LONDON--(BUSINESS WIRE)--The global fluid management devices market is projected to grow to USD 12.85 billion by 2021, at a CAGR of more than 6% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global fluid management devices market for 2017-2021. Based on the product type, the market is divided into systems and instruments; and disposables and accessories segments.
|A fluid management device is used to balance body fluid to prevent complications associated with the improper flow of fluids, undesired fluid levels, fluids with different temperatures, and improper disposal of fluids. The rise in the number of surgical procedures, both open and minimally invasive, due to improved healthcare infrastructure is resulting in increased demand for fluid management devices.|
Technavio’s research study segments the global fluid management devices market into the following regions:
Fluid management devices market in the Americas
“The Americas dominate the fluid management devices market, occupying over 48% of the overall shares. The rising number of cardiac, obesity, urology, neurology, and arthroscopy surgeries is driving the growth of the market segment,” says Barath Palada, a lead analyst at Technavio for medical devices research.
A significant portion of healthcare workers (HCWs) in the US and Canada are increasingly adopting standalone and integrated fluid management devices, which is creating a steady revenue stream for the market. Also, efforts and initiatives undertaken by various government organizations have increased end-user’s awareness about the impact of fluid waste in the environment.
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Fluid management devices market in EMEA
The rising number of surgical procedures in EMEA is one of the key factors driving the growth of the fluid management devices market in the region. Currently, the market is witnessing steady growth, driven by an increase in the number of patients suffering from gastrointestinal, respiratory, orthopedic, urological, and neurological disorders. Additionally, the rising geriatric population and the increase in the public spending on healthcare are other factors boosting the market segment.
Fluid management devices market in APAC
“APAC is projected to be the fastest-growing regional segment of the global market, showcasing a CAGR of over 8% through 2021. The swift growth can be attributed to the high demand for fluid waste management devices,” says Barath.
The increase in the volume of fluid waste generated from hospitals, clinics, blood banks, research institutes, and diagnostic laboratories create the need for fluid waste management devices. The vendors are trying to increase their shares in emerging countries such as India and China because of the high patient pool suffering from various chronic diseases.
The top vendors in the global fluid management devices market highlighted in the report are:
- Fresenius Medical Care
- Smiths Medical
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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