The global manometry systems market size was valued at US$ 157.3 million in 2020 and is expected to grow to US$ 279.6 million by 2031, with a projected CAGR of 5.4%, according to Future Market Insights. The key drivers driving the manometry system market are the rising incidence of faecal incontinence and constipation, an ageing population, technological improvements, and the expansion of healthcare infrastructure.
The adoption of manometry systems is increasing among the older population, as the incidence of constipation, fecal incontinence, anorectal pain, pelvic floor dyssynergia, and hirschsprung’s rises. These systems provide valuable data on anorectal function and treatment prognosis, especially in sphincter injury management.
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The demand for non-invasive equipment is driving the demand for manometry systems, as they are diagnostic procedures that can detect pressures and sensations in the anus and rectum without incisions or tissue removal, resulting in lower risks and complications.
Moreover, the demand for manometry systems is being boosted by government initiatives and funding that support product development. Government initiatives aimed at enabling and enhancing the ecosystem for the domestic medical device industry are also fueling market growth.
Key Takeaways from Manometry System Market Study
- By product, system sheath & catheters is expected to account for the largest share of 55.0% in 2021.
- In terms of portability, stand-alone system will hold for the largest share of 55.4% in 2021 on the back of its enhanced sensitivity to provide accurate diagnosis of condition
- By end user, hospitals accounted for the largest share of 37.9% in 2021 owing to the rising demand for hospital stay that is short-term and increasing number of gastrointestinal processes.
- North America is expected to hold largest share of 38.9% in 2021 with the U.S. leading the market during the forecast period.
“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
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Who is Winning?
Some of the leading manufacturers of 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 strategy adopted by the leading players in the manometry system market. Followed by this, acquisition was the second most key strategy adopted by the industry players. By adopting these strategies, it helped the company to expand their regional presence as well as product offerings.
For instance,
- In October 2021, “UROTECH GmbH subsidiary of Medi-Globe Group’s provided detailed information on a new clinical study for using the Magnetic Black-Star® (MBS) in paediatric urology. The MBS was an innovative product of the UROTECH GmbH, which is used in stent placement as well as stent removal of children by without performing the surgeries using the stent’ magnetic tip.”
- In May 2020, RMS Medical Devices, proudly announced it’s the 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 enters into 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 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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Manometry System 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
- Speciality Clinics
- Academic Research Institutes
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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