The global Bowel Management Systems market gathered revenue around USD 2.1 Billion in 2020 and market is set to grow USD 2.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.1% during the prediction period 2021 to 2027. Rise in prevalence of fecal incontinence, increase in geriatric population, and technological advancements are the major factors anticipated to propel the global bowel management systems market during the forecast period. North America held a major share of the global bowel management systems market in 2020 due to high healthcare spending, advanced healthcare infrastructure, and high awareness about bowel management devices. The bowel management systems market in Asia Pacific is expected to expand at a high CAGR of 5.2% from 2021 to 2027 due to increase in healthcare expenditure and geriatric population in the region.
This report analyzes the current scenario and future prospects of the global bowel management systems market. Rise in prevalence of fecal incontinence, increase in geriatric population, and surge in acceptance of bowel management products are key factors projected to drive the global bowel management systems market during the forecast period.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Bowel Management Systems market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Bowel Management Systems market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Bowel Management Systems market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities
In terms of region, the global bowel management systems market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global bowel management systems market during the forecast period. High prevalence of fecal incontinence and increase in geriatric population are the major factors driving the market in the region. According to the Population Reference Bureau, the geriatric population in the U.S. is anticipated to double from 53 million in 2018 to 96 million by 2060.
The market in Europe is expected to expand at a high CAGR in the near future, owing to the presence of local as well as global players and an increase in the demand for bowel management systems devices in the region. The bowel management systems market in Asia Pacific is likely to grow at a rapid pace in the near future. Rise in awareness and increase in healthcare expenditure in countries in the region are projected to propel the market in Asia Pacific over the next few years. Japan, India, and China are anticipated to be lucrative markets for bowel management systems during the forecast period.
Bowel Management Systems Market: Key Segments
In terms of product, the global bowel management systems market has been bifurcated into systems and accessories. The systems segment dominated the global market in 2020, owing to increase in approvals for the advanced bowel management systems. For instance, Medtronic received the U.S. FDA approval for its InterStim Micro neurostimulator and InterStim SureScan MRI leads for bladder and bowel control conditions in 2020.
Additionally, the systems segment has been split into colostomy bags, irrigation systems, sacral neuromodulation systems, and others. The accessories segment has been segregated into plugs, catheters, implants, anal sphincters, stool bags, and others.
Based on patient type, the global bowel management systems market has been classified into adult and pediatric. The adult segment dominated the global market in 2020, owing to high prevalence of fecal incontinence among adult population.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Bowel Management Systems Market are:
The global bowel management systems market are Axonics, Inc., Becton, Dickinson and Company, B. Braun Melsungen AG, Coloplast Group, ConvaTec Group, plc, Consure Medical, Hollister Incorporated, Laborie Medical Technologies, Corp., ProSys International Ltd., Renew Medical, Inc., Welland Medical Limited, Qufora A/S, Medtronic, Wellspect HealthCare, and TG Eakin.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Bowel Management Systems Market: Segmentation
- Bowel Management Systems Market, by Product
- Systems
- Colostomy Bags
- Irrigation Systems
- Sacral Neuromodulation Systems
- Others
- Accessories
- Plugs
- Catheters
- Implants
- Anal Sphincters
- Stool Bags
- Others
- Bowel Management Systems Market, by Patient Type
- Bowel Management Systems Market, by End User
- Hospitals
- Ambulatory Surgical Centers
- Home Care Settings
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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