Ileostomy refers to the surgical procedure where a part of the small intestine is diverted through an opening in the abdominal wall. It is commonly performed on patients suffering from Crohn’s disease, ulcerative colitis or colorectal cancer. Ileostomies help managing symptoms by allowing bowel movements to occur through the stoma which is created on the abdominal wall. Products associated with ileostomy include ostomy pouches, belts and accessories which collect and contain waste materials discharged from the intestine. These products provide comfort, discretion and confidence to patients. Rising prevalence of inflammatory bowel disease and colorectal cancer has increased the demand for ileostomy products worldwide.
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 are Coloplast Corp, ConvaTec Inc., Hollister Incorporated, Marlen Manufacturing & Development Company, Perma-Type Company, Inc. Key players operating in the global ileostomy 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., Welland Medical Limited.
The growing demand for ileostomy products is attributed to factors such as rising prevalence of inflammatory bowel disease and increasing number of colorectal cancer procedures worldwide. According to industry estimates, over 3 million people in the U.S. alone suffer from IBD with approximately 70,000-100,000 new cases reported annually.
Major players are focusing on global expansion to consolidate their market shares in high potential markets. Favorable reimbursement scenario for ostomy products coupled with initiatives aimed at raising awareness about ostomy care are contributing to the growth of ileostomy markets in developed regions. Meanwhile, market players eye promising opportunities in developing Asian and Latin American countries due to scarcity of specialized medical care and low product awareness in these regions currently.
Market Key Trends
Rising adoption of one-piece ostomy bag systems is a major trend being witnessed in the Global Ileostomy Market Demand. Compared to traditional two-piece systems, one-piece bags provide leakage protection, discretion and easier application. Their user-friendly adhesive technology has accelerated their popularity among ostomates. Moreover, advancements in hydrocolloid adhesives and newly formulated polymers have improved the barrier function and flexibility of one-piece bags, addressing prior challenges with their extended wear times. This has driven their preferability over two-piece bags, helping manufacturers achieve strong sales growth.
Porter’s Analysis
Threat of new entrants: Low costs to enter the market and develop ileostomy products but established players dominate distribution channels and have significant brand recognition.
Bargaining power of buyers: High buying power due to presence of few major distributors globally negotiating better pricing.
Bargaining power of suppliers: Raw materials and components required are commodity in nature with many suppliers so supplier power is weak.
Threat of new substitutes: No close substitutes to ileostomy products currently though ongoing R&D for alternatives.
Competitive rivalry: Intense competition among established players such as Coloplast, ConvaTec and others to gain market share through innovation and continuous product improvement.
Geographical regions where market in terms of value is concentrated:
North America accounts for the largest share in value terms due to higher acceptance of ileostomy products along with favorable reimbursement policies and healthcare infrastructure. Presence of major players in the region also contributes to its market dominance.
Fastest growing region for the market:
Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to rising incidence of bowel disorders, growing healthcare expenditure, increasing awareness about ostomy procedures and expanding medical tourism in countries like India and China.