Nov 14, 2022
Bowel Management Systems Market Manufacturers, Regions, Future, Forecast by 2030
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Bowel Management Systems Market Manufacturers, Regions, Future, Forecast by 2030
Bowel Management Systems Market Manufacturers, Regions, Future, Forecast by 2030
Bowel/fecal incontinence refers to a patient’s inability to control bowel movements, which results in involuntary loss of solid or
The global bowel management systems market is projected to reach USD 2.07 billion by 2023, at a CAGR of 3.5%. Some of the major factors driving the growth of this market are: expanding target patient population, rapidly growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.
The global bowel management systems market is projected to reach USD 2.07 billion by 2023, at a CAGR of 3.5%. Some of the major factors driving the growth of this market are: expanding target patient population, rapidly growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.
Development of the healthcare industry and increase in R&D activities undertaken by key players are expected to boost the market growth during forecast period.
Bowel Management Systems Market - Global Industry Dynamics & Future Growth Prospects
Major Growth Driver: Favorable reimbursement scenario in developed countries The developed countries are reported to have favorable reimbursement scenarios for bowel management products, owing to which the demand for these products is expected to grow positively during the study period. Growth Restraining Factor: Patient preference for non-invasive clinical management of FI Currently, FI can be managed invasively (surgically) or non-invasively. Standard modes of surgical treatment include the injection of biomaterials into the anal canal, radiofrequency treatment of the anal canal, surgical repair of anal muscle injuries, sacral nerve stimulation, artificial bowel sphincter, muscle transposition to reinforce the anal sphincter, and the creation of a stoma. These often require long-term patient rehabilitation and maybe highly inconvenient and even severely painful. As a result, the preference has grown for non-invasive approaches, such as the use of disposable products, medications, dietary and lifestyle changes, exercise, biofeedback, bowel training, transanal irrigation, antegrade colonic irrigation, and electrical stimulation. Additionally, these treatment alternatives are considered by surgeons as the first line of treatment as well. The significant adoption and patient preference for non-invasive treatment alternatives are expected to hamper the optimal growth of the bowel management systems market during the forecast period. Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=45043428 Expected Revenue Growth, Globally: 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. Challenge: Underreporting of FI FI is among the most common pathophysiological medical conditions among the elderly population and women worldwide. Geriatric women are exposed to a greater risk of FI due to anal sphincter damage during pregnancy and childbirth. However, most patients suffering from FI are reluctant to report their clinical condition mainly out of embarrassment. Healthcare professionals also often fail to inquire about FI due to insufficient training regarding the latest options of FI treatment. Thus, reluctance on the part of patients to report fecal incontinence is expected to be a key barrier for the optimal adoption of bowel management systems across respective geographies during the study period. “The RoW is expected to grow at the highest rate during the forecast period.” The Rest of the World (RoW) comprises countries in Latin America (including Brazil, Mexico, Peru, and Chile), the Middle East (including Egypt, Iran, Turkey, and Iraq), and Africa (including South Africa, Egypt, Ghana, and Nigeria). Rising market growth can be attributed to the growing target patient population, the ongoing expansion of healthcare infrastructure, and initiatives to enhance patient awareness. Recent Developments: # In 2018, Coloplast acquired IncoCare, a provider of continence products. This acquisition helped Coloplast expand its presence in Germany. # In 2018, Axonics received marketing approval for its Axonics Sacral Neuromodulation System in Australia. # In 2018, Coloplast expanded its product portfolio by introducing a new product, SenSura Mio Concave, into its SenSura Mio product line. # In 2016, ConvaTec entered into an agreement with Vizient, Inc. According to this agreement, members of Vizient get access to ConvaTec’s stoma care, bowel management, and patient skincare products. # In 2016, A German court affirmed ConvaTec’s patent protection on Flexi-Seal Fecal Management System and ordered the competitor to cease from placing its product (infringing patent) in the market, as well as to recall its product already sent to market and to compensate ConvaTec. Global Key Players: 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). 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. Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=45043428
The global bowel management systems market is projected to reach USD 2.07 billion by 2023, at a CAGR of 3.5%. Some of the major factors driving the growth of this market are: expanding target patient population, rapidly growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.
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%.
Growth in the bowel management systems market is mainly driven by factors such as the expanding target patient population, the rapidly growing geriatric population, availability of technologically advanced bowel management products, and the favorable reimbursement scenario in developed countries.