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IN THE NEWSAugust 24, 2021: Coloplast's SenSura Mio ostomy system has received approval in the U.S. for extended wear, as it reduces leakage while matching or outperforming the wear time of other extended wear products.
October 08, 2020: Laborie Medical Technologies Inc. entered a strategic partnership with Urotronic Inc. to conduct clinical trials for Optilume, a drug-coated balloon (DCB) technology for use in urethral strictures, and benign prostatic hyperplasia (BPH)
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
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.
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:
Our in-depth analysis of the global bowel stimulators market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of bowel and urinary incontinence is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~6.5% over the forecast period, i.e., 2022 – 2031.
High cost of surgical procedures, and the taboos associated with fecal disorders are estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period on the back of high prevalence of bowel incontinency in the region.
The major players in the market are Coloplast A/S, Medtronic plc, Globus Medical, Inc., C. R. Bard, Inc., ConvaTec Group plc, Hollister Co, Cogentix Medical, Aquaflush Medical Limited, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by process type, patient type, application, end-user, and by region.
The geriatric segment is anticipated to hold largest market size in terms of revenue value over the forecast period and display significant growth opportunities.
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