According to a new report Global Bowel Management Systems Market, published by KBV research, The Global Bowel Management Systems Market size is expected to reach $2.8 billion by 2025, rising at a market growth of 3.5% CAGR during the forecast period.
The market is bifurcated into adult and pediatric according to the type of patient. In 2018, the adult category recorded the largest market share. Over the forecast period, it is expected to show substantial growth. This increase may be due to the high incidence of adult fecal incontinence. It is a common adult condition affecting about 1 in 12 adults or 18 million people in the U.S. Fecal incontinence is very common and affects about 10.0 percent of the population.
With the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019. The declining trend in market sizes is expected to not only sustain but will also amplify itself in year 2020 hugely disturbing the economies worldwide.
In 2018, the home care segment was leading the sub-category and is expected to sustain this trend over the forecast period as well. The segment's dominance can be attributed to increased use of bowel-management products in-home care settings.
North America recorded a dominant market share in the regional market. The American countries would continue to dominate the market due to the involvement of major industry players such as 3M and Medtronic. Higher bowel management systems adoption rates, combined with patient understanding, well-established healthcare infrastructure and high acceptability of advanced products are among the main factors supporting the region's dominance. Due to the growing incidence of fecal incontinence coupled with the growing geriatric population, Asia Pacific is projected to see the fastest growth during the forecast period. In addition, to drive the market, enormous unmet clinical needs and a tapping need for better treatment have been estimated.
Structural Insights: https://www.kbvresearch.com/bowel-management-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Coloplast Group, 3M Company, Medtronic PLC, B. Braun Melsungen AG, Becton, Dickinson and Company, Axonics Modulation Technologies, Inc., ConvaTec Group PLC, Wellspect Healthcare AB (Dentsply Sirona), Consure Medical, and Prosys International Ltd.
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