Bowel Irrigation Systems Market to reach a valuation of US$ 432.5 Mn by the end of 2032- Persistence Market Research
Market Study on Bowel Irrigation Systems: Balloon Catheter Devices Account for Highest Market Share
New York, May 25, 2022 (GLOBE NEWSWIRE) -- Owing to the surging geriatric population facing bowel management issues, and advancements in bowel irrigation systems, the global bowel irrigation systems market is expected to record a market value of US$ 331.2 Mn in 2022, and is further expected to expand at a CAGR of 2.7% over the forecast period (2022-2032).
Fecal incontinence is one of the most common bowel management issues in the elderly population, which is responsible for other medical conditions such as dementia, neuromuscular dysfunction, as well as stool impaction. According to a study published in the Journal of Gastroenterology and Hepatology (re-published 2021), constipation was highly prevalent in the geriatric population with a prevalence of over 50% in community-dwelling and above 75% in nursing home residents in the U.S.
Government and non-government organizations, globally, are focused on spreading awareness among patients about incontinence issues, enabling them to discuss incontinence problems without the associated social stigma as well as enhancing health care facilities in their regional economies, providing significant growth opportunities to market players.
ERIC, The Children's Bowel & Bladder Charity is a charity organization in the U.K. dedicated to raising awareness and providing training on handling incontinence issues in children and teenagers.
The Government of Australia supports the management and prevention of incontinence through its National Continence Program (NCP).
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Over the last few years, the bowel irrigation systems market has witnessed a surge in agreements and acquisitions in order to increase geographical reach and enhance product portfolio. Key players are focusing on acquiring local players and partnering with large domestic suppliers.
In September 2019, ConvaTec Group Plc entered into an agreement to acquire the assets of Southlake Medical Supplies, Inc.
Key Takeaways from Market Study
By product, balloon catheter devices held the highest market share of 59.3% by value in 2021.
Adults accounted for the highest market share in the age group segment. The segment held 75.4% share in the market by revenue in 2021.
By end user, hospitals are preferred more by patients, and the segment held a market share of around 53.4% in 2021.
Around 31.7% of the global market share, by region, was accounted for by Europe in 2021.
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“Better reimbursement opportunities in developing countries will have a positive impact on the bowel irrigation systems market over the coming years,” says an analyst of Persistence Market Research.
Market Competition
Key suppliers of bowel irrigation systems are adopting strategies such as acquisitions, product launches, and mergers in order to establish their presence in the global market, which results in increased customer bandwidth for manufacturers.
Convatec Group plc finalised the acquisition of Triad Life Sciences Inc. in March of 2022. Convatec Advanced Tissue Technologies will be the new company's name.
In February 2020, Coloplast A/S acquired Inocare Gunhild Vieler GmbH in order to enter the German homecare market.
In September 2020, Renew Medical Inc launched its latest innovation in trans irrigation systems - the Aquaflush Self Retaining Cone.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the bowel irrigation systems market in its latest study, presenting a historical demand assessment of 2017-2021 and projections for 2022 – 2032.
The research study is based on the product (mini devices, cone devices, balloon catheter devices, and bed systems), age group (children and adults), and end user (hospitals, ambulatory surgical centers, clinics, home care settings, and rehabilitation centers), across seven key regions of the world.
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