Bowel Management Systems Market - Emerging Trends & Global Future Forecasts


Posted January 27, 2021 by mmvaidya

Bowel/fecal incontinence refers to a patient’s inability to control bowel movements, which results in involuntary loss of solid or liquid stool.
 
Bowel/fecal incontinence refers to a patient’s inability to control bowel movements, which results in involuntary loss of solid or liquid stool. It is caused due to diarrhea, constipation, weaker muscle tone (that controls the opening of the anus), and chronic medical conditions (such as diabetes, multiple sclerosis, and nerve damage). The clinical devices used to manage bowel activity are called bowel management systems

The global bowel management systems market is projected to reach USD 2.07 billion by 2023 from USD 1.74 billion in 2018, at a CAGR of 3.5% during the forecast period.

Some of the major factors driving the growth of bowel management systems market are: expanding target patient population, rapidly growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.

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End Users:

The bowel management systems market is segmented, by end user, into home care and hospitals & ambulatory surgery centers. The home care segment is expected to register the highest growth rate of the bowel management systems market during the forecast period, owing to the factors such as the significant usage and growing adoption of bowel management products in home care settings, and need for device replacement on a regular basis.

Geographical Growth:

In 2018, Europe accounted for the largest share of the bowel management systems market

Geographically, the bowel management systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest share of the market in 2018. The large share can be attributed to the significant disease (colorectal/bladder cancer & IBD) burden, favorable reimbursement scenario, and the increase in its geriatric population.

Global Leaders:

Some of the major players operating in the bowel management systems market are Coloplast (Denmark), Medtronic (Ireland), 3M (US), B. Braun (Germany), C.R. Bard (US), Consure Medical (India), Cogentix Medical (US), Aquaflush Medical Limited (UK), Axonics Modulation Technologies (US), ConvaTec (UK), Hollister (US), MBH-International A/S (Denmark), Mederi Therapeutics Inc. (US), Welland Medical limited (UK), and Wellspect HealthCare (Sweden).

Major Growth Strategies Adopted by Them:

An analysis of market developments between 2015 and 2018 revealed that growth strategies such as product launches and approvals, agreements, expansions, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the bowel management systems market. Among these, product launches and approvals were the most widely adopted growth strategies.

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Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags Bowel Management Systems Market , Bowel Management Systems
Last Updated January 27, 2021