Key Companies Covered in the Global Bowel Stimulators Market Research Report by Research Nester Are 3M Company, Coloplast A/S, Medtronic plc, Globus Medical, Inc., C. R. Bard, Inc., ConvaTec Group plc, Hollister Co, Cogentix Medical Inc., Aquaflush Medical Limited, Axonics Modulation Technologies, and other key market players.
New York, June 30, 2022 (GLOBE NEWSWIRE) — As per the report by the United Nations, in 2019, there were 703 million people worldwide who were 65 years or older. In 2050, it is expected to increase to around 1.5 billion elderly people worldwide. In the entire world, the percentage of people 65 and older rose from 6% in 1990, to 9% in 2019. By 2050, the percentage is expected to increase to 16%, meaning that 1 in 6 individuals worldwide would be 65 years of age or older. To make sure that their social and health systems are ready to benefit from this demographic transformation, all nations must overcome significant obstacles, mainly the diseases associated with old age.
Research Nester has published a detailed market report on ‘Global Bowel Stimulators Market’ for the forecast period, i.e., 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
Bowel incontinence, a condition in which the patient lacks control over bowel movement, is becoming more common nowadays. The disorder is most prevalent among the elderly population, the age group who are also prone to several type of other diseases. As per the World Health Organization, the percentage of people over 60 years in the world will nearly quadruple from 12 to 22% between 2015 and 2050. People 60 years and older will outnumber youngsters under the age of five by the year 2020. 80% of the world’s elderly population is estimated to reside in low- and middle-income nations by 2050. The growth of the global bowel stimulators market can majorly be attributed to the rising bowel incontinence globally, which is often resulted on account of severe piles, surgery damaging muscles or nerves, and long-lasting constipation or diarrhea most common among children and aged group. As per the World Health Organization, the second most common cause of death in children under the age of five is diarrhea. Around 525 000 children under five die from diarrhea each year. Every year, there are around 1.7 billion cases of pediatric diarrheal illness worldwide.
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The global bowel stimulators market is estimated to grow at a CAGR of ~6.5% over the forecast period. The growth of the market can also be attributed to the rising surgical adoption, advantageous healthcare reimbursement policies, and more expendable income which in turn expected to increase overall health spending, are some of the usual drivers predicted to spur market expansion over the forecast period. As per the World Health Organization, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP up from 8.5 percent in 2000. Additionally, the prevalence cases of fecal incontinence in the patients suffering from chronic healthcare issues such as diabetes, stroke, and spinal cord injuries is predicted to drive market growth over the forecast period. As per the World Health Organization, each year, across the world, 250,000 to 500,000 people suffer a spinal cord injury.
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. Out of these, the market in the North America region is expected to hold the largest market share over the forecast period on account of the higher prevalence of fecal incontinence, as well as the region’s accessibility to effective treatment options. For instance, fecal incontinence affects between 18 to 33 patients out of every 100 hospitalized patients and 50 to 70 patients out of every 100 nursing care residents, respectively in the U.S. Between 7 to 15 out of every 100 adults who are not residents of nursing homes or hospitals experience fecal incontinence. Apart from this, the region’s favorable health policies and growing healthcare sector are projected to attribute to the market growth in the region.
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On the other hand, the bowel stimulators market in the Asia Pacific region is estimated to witness significant market growth over the forecast period on the back of growing healthcare awareness, and availability of medical facilities in developing countries, along with a huge aging population in the region. According to UNFPA, in the Asia Pacific region, one in four persons will be older than 60 by 2050. By 2050, the number of senior people (those over 60 years) in the region will reach around 1.3 billion.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global bowel stimulators market is segmented by type into external and implantable. Out of these, the implantable segment is estimated to hold a significant market share over the forecast period. The growth of the segment can be attributed to the rising prevalence of chronically irritable bowel syndrome (IBS), mainly caused by diarrhea, constipation, rectal prolapse, nerve damage, and neurological disease. For instance, around 11% of people worldwide suffer from IBS. The majority of people who encounter IBS symptoms—around 30% of them—consult a doctor about them. In terms of prevalence, IBS is more common in women globally. Moreover, technological advancements in the health care sector are estimated to fuel segment growth over the forecast period.
Further, the global bowel stimulators market is segmented on the basis of application into urinary & fecal incontinence, chronic anal fissure, and others. Out of this, the urinary & fecal incontinence segment is expected to grow at a significant CAGR over the forecast period owing to increasing cases of permanent disability on account of growing neurological disorders, medication side effects, and stroke. For instance, with an estimated 5.5 million fatalities each year, stroke is the second most common cause of death in the world. In addition to the significant mortality associated with stroke, the substantial morbidity also leaves up to 50% of survivors with long-term disabilities. In addition to this, the increasing awareness among the people and rising healthcare infrastructure are estimated to propel segment growth over the forecast period.
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The global bowel stimulators market is also segmented on the basis of patient type and by end-user.
Global Bowel Stimulators Market, Segmentation by Patient Type
Global Bowel Stimulators Market, Segmentation by End User
Some of the prominent key players and their company profiling mentioned in the global bowel stimulators market research report include 3M Company, 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, and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.
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