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North America Bowel Management System Market Forecast 2021-2028

KEY FINDINGS
The North America bowel management system market is registered to project a CAGR of 2.47%, during the forecast period of 2021 to 2028. The surging geriatric population and consistent research and development towards innovative bowel management system devices for fecal management, are expected to reinforce the region's market growth.

MARKET INSIGHTS
The North America bowel management system market growth is analyzed by assessing Canada and the United States. Canada harbors a significant number of patients with irritable bowel syndrome (IBS). This is attributed to the increasing number of individuals suffering from chronic pain, seeking analgesics, such as opioids, in order to eliminate non-cancer, and other kinds of pain. Moreover, healthcare spending, as a share of Canada's gross domestic product (GDP), observes a growing trend. In this regard, healthcare spending constituted more than 11.5% of the country's GDP, in 2019.
Also, Canada's growing aging population is projected to play an essential role in driving market growth. For instance, according to the Government of Canada Statistics report, Canada's older population was 6,592,611, accounting for 17.5% of the country's population, as of 2019. Besides, the proportion of seniors susceptible to chronic conditions like irritable bowel syndrome (IBS), has been considerably rising, since recent years. Canada also holds the highest incidence rates of IBS, worldwide, with nearly 5 million citizens suffering from it. In addition, the sex ratio for IBS patients in the country is seven females to two males. Therefore, these factors are expected to fuel the country's bowel management system market growth, during the forecast period.

COMPETITIVE INSIGHTS
Some of the key companies operating in the market are, 3M Company, Axonics Modulation Technologies Inc, ConvaTec, Hollister Inc, etc.

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North America Bowel Management System Market Forecast 2021-2028
Published By :Inkwood Research
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