Transparency Market Research (TMR) has published a new report
titled, “Bowel
Management Systems Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2018–2026”. According to
the report, the global bowel management systems
market was
valued at US$ 1,682.95 Mn in 2017 and is projected to expand at a CAGR of 3.70%
from 2018 to 2026. Increase in the prevalence of fecal incontinence and
constipation in elderly population and rising geriatric population are
anticipated to boost the global market from 2018 to 2026. North America and
Europe are expected to dominate the global bowel management systems market in the
next few years, owing to new product launches, demand for technologically
advanced bowel management systems in developed countries, and proactive
population seeking physicians’ advice for bowel management. Key players
operating in the global bowel management systems market strive to enter into
distribution agreements and strategic acquisitions in order to strengthen their
footprint across the world.
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Systems segment to expand at
prominent growth rate
The report offers detailed segmentation of the global bowel
management systems market. Based on product, the market has been segmented into
systems and accessories. The systems segment is expected to propel at a high
growth rate owing to the rising demand for minimally invasive treatment options
due to their effectiveness and cost-efficiency. The irrigation systems
sub-segment holds a major share of the systems segment owing to the ease of use
and effectiveness of the treatment. These help improve the quality of life,
prevent infections, provide odor control, and reduce daily nursing time.
Adult segment to expand at rapid
pace
The adult segment is likely to expand at a high CAGR during the
forecast period, owing to increase in the geriatric population. Additionally,
rising life expectancy, owing to the decline in the mortality rate, fuels the
market. For instance, in the U.S., according to Population Reference Bureau
Report, the geriatric population, over 65 years of age, is anticipated to reach
more than 98 Mn by 2060, from 46 Mn in 2017. Moreover, increasing longevity
among the geriatric population, which reached 79 years in 2013 from 68 years in
1950, would propel the market.
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Hospitals segment held major share
In terms of end-user, the global bowel management systems market
has been divided into hospitals, ambulatory surgical centers, and home-care
settings. The hospitals segment held a major share of the market in 2017.
Expansion of the segment can be attributed to the rising cases of spina bifida
and anorectal malfunctions among the pediatric population and rise in the
number of surgical procedures such as spinal cord injuries in adults.
Asia Pacific market to be driven
by increase in geriatric population in Japan and India
In terms of revenue, Europe dominated the global bowel management
systems market in 2017. The market in Asia Pacific is anticipated to expand at
a rapid pace during the forecast period. Expansion of the bowel management
systems market in the region is attributed to the increase in geriatric
population and rise in the number of patients suffering from fecal incontinence
and constipation. Additionally, new product launches, changing reimbursement
scenario, rise in awareness among people, and improving healthcare
infrastructure are major factors driving the market in Asia Pacific.
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Strategic acquisitions is the
primary strategy adopted by market players
The report also provides profiles of leading players operating in
the global bowel management systems market. Coloplast A/S, Medtronic plc,
Hollister Incorporated and ConvaTec Group Plc. are major players in the market,
offering products with proprietary technologies. Major market players adopted
the strategy of inorganic growth in order to strengthen their market presence.
For instance, Coloplast acquired direct-to-consumer homecare companies
globally, including IncoCare Gunhild Vieler GmbH in Germany, in 2018; SAS
Lilial in France, in 2017; and Comfort Medical in the U.S., in 2016. Other
players include Cogentix Medical, Inc. (acquired by LABORIE Medical
Technologies), Consure Medical, ProSys International Ltd., Aquaflush Medical
Limited, C. R. Bard, Inc. (acquired by Becton, Dickinson and Company), B. Braun
Melsungen AG, Respiratory Technology Corporation, MBH International A/S, Wellspect
Healthcare (Part of Dentsply Sirona Company), and Axonics Modulation
Technologies.
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