According to the latest research by Future Market Insights, Bowel Stimulators market is set to witness a 6.3% growth during the year 2021-2031. The market has been developing at a gradual rate and is projected to witness lucrative growth due to increasing number of population suffering from Overactive Bladder (OAB) and rising cases of urge incontinence, like Urinary Tract Infection (UTI). In addition, advancements in technology and development of lesser invasive procedures is likely to fuel the market demand.
What is Driving Demand for Bowel Stimulators?
A rise in disposable income, surge in incidences of Overactive Bladder, UTI and similar disorders, and development of minimally invasive procedures are primary factors boosting the market.
In addition, governments of various nations are taking initiatives to make sure that a most of the population has accessibility to inexpensive healthcare. Also, reimbursement programs of insurance companies have become promising. These factors are expected to lead to market growth.
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Also, the growing geriatric population and the associated disorders re expected to increase the demand for of bowel stimulators.
Growing incidence of urge incontinence, likely to increase the Bowel Stimulators Sales
The rising incidence of urge incontinence, like urinary tract infection (UTI) and growing occurrence of overactive bladder conditions, are the major factors responsible for the development of the market.
In addition, the increasing occurrence of fecal incontinence and the presence of medical reimbursements are certain other factors driving the market demand. According to an article published in 2019, in the Indian Journal of Community Medicine, the incidence of urinary incontinence in postmenopausal women between 45-90 years of age was about 26.47%. Besides, urinary incontinence has a considerable impact on mental and social health, which can be overcome by suitable treatment of these incontinence disorders.
US and Canada Bowel Stimulators Market Outlook
United States and Canada dominate the Bowel Stimulators market. The market is projected to witness considerable growth due to the availability of well-developed healthcare facilities, rising awareness about the prevalence and treatment of overactive bladder conditions and rapid adoption of developed medical products.
As per the CMS (Center for Medicare and Medicaid Services), urinary incontinence impacts about 13 million adults, generally women, in U.S. Bowel stimulators bring about considerable improvement in improving the quality of life for affected patients. Hence, rising incidence of fecal incontinence is likewise anticipated to boost the market in US.
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Europe Demand Outlook for Bowel Stimulators
Europe is second dominating market and is projected to register a noteworthy growth owing to the growing geriatric population in Europe, increasing product launches, and growing healthcare expenditure in the region.
Also, the rising cases of fecal incontinence, is likely supporting the market development. As per the international neuromodulation society, in the U.K., one of the studies demonstrates that most of the elderly population are impacted by fecal incontinence.
Who are the Key Manufacturers and Suppliers of Bowel Stimulators?
Some of the leading manufacturers and suppliers of
- Bowel Stimulators include Medtronic PLC
- Axonics Inc.
- Cogentix Medical
- Laborie Inc.
- B. Braun
- Cyberonics and others.
The Bowel Stimulators market is moderately competitive, with the presence of a numerous major players. New product development and launches supports organizations with increasing their market share and current product portfolio. Additionally, major players are investing greatly in the research and development to manufacture advanced products.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Bowel Stimulators Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint