The Manometry System Market is on track for a significant expansion, driven by the rising demand for precise diagnoses of digestive disorders. According to a recent market analysis, the market is currently projected to generate US$184.18 million in sales by 2023. This positive trend is expected to continue, with the market flourishing at a Compound Annual Growth Rate (CAGR) of 5.4% and reaching an impressive US$311.64 million by 2033.
This phenomenal expansion is being driven by several significant variables influencing the landscape of the manometry system business. A large increase in the incidence of fecal incontinence and constipation, combined with an aging worldwide population, is driving the market’s increasing trend. Furthermore, continuing technical developments and ongoing healthcare infrastructure development are critical to the industry’s success.
The surge in cases related to constipation, fecal incontinence, anorectal pain, pelvic floor dyssynergia, and Hirschsprung’s among the elderly population is fueling the adoption of manometry systems. The increasing demand for these systems stems from their ability to evaluate patients, providing valuable data on anorectal function and indicating the prognosis of treatment, especially in managing sphincter injuries.
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Rising demand for non-invasive equipment is driving the demand for manometry systems. These systems are non-invasive diagnostic procedures that can detect pressures and sensations in the anus and rectum. With this, they indicate whether the patient’s pelvic function is normal without incision into the body or removal of tissue and has low risks, and complications.
Further, rising government initiatives and funding supporting the development of products are boosting the demand for the Global Manometry System Industry. Initiatives undertaken by the government to enable and boost the ecosystem for the indigenous medical device industry are also stimulating market growth.
“As demand for manometry systems is rising due to high prevalence of gastrointestinal diseases, key players are engaging in product development that is technologically advanced for faster approvals. This is expected to give the key players a competitive edge in the industry, generating revenues,” says the FMI Analyst
Key Takeaways from the Manometry System Market Study
- By product, system sheaths & catheters are expected to account for the largest share of 0% in 2021.
- In terms of portability, the stand-alone system will hold the largest share of 4 in 2021 on the back of its enhanced sensitivity to provide accurate diagnosis of the condition
- By end user, hospitals accounted for the largest share of 9 in 2021 owing to the rising demand for hospital stays that is short-term and an increasing number of gastrointestinal processes.
- North America is expected to hold the largest share of 38.9% in 2021 with the U.S. leading the market during the forecast period.
Who is Winning?
Some of the leading manufacturers of the manometry system market are focusing on product launch collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
Several joint ventures, agreements, and loan licensing procedures have influenced the market. The government of developing economies has taken several reforms to develop the market by regulating it to bring out more transparency and by allowing foreign investments in the industry.
New Product launches & approvals have emerged as key growth strategies adopted by the leading players in the manometry system market. Following this, the acquisition was the second most key strategy adopted by the industry players. By adopting these strategies, it helped the company to expand its regional presence as well as product offerings.
For instance,
- In October 2021, “UROTECH GmbH subsidiary of Medi-Globe Group provided detailed information on a new clinical study for using the Magnetic Black-Star® (MBS) in pediatric urology. The MBS was an innovative product of UROTECH GmbH, which is used in stent placement as well as stent removal of children without performing the surgeries using the stent’ magnetic tip.”
- In May 2020, RMS Medical Devices proudly announced its acquisition of QUICKORE products for BENELUX. With this new acquisition, RMS Medical Devices adds another premium technology to its Radiology portfolio.
- In October 2020, LABORIE Medical Technologies entered into a strategic partnership with Urotronic to support regulatory approval of Optilume, a drug-coated balloon (DCB) technology for use in urethral strictures and benign prostatic hyperplasia (BPH).
- In August 2021, Medtronic Announced the FDA Approval of the Next-Gen TAVR System for the treatment of symptomatic severe aortic stenosis. Next-Gen TAVR System is a self-expanding transcatheter aortic valve replacement, which is designed to enhance ease of use and predictable valve deployment throughout the procedure.
The key market players covered by FMI include EB Neuro S.p.A, MEDSPIRA, Medtronic, Medica S.p.A., RMS Medical Devices, MARQUAT Génie Biomédical, Diversatek Inc., Dentsleeve International Ltd., LABORIE, Prometheus Group, Smart Medical Group, Synectics Medical Limited, Medovations Inc., Sierra Scientific, and Urotech Gmbh.
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Key Segments of the Manometry System Market by Category
Product:
- Anorectal Manometry System
- Anorectal Manometry System Software
- Anorectal Manometry System Sheath & Catheters
Portability:
- Stand Alone System
- Portable System
End User:
- Hospitals
- Diagnostic Centers
- Specialty Clinics
- Academic Research Institutes
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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