The global Bowel Management Industry is hampered by discomfort associated with the use of bowel management devices and patient preference for non-invasive clinical management of fecal incontinence. Development of low-cost bowel management systems and disparities in reimbursement for bowel management Products in emerging countries are some of the opportunities which are expected to fuel the growth of this market in coming years.
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The Global Bowel Management Industry is projected to grow with a CAGR of XX% by 2025. The global bowel management systems market has gained remarkable growth due to surging aging population coupled with expanding target patient population. Furthermore, increasing innovative Product launches and favorable reimbursement scenario in developed countries are propelling the growth of the Bowel Management System market.
Growth in the Bowel Management Industry 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.
Major players in the Bowel Management Industry are – Coloplast (Denmark), Medtronic (Ireland), 3M (US), B. Braun (Germany), C.R. Bard (US), ConvaTec (UK), 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).
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Regionally, North America has been the second largest Bowel Management Industry. This market is majorly boosted by the growing healthcare expenditure and significant rise in colorectal/bladder cancers. In addition to this, Rest of the world is expected to grow at a lucrative growth rate during the forecast period. Increasing focus towards healthy lifestyles and favorable reimbursement policies, are believed to be the market drivers of bowel management systems in this region.
Bowel Management industry Target Audience:
* Bowel Management System providers
* Traders, Importer and Exporter
* Raw material suppliers and distributors
* Research and consulting firms
* Government and research organizations
* Associations and industry bodies
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Bowel Management Industry Based on Product, the market is segmented into colostomy bags, irrigation systems, nerve modulation devices (NMD) and other Products and accessories (radiofrequency devices, surgical implants, artificial anal sphincters, anal plugs, colostomy accessories etc.). The colostomy bags held the largest market share and is anticipated to flourish at a lucrative rate. Increasing number of target patient population and patient awareness regarding colostomy care are propelling this segment growth.
Based on patient Product, the global Bowel Management Industry is segmented into adult and pediatric. Among various patients, the adults held the largest share of the bowel management systems market in 2017, due to increasing prevalence of fecal incontinence among them.
Europe accounted for the largest market share in 2017, followed by North America and Asia-Pacific. Factors such as high-quality healthcare facilities, surge in aging population and increasing prevalence of bowel problems are fuelling the growth of bowel management systems in Europe.
The Bowel Management Industry is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective like analyst report of investment banks. The secondary research forms the base of our study where we conducted extensive data mining, referring to verified data sources such as white papers government and regulatory published materials, technical journals, trade magazines, and paid data sources.
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