Bowel Management Systems - On-Going Innovations
Posted by Makarand Vaidya on February 18th, 2020
The report "Bowel Management Systems Market by Product (Irrigation Systems, Nerve Modulation Devices, Colostomy Bags, and Accessories), Patient Type (Adult and Pediatric), End User (Home Care and Hospitals, Ambulatory Surgery Center) - Global Forecast to 2023", 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.
# Bowel management product manufacturers
Growth in the bowel management systems market is mainly driven by factors such as the expanding target patient and growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.
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The colostomy bags segment is expected to form the largest segment during the forecast period.
Based on product, the bowel management systems market is categorized into four major segments, namely, irrigation systems, nerve modulation devices, colostomy bags, and other products & accessories. The colostomy bags segment is expected to account for the largest share in the bowel management systems market in 2018. Increasing number of target patient population, and growing availability of medical reimbursements for colostomy products across developed markets are expected to drive the growth of the colostomy bags segment in the next five years.
Adult patients segment is estimated to register the highest growth rate in the bowel management systems market during the forecast period
The bowel management systems market is segmented, by patient type, into adult and pediatric patients. The adult patients segment is expected to register the highest growth rate in the bowel management systems market during the forecast period, owing to the factors such as the significant prevalence of FI among adults, increased public-private initiatives to enhance patient awareness related to effective FI management, and availability of advanced bowel management products.
The home care segment is estimated to register the highest growth rate in the bowel management systems market during the forecast period
The bowel management systems market is segmented, by end user, into home care and hospitals & ambulatory surgery centers. The home care segment is expected to register the highest growth rate of the bowel management systems market during the forecast period, owing to the factors such as the significant usage and growing adoption of bowel management products in home care settings, and need for device replacement on a regular basis.
In 2018, Europe accounted for the largest share of the bowel management systems market
Geographically, the bowel management systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest share of the market in 2018. The large share can be attributed to the significant disease (colorectal/bladder cancer & IBD) burden, favorable reimbursement scenario, and the increase in its geriatric population.
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The major players of the market include 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).
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
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About the AuthorMakarand Vaidya
Joined: July 3rd, 2019
Articles Posted: 116
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