Bowel Management Systems Market - Favorable Reimbursement Scenario in Developed Countries

Bowel/fecal incontinence refers to a patient’s inability to control bowel movements, which results in involuntary loss of solid or liquid stool. It is caused due to diarrhea, constipation, weaker muscle tone, and chronic medical conditions.

(EMAILWIRE.COM, June 08, 2021 ) The global bowel management systems market is projected to reach USD 2.07 billion by 2023, at a CAGR of 3.5%.

Some of the major factors driving the growth of this market are: expanding target patient population, rapidly growing geriatric population, availability of technologically advanced bowel management products, and favorable reimbursement scenario in developed countries.

“By product, colostomy bags segment to witness the highest growth during the forecast period"

The colostomy bags segment is expected to account for the largest share of the bowel management systems market.

“By patient type, Adult patients segment to grow at the highest rate during the forecast period.”

The adult patient segment is estimated to account for the larger share of the bowel management systems market. While fecal incontinence (FI) affects individuals of all ages, it is more common in middle-aged and older adults due to their greater prevalence of neurologic diseases and weaker muscle tone. Additionally, the prevalence of FI is reported to be twice among women as compared to men, owing to the risk of injuries to the anal sphincter during childbirth

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=45043428

“The home care segment will grow at a higher CAGR during the forecast period.”

Factors such as the significant usage and growing adoption of bowel management products in home care settings, need for device replacement on a regular basis, and rising incidence of chronic disorders are expected to support the growth of the home care segment during the forecast period

“The RoW is expected to grow at the highest rate during the forecast period.”

The Rest of the World (RoW) comprises countries in Latin America (including Brazil, Mexico, Peru, and Chile), the Middle East (including Egypt, Iran, Turkey, and Iraq), and Africa (including South Africa, Egypt, Ghana, and Nigeria). Rising market growth can be attributed to the growing target patient population, the ongoing expansion of healthcare infrastructure, and initiatives to enhance patient awareness.

Recent Developments:

# In 2018, Coloplast acquired IncoCare, a provider of continence products. This acquisition helped Coloplast expand its presence in Germany.

# In 2018, Axonics received marketing approval for its Axonics Sacral Neuromodulation System in Australia

# In 2018, Coloplast expanded its product portfolio by introducing a new product, SenSura Mio Concave, into its SenSura Mio product line.

# In 2016, ConvaTec entered into an agreement with Vizient, Inc. According to this agreement, members of Vizient get access to ConvaTec’s stoma care, bowel management, and patient skincare products.

# In 2016, A German court affirmed ConvaTec’s patent protection on Flexi-Seal Fecal Management System and ordered the competitor to cease from placing its product (infringing patent) in the market, as well as to recall its product already sent to market and to compensate ConvaTec.

Key Players:

Some of the major players operating in the bowel management systems market are Coloplast (Denmark), Medtronic (Ireland), 3M (US), B. Braun (Germany), C.R. Bard (US), 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).

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=45043428

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com