Industry Background:
An ileostomy is made during surgical operations with the purpose of removing body wastes through an opening with the help of plastic bags. Growing geriatrics population has led to rise in demand of such equipment. Consumers are attracted towards durable and water proof comfortable ileostomy equipment solution which provides a lucrative opportunity for manufacturers to focus on products developments.This growth is primarily driven by Rising Occurrence of Bladder or Bowel Related Diseases and Growing Number of Geriatrics Population.
Globally, a noticeable market trend is evident Growing Awareness About Use of Ileostomy Equipment
. Major Players, such as 3M Healthcare [United States], Coloplast [Denmark], B. Braun Melsungen [Germany], Flexicare Medical [United Kingdom], Convatec [United Kingdom], Hollister Incorporated [United States], Marlen Manufacturing [United States], Salts Healthcare [United Kingdom], Smith & Nephew [United Kingdom] and Pelican Healthcare [United Kingdom] etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rising Occurrence of Bladder or Bowel Related Diseases
- Growing Number of Geriatrics Population
Market Trend
- Growing Awareness About Use of Ileostomy Equipment
- Rising Demand for Comfortable and Durable Apparatus
Restraints
- Availability of Alternative Surgical Methods
- Lack of Favorable Reimbursement Policies In Emerging Countries
Opportunities
Growing Medical Tourism in Countries Where Treatment Cost is Low Such as India and Rising Health Budget in Emerging Countries
Challenges
Risk Associated with Its Use and Cutting Down the Cost of Equipment
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