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Key Players & Growth Strategies Adopted by Them in the Bowel Management Systems Market

(Medical-NewsWire.com, November 24, 2020 ) Market Dynamics



Driver: Favorable reimbursement scenario in developed countries



The developed countries are reported to have favorable reimbursement scenarios for bowel management products, owing to which the demand for these products is expected to grow positively during the study period.



Restraint: Patient preference for non-invasive clinical management of FI



Currently, FI can be managed invasively (surgically) or non-invasively. Standard modes of surgical treatment include the injection of biomaterials into the anal canal, radiofrequency treatment of the anal canal, surgical repair of anal muscle injuries, sacral nerve stimulation, artificial bowel sphincter, muscle transposition to reinforce the anal sphincter, and the creation of a stoma. These often require long-term patient rehabilitation and maybe highly inconvenient and even severely painful.



Expected Revenue Surge:



The global bowel management systems market is projected to reach USD 2.07 billion by 2023, at a CAGR of 3.5%.



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Major Growth Boosters:



Growth in the bowel management systems market is mainly driven by factors such as the expanding target patient population, the rapidly growing geriatric population, availability of technologically advanced bowel management products, and the favorable reimbursement scenario in developed countries.



Global Leaders:



Some of the major players operating in the bowel management systems market are Coloplast (Denmark), Medtronic (Ireland), 3M (US), B. Braun (Germany), C.R. Bard (US), Consure Medical (India), Cogentix Medical (US), Aquaflush Medical Limited (UK), Axonics Modulation Technologies (US), ConvaTec (UK), Hollister (US), MBH-International A/S (Denmark), Mederi Therapeutics Inc. (US), Welland Medical limited (UK), and Wellspect HealthCare (Sweden).



An analysis of market developments between 2015 and 2018 revealed that growth strategies such as product launches and approvals, agreements, expansions, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the bowel management systems market. Among these, product launches and approvals were the most widely adopted growth strategies.



As of 2017, Coloplast (Denmark) is the key player in the global bowel management systems market. The company’s growth in the bowel management systems market is supported by its strong pipeline of products, sustained cost discipline, and adoption of new growth strategies to enhance its product portfolio based on new technologies available in the market. The company’s large share of the market was also supported by the launch of its SenSura Mio product portfolio in various important markets and the acquisitions of various regional players in the continence and ostomy market.



As of 2017, ConvaTec (UK) is among the key manufacturers of bowel management systems. The company markets a comprehensive product portfolio of ostomy systems, accessories, and fecal incontinence products to address customer needs and preferences.



As of 2017, Hollister (US) holds a significant share in the global bowel management market owing to its targeted product portfolio of bowel care products, which serves as an important factor for its future growth. The company is focusing on expanding its presence across the globe through various inorganic strategies. In May 2018, the company established a new distribution center in Oud Gastel, in the Netherlands. This new center is aimed at catering to the growing customer needs and it will help the company strengthen its presence in the European region. Thus, with the growing efforts of the company to expand its critical care segment, the company is expected to witness growth in the bowel management systems market in the coming years.



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