Bowel Management System Market growing with the growth of geriatric population
Intestinal problems such as fecal incontinence and constipation among adults are becoming very common these days on account of rapid change in lifestyles and unhealthy dietary habits. Rise in population and dietary imbalance are also a cause of intestinal issues. With technology advancements in the medical and healthcare segment, these intestinal problems are being dealt and managed with the help of bowel management systems. Irrigation systems, colostomy bags, and nerve modulation devices (NMD) are the devices used in bowel management systems. These devices are used in hospitals as well as for home care purposes.
Drivers and restraints of the Bowel Management System Market
The market for Bowel Management Systems is witnessing steady growth on account of the rapidly growing geriatric population worldwide. According to the International Foundation of Gastrointestinal Disorder (IFFGD) around 10-15% of the global population has Irritable bowel syndrome (IBS). Moreover, favorable reimbursement scenario in the developed economies along with the technological advancement in the bowel management systems are further contributing to the bowel management systems market growth. Rapid change in lifestyles and unhealthy dietary habits are also contributing to the increasing bowel management system market size. However, concerns regarding the discomfort associated with the use of bowel management devices and patient’s preference towards noninvasive clinical methods are expected to hinder the market growth.
Geographically, the market of the bowel management system is segmented as North America, Europe, South America, Asia Pacific, and the Middle East. Europe region is expected to have a significant market share of the global bowel management system market share. The market share is projected owing to significant colorectal/bladder cancer & IBD disease burden, favorable reimbursement scenario, and the increase in its geriatric population. North America region is also expected to have a significant market share on account of technological advancements in the bowel management system, high geriatric population, and increasing related diseases in the region. The market of Asia Pacific region is expected to witness significant growth due to continuous government support and rising awareness in the region.
By product, the market is segmented as irrigation systems, nerve modulation devices (NMD), and colostomy bags. Colostomy bags are expected to have a significant market share on account of the increasing number of patients coupled with rising awareness about the benefits of colostomy care among the patients, increasing accessibility of medical reimbursement policies for colostomy products across developed economies. However, irrigation systems are expected to witness substantial growth in the coming years.
By end-user, the bowel management systems market is segmented as hospitals and home care. The home care segment is expected to have a significant market share due to the significant usage and growing adoption of bowel management products in home care settings and the rising incidence of diseases.
According to industry research conducted by Knowledge Sourcing Intelligence, major industry players profiled as part of the market are Cogentix Medical, Hollister Incorporated, Mbh-International A/S, Mederi Therapeutics Inc. B. Braun, Aquaflush Medical Limited and Consure among others.
Key Questions Answered in This Report:
· What are the key regions having a significant market share of the market?
· What is the market segmentation of the bowel management system market?
· What are the drivers and restraints of the market?
· Who are the key market players in the market?
· Who are the end-users of the market?