Stool Management Systems Market Top Key Company Profiles – B. Braun Melsungen AG, Becton Dickinson, ConvaTec, Inc., Hollister Incorporated, Prosyn International Ltd., Consure Medical
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.
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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.
Key Takeaways from Stool Management Systems 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.
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.
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Want More Insights?Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels that provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global stool management systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the stool management systems market on basis of the product type in detail, cover every aspect of the market such as systems, accessories and major regions.
Stool Management Systems Market by CategoryProduct Type
- External Management Systems
- Indwelling Collection Systems
- With Irrigation
- Without Irrigation
- Catheter Tubes
- Luer-Lock Syringe
- Collection Bag with Filter
- Clinch Clamp
- North America
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.