Fluid management systems play a crucial role in medical procedures by regulating fluid flow and pressure during surgeries and other medical applications. They find widespread adoption in urology, gastroenterology, laparoscopy, and other procedures due to their ability to efficiently remove fluids, maintain a clear field of vision for surgeons, and prevent water intoxication. The growing prevalence of chronic diseases and number of surgical procedures performed annually has significantly boosted demand for reliable and high-precision fluid management systems.
The global Fluid Management System Market is estimated to be valued at US$ 12.41 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological innovation is one of the key trends fueling growth in the fluid management system market. Manufacturers are developing novel systems integrated with advanced functionality to simplify complex medical procedures. For instance, the introduction of portable, battery-operated fluid management systems have enabled their usage in ambulatory surgical centers and emergency rooms. Adoption of IoT sensors is also gaining traction as they help monitor fluid levels in real-time and improve workflow efficiency. Rising demand for multi-functional devices with features such as suction and irrigation is compelling vendors to integrate new technologies in their product offerings. This is expected to further augment demand over the forecast period.
Segment Analysis
The global fluid management system market is dominated by the dialysis fluid management sub segment. Dialysis fluid management helps in treatment of patients undergoing hemodialysis and peritoneal dialysis. It ensures appropriate fluid balance and removal of waste and toxins from the blood. The sub segment accounts for over 65% share of the total fluid management system market owing to the large patient base undergoing dialysis treatment globally and the need for precise fluid balance during the procedure.
Key Takeaways
Global Fluid Management System Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach a size of US$ 12.41 Bn by 2024, expanding at a CAGR of 6.6% during the forecast period.
Regional analysis: North America currently dominates the global fluid management system market with over 30% share. This can be attributed to presence of numerous key players and rising cases of kidney diseases in the region. However, Asia Pacific is expected to witness fastest growth during the forecast period supported by increasing healthcare expenditure, large patient population and growing medical tourism in the region. Countries like India, China and Japan are expected to offer lucrative opportunities.
Key players operating in the fluid management system market are Dentsply Sirona, Ivoclar Vivadent, Modern Dental, 3M, Glidewell, Danaher, Zirkonzahn, Amann Girrbach, Coltene, Pritidenta. Dentsply Sirona currently holds largest market share owing to their comprehensive product portfolio and global brand presence. Ivoclar Vivadent follows next and is dominating the premium dental crowns and bridges segment.
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