According to Future Market Insights (FMI), the demand for stool management systems is expected to rise significantly, reaching a market value of USD$ 166.5 Mn by the end of 2021.
Stool management systems are designed for bed ridden patients with fecal incontinence, a condition commonly known as bowel incontinence. These systems are used to prevent infections and reduce nursing time requirements.
The stool management systems are advantageous for older adults and patients suffering from constipation and fecal incontinence. Furthermore, it is also helpful for bed-ridden patients who may have been subject to aliments such as strokes, paralysis, or spinal injury.
According to the World Bank, approximately 700 million people were aged 65 and above in the world in 2019. Consequently, the overall high incidence of geriatric populations is resulting in the expansion of the patient pool and the resultant increase in the demand for stool management systems globally.
Fecal incontinence issues are common around the world and it has a notable burden on the economy and healthcare systems of society. The condition has impacted the economic system including hospital charges and nursing charges. Stool management systems help in reducing the nursing time and other hospital expenses.
Key players are focusing on strengthening their mergers and acquisition portfolios, in addition to advancement in technologies and new product launches. Europe holds the highest share in the market due to a vast target demographic, the presence of major market players, and high healthcare expenditure in the region.
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Key Takeaways from stool management system market study
- Systems are key to revenue generation in the stool management systems market surpassing accessories. They are likely to account for 63% value share by the end of the forecast period.
- Luer-lock syringes will lead, with a valuation of over US$ 16 Bn by the end of 2021 owing to security in drug administration processes.
- The U.S. accounts for more than 92% share in the North America market, and will witness growth backed by presence of a well-established healthcare sector.
- Germany and France are leading countries in Europe and will account for more than 18% and 16% of the Europe market respectively in 2021.
- Australia is the largest and fastest growing market in Oceania, exhibiting 6.2% CAGR during the forecast period.
“Increasing geriatric population, technological advancements, and a rising focus on next-gen stool management systems will create lucrative growth opportunities through 2031,” says the Future Market Insights analyst.
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Who is Winning?
The global stool management systems market is set to expand due to the rising number of people suffering from stool related ailments. Leading organizations within the market are set to focus on research for healthcare systems to offer increasingly effective treatment options for superior patient outcomes.
Some of the leading players in the stool management systems market include B. Braun Melsungen AG, Becton Dickinson, ConvaTec, Inc., Hollister Incorporated, Prosyn International Ltd., Consure Medical and others.
Key Questions Answered in the Report
- How much is the stool management systems market worth?
The stool management systems market will worth US$ 23487.3 Mn in the year 2021 supported by growing incidence of fecal incontinence, particularly among geriatrics.
- What was the last 5 year market CAGR in the stool management systems market?
Historically, the market has grown at a CAGR of 3% between 2016 and 2020.
- What are the key trends influencing the stool management systems market?
Research product innovation, adoption of artificial intelligence and machine learning technologies, and efforts towards cutting costs are key trends in the market.
- What is driving demand for stool management systems?
Rapidly growing population of older adults, awareness programs in developing countries, and affordable offerings with the incorporation of new technolgies will drive growth during the forecast years.
- What is the share of the top 5 players in the stool management systems market?
The cumulative market share of the top 5 players including B. Braun Melsungen AG, Becton Dickinson, ConvaTec, Inc., Hollister Incorporated, and Prosyn International Ltd.constitutes around 81% of the overall market.
- Which are the top 5 countries driving demand in the stool management systems market?
Germany, U.K., France, U.S. and Canada are the top 5 countries driving the demand for stool management systems.