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Factors such as increasing number of minimally invasive surgeries, technological advancements in fluid management system, and increase in government funds and grants worldwide for endosurgical procedures are driving the Fluid Management Systems Market.
What The Experts Says about the Market Growth?
The fluid management systems and accessories market is projected to reach $12.47 Billion by 2021 from USD 9.39 Billion in 2016, at a CAGR of 5.8%.
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Based on the product type, the fluid management systems and accessories is segmented into fluid management systems and fluid management disposables & accessories. In 2015, the fluid management systems accounted the largest share of the market. The large share of this segment is mainly attributed to rising number of minimally invasive surgeries and high adoption of these systems in hospitals.
Furthermore, the fluid management systems segment is sub-divided into integrated fluid management systems and standalone fluid management systems. The standalone systems accounted the largest share of fluid management systems in 2015. The large share of this segment is mainly attributed to the increase in geriatric population, increase in the number of end-stage kidney patients and high adoption of these systems in hospitals over integrated fluid management systems. Among application segments, urology accounted the largest share while, laparoscopy is growing with the highest CAGR.
North America was the major market for fluid management systems and accessories followed by Europe and Asia-Pacific. The large share of this region can be attributed to the growth in aging and chronically ill population, increasing number of minimally invasive surgeries, growth in the number of dialysis centers, rising usage of single-use disposable accessories, and advancements in technologies. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
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Key Market Players:
Some of the major players operating in the fluid management systems and accessories market include Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (U.S.), B. Braun Melsungen AG (Germany), Stryker Corporation (U.S.), Olympus Corporation (Japan), Ecolab Inc. (U.S.), Cardinal Health, Inc. (U.S.), Smiths Medical (U.K.), KARL STORZ GmbH & Co. KG (Germany), Zimmer Biomet Holdings Inc. (U.S.), AngioDynamics, Inc. (U.S.), and Karl Storz GmbH & Co. KG (Germany).