Global Bowel Stimulators Market Highlights over 2022 – 2031
The global bowel stimulators market is estimated to grow at a CAGR of ~6.5% over the forecast period, i.e., 2022 – 2031. Bowel stimulator is a nerve stimulator that is surgically implanted to help a patient reduce the number of bowel accidents caused by fecal incontinence. The growth of the market can be attributed to the increasing prevalence of bowel incontinence, in which the patient is unable to control bowel movement. Furthermore, the rising demand for quick, and long-term treatment plans amongst adults, is estimated to fuel the market growth. Along with this, growing adoption of surgeries, favorable medical reimbursement policies, and higher disposable income are some of the common factors estimated to boost the market growth.
Moreover, this disorder is more common amongst the older population, as aging results in loss of control over muscles. As a result, the rising geriatric population across the globe is estimated to boost the market growth. As per the data by the World Bank census, 9.321% of the total population was aged above 65 years, in 2020. This share has significantly increased over the past decade, as only 7.56% of the population was above 65 years of age in 2010.
The market is segmented by application into urinary & fecal incontinence, chronic anal fissure, and others, out of which, the urinary & fecal incontinence segment is anticipated to hold a substantial share in the global bowel stimulators market over the forecast period. Urinary and fecal incontinences are common disorders amongst the elderly, as well as infants and pregnant women. The high prevalence of the disorder is expected to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Bowel Stimulators Market Regional Synopsis
On the basis of geographical analysis, the global bowel stimulators market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing healthcare awareness and availability of medical facilities in the developing countries, combined with the high geriatric population in countries, such as, Japan and China. As per the data by the World Bank, 11.968% of the population in China was aged 65 years and above in 2020.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the higher incidences of bowel and urinary incontinence, along with availability of efficient treatment methods in the region. National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), U.S., published a dataset revealing that amongst people admitted in hospitals and nursing homes, around 18 to 33 patients out of every 100, and between 50 to 70 out of 100 patients have fecal incontinence respectively. Among adults, who are not in hospitals or nursing homes, about 7 and 15 out of 100 individuals have fecal incontinence.
The global bowel stimulators market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global bowel stimulators market includes the following segments:
By Product Type
- External
- Implantable
By Patient Type
- Adult
- Geriatric
- Pediatric
By Application
- Urinary & Fecal Incontinence
- Chronic Anal Fissure
- Others
By End-User
- Hospital
- Clinic
- Ambulatory Surgical Centers
- Others
Growth Drivers
- Increasing Prevalence of Bowel Incontinence
- Rising Share of Geriatric Population Globally
Challenges
- High Cost of Surgical Procedures
- Taboos Associated with Fecal Disorders
Top Featured Companies Dominating the Market
- 3M Company
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Coloplast A/S
- Medtronic plc
- Globus Medical, Inc.
- C. R. Bard, Inc.
- ConvaTec Group plc
- Hollister Co
- Cogentix Medical
- Aquaflush Medical Limited
- Axonics Modulation Technologies
