Global Fluid Management Systems Market – Industry Trends and Forecast to 2024
Market Analysis: Global Fluid Management Systems Market
The Fluid Management Systems Market accounted to USD 9.78 billion in 2016, growing at a CAGR of 6.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Fluid Management Systems Market
Fluid management system is proposed to monitor and control the utilization and inventory balances of automotive fluid products. Fluid management is a serious part of diagnostic and interventional angiographic procedure. This minimizes the programming and installation costs. It minimizes the operation cost, medication cost and control & reduce wastage. Rise in in the quantity of social healthcare service providers boosts the fluid management system market.
Major market drivers and restraints: Global Fluid Management Systems Market
- Increase in number of minimally invasive surgeries
- Technological advancements in fluid management systems
- Increasing incidences of digestive, respiratory, neural & reproductive system diseases
- Growth in government grants and funds for endosurgical procedures
- Favorable reimbursement policies
- Single-use disposable devices and accessories are raising
- Lack of skilled professionals
- High price of endosurgical procedures
- Lack of awareness towards diseases
Market Segmentation: Global Fluid Management Systems Market
The fluid management systems market is segmented by product fluid management systems and fluid management disposables & accessories. Fluid management systems are further segmented into standalone fluid management systems and integrated fluid management systems. Standalone fluid management systems are again sub segmented into dialyzers, insufflators, suction or evacuation & irrigation systems, fluid waste management systems, fluid warming systems and others. Fluid management disposables and accessories are again sub segmented into catheters, bloodlines, tubing sets, pressure monitoring lines, pressure transducers, valves, connectors & fittings, suction canisters, cannulas and others.
By application the market is segmented into urology, gastroenterology, laparoscopy, gynecology or obstetrics, bronchoscopy, arthroscopy, cardiology, neurology, otoscopy, dentistry and anesthesiology.
On the basis of geography, fluid management systems market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Fluid Management Systems Market
The fluid management systems market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fluid management systems market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Fluid Management Systems Market
Some of the major players operating in fluid management systems market are Baxter, B. Braun Melsungen AG, Stryker, Angiodynamics, Inc., Cardinal Health, Inc., Olympus Corporation, Smiths Group plc, Zimmer Biomet, Fresenius Medical Care AG & Co. KGaA, KARL STORZ GmbH & Co. KG, Ecolab, Medtronic, Johnson & Johnson Services Inc., BD, Acacia Communications, ALCOR Scientific, Pfizer Inc., Richard Wolf GmbH, F. Hoffmann-La Roche Ltd. among others.