Fluid Management Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Fluid Management Devices Market: Snapshot
Global fluid management devices market is expected to see a steady rise in demand during the forecast period from 2017 to 2025. Fluid management, which is a prescribed by the junior doctor working on a surgical firm to a dehydrated patient or a patient with a nil-by-mouth, is the most discussed topic among the junior doctors on a regular basis. Proper management of fluid in a human body has a significant impact on a person’s stay in hospital after a surgery. Increasing trend in the open surgical procedures happening in a hospital due to increasing number of harmful diseases has steered the rise in demand for the market.
Recent technological advancements in the world of healthcare has triggered the growth of the market. Increasing awareness in the healthcare sector has played an imperative role by increasing the demand for fluid management devices. Furthermore, the rising incidence of hospital acquired infections due to cross contamination risks has increased the demand for single-use devices. This in turn bodes well for the future of the world fluid management devices market.
An important factor that leads to the growth of the market is the increase incidence of chronic diseases such as neurology, cardiac, obesity, and urology. The market is segmented in based on four parameters, which are product type, region, end user, and application. Based on the product type the market is divided into fluid management disposables & accessories, and fluid management system. Fluid management systems are further separated into fluid management disposables & accessories, and standalone fluid management system. On the basis of application, the world market is divided into laparoscopy, bronchoscopy, cardiology, urology, obstetrics or gynecology, neurology, otoscopy, and others. The market is divided into North America, Asia Pacific, LAMEA, and Europe. It is estimated to grow in countries such as India, USA, and Japan.
Global Fluid Management Devices Market: Overview
Fluid management devices are safe and computer-driven systems that help to balance body fluids for avoiding complications related to inappropriate disposal of fluids, fluids with diverse temperatures, unwanted fluid levels, and irregular flow of fluids. A snowballing demand on the part of fluid management devices is anticipated to take shape because of a rising count of minimally invasive and open surgical procedures conducted in advanced healthcare settings. Besides fluid management systems, fluid management accessories, disposables, and instruments could be increasingly demanded in the healthcare industry.
Global Fluid Management Devices Market: Key Trends
One of the primary growth factors of the world fluid management devices market is prognosticated to be the recent developments in healthcare infrastructure. The credit of the rising demand in the world fluid management devices market could be given to an increase in the number of healthcare service providers. Healthcare service providers are expected to be benefited by private equity and foreign direct investment, external aid and borrowing, non-government funds, capital markets, and domestic and private investments facilitating an unchallenging access to funds. Factors such as availability of technologically developed equipment, social and public insurance, and government programs and policies backing up the availability of medicines could help healthcare service providers to gain traction.
The towering trend of single-use devices on account of cross-contamination risks causing nosocomial and hospital-acquired infections (HAIs) is prophesied to bode well for the future of the world fluid management devices market. While ambulatory surgical centers (ASCs) and hospitals are envisaged to be major end users in the world fluid management devices market, the latter could register a stronger share during the forecast period. This could be due to a telling increase in fluid waste quantity and frequency in multi-specialty hospitals and those which operate via private entities or under government sponsorship.
Global Fluid Management Devices Market: Market Potential
In April 2017, Overlook Medical Center, an extended arm of Atlantic Health System, won two environmental excellence awards from environmental sustainability in health care organization, Practice Greenhealth. The hospital was honored with the Greenhealth Emerald Award for its environmental achievements in healthcare and Greening the OR Award for reducing the impact of its surgical suites on the environment. The dual awards won by the hospital are accredited to its improved recycling efforts and installation of a fluid management system.
Global Fluid Management Devices Market: Regional Outlook
During the course of the forecast period, the Americas are foretold to dominate the international fluid management devices market owing to the high rise of the incidence of chronic diseases such as urology, obesity, cardiac, and neurology. The growth in this fluid management devices market could aggravate due to the surging need for arthroscopy and other types of devices employed in ASCs and hospitals. The Americas and Europe are envisioned to testify an upsurge in penetration rates due to a significant focus on the advancement of single-use devices. The penetration rates could also be improved because of the enhancement of healthcare facilities supported by tight government and regulatory initiatives.
Global Fluid Management Devices Market: Competitive Landscape
The presence of tier 1, 2, and 3 companies in the worldwide fluid management devices market is foreseen to encourage a highly competitive scenario. Vendors operating in the worldwide fluid management devices market could look to offer a broad scope of reusable and single-use consumables and integrated fluid management and standalone devices with a multitude of features. Stryker, Smiths Medical, Olympus, Fresenius Medical Care, and CONMED are some of the key participants in the worldwide fluid management devices market.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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