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The Asia Pacific bowel management system market is predicted to project a CAGR of 3.93% during the forecast period, 2021-2028. The increasing healthcare reforms, technological advancements, and product launches by leading manufacturers, are facilitating the market growth.
Vietnam, India, Japan, Australia & New Zealand, China, South Korea, Indonesia, Thailand, and Rest of Asia Pacific, are assessed for the Asia Pacific bowel management system market growth analysis. According to a 2018 article, the pervasiveness of IBS (Irritable Bowel Syndrome) varies from 10% to 20%. The lack of proper sanitation and potable drinking water is responsible for most digestive disorders and water-borne diseases. The country also has a growing aging population, which further drives the market growth. In South Korea, as per a 2020 article, the recent incidence of IBD (Inflammatory Bowel Disease) has been the highest in East Asia. The economic burden of IBD is on the rise, with the prevalence recorded to be around 6.6%-8.0%. The rising aging population is resulting in an increased need for surgical procedures, thereby influencing the demand for bowel management system in the market.
The gastrointestinal tract is the most common in Vietnam. As per medical experts, around 70% of Vietnamese are at risk of gastrointestinal disease due to Helicobacter pylori (HP) infection. Also, approximately 10% of the population already have gastroesophageal reflux, abdominal distension, digestive disorders, constipation, etc. Moreover, the surging healthcare expenditure is set to contribute to market growth.
Some of the established players in the market include, Novartis AG, Medtronic PLC, GE Healthcare, Dentsply Sirona (Wellspect Healthcare), Laborie Inc (Cogentix), Hollister Inc, etc.
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