileostomy market in 2018. A large share of the segment can be ascribed to the high prevalence of cancer across the world, as colorectal and colon cancers mostly require ileostomy surgery. However, the ulcerative colitis segment is anticipated to grow at a rapid pace during the forecast period. Sudden and severe diagnosis of ulcerative colitis is the primary reason for emergency surgery (ileostomy for removal of the colon and rectum). Hence, rise in complications due to ulcerative colitis boosts market growth.
Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=23285
Hospitals to Account for Major Share
Based on end user, the hospitals segment is estimated to constitute a dominant share of the global ileostomy market from 2019 to 2027. A large share of the segment can be attributed to the availability of various specialized surgical procedures in hospitals. However, the ambulatory surgical centers segment is anticipated to expand at a high CAGR during the forecast period. Rapid increase in the number of ambulatory surgical centers, rise in outpatient surgeries, and surge in patient preference for ambulatory surgical centers for surgery boost the growth of the segment.
Europe to Create High Incremental Opportunity
In terms of revenue, Europe is projected to dominate the global ileostomy market from 2019 to 2027. This can be ascribed to the increase in healthcare infrastructure, favorable government support, and major players based in the region. However, the ileostomy market in Asia Pacific is expected to expand at a relatively high CAGR during the forecast period. Developing countries in Asia Pacific such as India and China are expected to outperform their counterparts in the West, owing to low cost of raw materials, low manufacturing costs, and cheap labor. These factors are likely to make Asia the most attractive market in the near future. Additionally, rise in disposable income has fueled the growth of the market in the region, as more people are willing to opt for expensive surgery/treatment, which were not affordable a decade ago.
Request for Discount on this Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=23285
Investments and Mergers & Acquisitions by Key Players to Drive Market
The report provides the profiles of leading players operating in the global ileostomy market. Drive Medical, 3M Healthcare, B. Braun Melsungen AG, Coloplast, ConvaTec, Inc., Flexicare Medical Ltd, Hollister Incorporated, Marlen Manufacturing, Pelican Healthcare, Salts Healthcare, and Smith & Nephew plc are the major players operating in the global ileostomy market. These players have adopted strategies such as mergers & acquisitions and investments to increase their share and presence in the global ileostomy market. In November 2016, Coloplast A/S acquired Comfort Medical, a direct-to-consumer home delivery company, with nationwide distribution of primarily catheters and ostomy supplies in the U.S. This acquisition strengthened the company’s position in the U.S. In January 2017, ConvaTec Group plc acquired EuroTec to strengthen its ostomy business in France, Belgium, and the Netherlands. In May 2018, Hollister Incorporated started a new distribution center to expand its business in the Netherlands.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com