Global Fluid Management Systems market size, share, growth, trends, opportunity and forecast to 2027
Noida, Uttar Pradesh, India, April 6 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The growth in minimally invasive surgeries, technological fluid management systems advancements, the rise in government funds and grants for endosurgical procedures worldwide, increasing ESRD patient base, and rising number of hospitals and investments in endoscopy and laparoscopy facilities are the main driving factors for the market’s growth over the forecast period. Emerging markets and single-use disposable devices and accessories are expected to provide significant opportunities for fluid management systems and accessories providers. On the other hand, the high endosurgical procedure cost, a lack of awareness, and sufficient surgeons’ dearth may negatively affect market growth during the forecast period. Following these promising developments, the Global Fluid Management Systems Market is estimated to see healthy growth, pegged at a CAGR of around 13.1% throughout the forecast period 2020-2027.
Rising Number of Minimally Invasive Surgeries Worldwide
Compared to open surgeries, minimally invasive surgeries are associated with a wide range of advantages—fewer postoperative complications, lower risks of surgical site infections, and shorter recovery periods (shorter hospital stay). Many minimally invasive surgeries are considered outpatient surgeries in which the patient does not need to stay overnight in a medical facility. According to Surgical Solutions, US hospitals could collectively avoid thousands of post-surgical complications and save around USD 280–340 million every year by opting for minimally invasive surgeries as an alternative to open surgery for the colon’s routine operations, appendix, and lungs.
According to the American Association of Pharmaceutical Scientists, minimally invasive surgeries are also increasingly being covered by health insurance providers in various countries globally. Due to their advantages, many patients and physicians opt for minimally invasive surgeries over other surgical procedures. Over 7.5 million surgical and minimally invasive cosmetic procedures were performed in the US as of 2017; this is projected to rise by 2% per year.
Therefore, the growing number of minimally invasive cancer treatment procedures can also contribute to the fluid management systems demand globally.
Untapped Potential Fluid Management Systems in Developing Markets
Developing countries (such as China, South Korea, India, Brazil, and Mexico) offer significant growth opportunities to companies operating in the global fluid management systems market. This can be attributed to the increasing private and public initiatives undertaken by market stakeholders across these emerging countries, low regulatory barriers for trade, continuous healthcare infrastructure improvements, rising healthcare expenditure, growing patient population, and the rising medical tourism in these countries. Also, the availability of high-quality surgical treatments at lower costs than developed markets has attracted many medical tourists. Such factors are expected to create untapped growth potential fluid management systems in developing markets during the forecast period.
Segmentation Overview of the Global Fluid Management Systems Market
The fluid management systems market has been segmented into Type, Application, and End User. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook
Standalone Fluid Management Systems (Dialyzers, Insufflators, Suction/Evacuation and Irrigation Systems, Fluid Warming Systems, Fluid Waste Management Systems, Others)
Integrated Fluid Management Systems
By Application Outlook (Urology and Nephrology, Laparoscopy, Gastroenterology, Gynecology / Obstetrics, Bronchoscopy, Arthroscopy, Cardiology, Neurology, Otoscopy, Dentistry, Others)
By End User Outlook (Hospitals, Dialysis Centers, Ambulatory Surgical Centers, Others)
Key Players Insights
Angiodynamics Inc., Richard Wolf GmbH, Zimmer Holdings Inc., Smiths Medical, Cardinal Health, Smith & Nephew Plc., B. Braun Melsungen AG, Cardinal Health, Karl Storz GmbH & Co. Kg, Stryker Corporation, and Ecolab Inc., among others, are the significant primary players included in the global fluid management systems market research study.
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