Market Challenges: High cost of ostomy surgeries and products

The high cost of ostomy surgeries and associated products can drive the global ileostomy market growth. Ostomy surgeries that involve formation of a stoma and diversion of the flow of bowel contents are often performed as a life-saving procedure for conditions like colorectal cancer, inflammatory bowel disease, and others. However, these complex surgeries and the postoperative care are expensive. The costs related to an ostomy do not end after the initial surgery. Patients require specialized ostomy pouches, wafers, irrigation systems and other accessories on an ongoing basis for effective ostomy management. While these products enhance the quality of life and empower ostomates, these come at a substantial recurring expenditure. According to the data published by the U.S. Agency for Healthcare Research and Quality in 2021, the average annual cost of ostomy supplies per person in the U.S. ranged from US$ 3,000 to US$,10,000 depending on the type of ostomy and individual requirements. This financial burden acts as a deterrent for optimal follow up and compliance to stoma care guidelines, compromising health outcomes. Poverty and lack of health insurance further shrink access to ostomy care, especially in developing nations. According to the data from World Bank, over 735 million people globally still do not have basic health coverage. Catastrophic health expenditure poses serious financial risks. Various international charities try to bridge the affordability gap through donation of supplies. However, the scale remains limited in comparison to the actual needs of the ostomate population worldwide.

Market Opportunities: Development of customized ostomy products

Development of customized ostomy products can offer opportunity for global ileostomy market growth. Currently available standard products are often not a good fit for all bodies and lifestyles, leading to frequent leaks, discomfort and embarrassment. Customized solutions tailored to each individual's anatomy, lifestyle and preferences have potential to drastically improve patients' quality of life. Several startups are currently working on 3D scanning and printing technology to design ostomy pouches and accessories customized for each person. This allows products to perfectly contour and seal around the stoma, with optimal cut-outs for hernias or other irregularities. Customization also extends to discretion and fashion - pouches can be constructed in various skin tones and under different garments. This helps boost patients' confidence and empower them to freely participate in all activities. The technology is continuously advancing to produce stronger, more flexible materials while maintaining an affordable cost. Rising awareness about such customized options can boost their demand. In 2021, according to the report published by the World Health Organization, over 2.5 million new cases of colorectal cancer were reported worldwide in 2020, and this figure will increase to 4 million new cases by 2040. Since ostomy surgery is a common treatment, the annual number of ileostomy procedures is bound to increase steadily.