Market Outlook
Increased research and development activities and rapid incorporation of advanced technology are aiding the healthcare sector for developing advanced treatment solutions. Changing lifestyle and unhealthy dietary habits are accusing various intestinal issue, especially in adults and elderly population. Market Research Future (MRFR) has published a report asserting that the global bowel management systems market is marked to expand steadily at a CAGR of 4.1% and reach the valuation of USD 2.188 Bn by the end of the forecast period from USD 1.72 Bn in 2017.
Market Drivers and Restraints:
Rapid rise in geriatric population and increased healthcare expenditure among the population of various developed and developing regions are majorly fueling the growth of the global bowel management systems market. Increased research and development activities for introducing highly effective treatment solutions and availability of favorable reimbursement policies are some other major factors that are propelling the growth of the global bowel management systems market. However, increasing patient preferences towards adoption of non-invasive medical solutions and concerns regarding the discomfort caused by using bowel management devices are likely to restrain the growth of the global bowel management systems market during the forecast period.
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Regional Outlook:
Geographically, the global bowel management systems market has been segmented into four major regions such as the Americas, Europe, Asia Pacific and the Middle East and Africa. T
he Americas command for the major share in the global bowel management systems market. Rapid adoption of technologically advanced healthcare solutions, high prevalence of intestinal disorders caused due to changing lifestyle and unhealthy dietary habits and rise in geriatric population along with increased healthcare expenditure are some of the factors that are propelling the growth of the global bowel management systems market in this region.
Increased research activities for the development of comfortable bowel management devices and easy adoption of advanced technology are leading to the significant growth of the bowel management systems market in the Europe region.
The Asia Pacific region is projecting fastest expansion in the global bowel management systems market owing to the rapid development of healthcare sector, rise in awareness regarding the availability of effective treatments and rise in geriatric population in this region. Lack of awareness and presence of poor primary healthcare facilities in the underdeveloped areas are acting as restraints on the growth of the bowel management systems market in the Middle East and Africa region.
Competitive Dashboard:
The leading players profiled by MRFR that are operating in the global bowel management systems market are Coloplast (Denmark), Medtronic (Ireland), 3M (the U.S.), Hollister (the U.S.), Aquaflush Medical Limited (the U.K.), B. Braun (Germany), C.R. Bard (the U.S.), Consure Medical (India), Cogentix Medical (the U.S.), Axonics Modulation Technologies (the U.S.), ConvaTec (the U.K.), MBH-International A/S (Denmark), Mederi Therapeutics Inc. (the U.S.), Welland Medical limited (the U.K.), and Wellspect HealthCare (Sweden).
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Segmentation:
The global bowel management systems market has been segmented on the basis of product, patient type and end-user.
Based on product, the bowel management systems market has been segmented into irrigation systems, colostomy bags, nerve modulation devices (NMD) and other products and accessories. The colostomy bags segment commands for the major share in the global bowel management market. Whereas, the nerve modulation devices (NMD) segment is projecting the fastest growth in the global bowel management systems market.
Based on patient type, the bowel management systems market has been segmented into adult patients and pediatric patients. The adult patients segment command for the major share in the global bowel management market.
Based on end-user, the bowel management systems market has been segmented into home care and hospitality and ambulatory surgery centers. The home care segment accounts for the major share in the global bowel management systems market.
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