Bowel Management Systems Market: Introduction
According to the report, the global bowel management systems market was valued at ~US$ 2 Bn in 2020 and is projected to expand at a CAGR of ~4% from 2021 to 2031. 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 5.1% from 2021 to 2031 due to increase in healthcare expenditure and geriatric population in the region.
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Rise in Prevalence of Fecal Incontinence to Drive Market
Fecal incontinence is among the most common pathophysiological medical conditions found in the geriatric population and women, worldwide. Fecal incontinence significantly affects a patient’s quality of life. Bowel management systems play an important role in improving the lifestyles of people suffering from the disorder and making their condition better. The rise in prevalence of fecal incontinence is projected to drive the global bowel management systems market during the forecast period.
An article published by the National Center for Biotechnology Information in 2020 stated that the overall reported prevalence of fecal incontinence ranges from 2% to 21%, with a median of 7.7%.
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High Adoption of Bowel Management Systems
In terms of product, the global bowel management systems market has been bifurcated into systems and accessories. The systems segment dominated the global bowel management systems market in 2020, and the trend is anticipated to continue during the forecast period. The growth of the segment can be attributed to increase in rate of adoption of bowel management systems in emerging markets.
Increase in Demand for Bowel Management Systems for Adults
In terms of patient type, the global bowel management systems market has been classified into adult and pediatric. The adult segment held a major share of the global bowel management systems market in 2020. Fecal incontinence is more common in adults due to greater prevalence of neurologic diseases and weaker muscle tone.
Hospitals to be Major End Users
Based on end user, the global bowel management systems market has been divided into hospitals, ambulatory surgical centers, and home care settings. The hospitals segment dominated the market in 2020, owing to a large patient base and high adoption of bowel management systems in hospitals.
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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 52 million in 2018 to 95 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.
Growth Strategies of Key Players
Key players operating in 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. These companies engage in research & development to develop novel products in order to expand product offerings and customer base. 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.
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