Market Trends of Ileostomy Industry
This section covers the major market trends shaping the Ileostomy Market according to our research experts:
Cancer Segment is Dominating the Ileostomy Market.
The major share of the segment is attributed to the growing prevalence of gastrointestinal cancer cases. According to the American Society of Clinical Oncology (ASCO) for the year 2019 an estimated 10,590 adults; 5,610 men and 4,980 women in the United States will be diagnosed with small bowel cancer. The disease is diagnosed most often in people in their 60s and 70s. It is estimated that 1,590 deaths occur in the same year. As per the statistics, the increasing prevalence of cancer cases requiring the surgery grows the market growth propels. Furthermore, the increasing investment in research and development of the products by government initiatives and by the major players is also boosting the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
