Global Fluid Management Devices Market 2017-2021
About Fluid Management Devices
A fluid management device is primarily used to balance body fluid to prevent complications associated with the improper flow of fluids, undesired fluid levels, fluids with different temperature, and improper disposal of fluids. It is designed to manage the patient's fluid levels internally and externally through a safe, effective, and accurate process. The fluid level varies due to dialysis, surgical fluid, body fluid management, contrast media, and waste fluid management used in diagnostic and interventional procedures. The system is equipped with different equipment and consumables or is a standalone device such as dialysis machines and pumps, which are used to manage body fluids.
Technavio’s analysts forecast the global fluid management devices market to grow at a CAGR of 6.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fluid management devices market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fluid Management Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global fluid management devices market: CONMED, Fresenius Medical Care, Olympus, Smiths Medical, and Stryker.
Other Prominent Vendors in the market are: Allen Medical Systems, Allied Healthcare, Andocor, AngioDynamics, Argon Medical Devices, B. Braun, Baxter, Bemis Manufacturing Company, Biomerics, C. R. Bard, Cardinal Health, DeRoyal Industries, Ecolab, Gambro, KARL STORZ, KAWASUMI LABORATORIES, Medical Components, Medtronic, Merit Medical Systems, Navilyst Medical, Nikkiso, Nipro Medical Corporation, NxStage Medical, Precision Medical, Skyline Medical, Smiths Group , LivaNova, Teleflex, Terumo Medical Corporation, and Zimmer Biomet.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing shift toward integrated fluid management systems. Though, there are certain advantages of standalone fluid management systems in terms of operability and mobility, these devices are unable to perform multiple processes during surgeries compared with integrated fluid management devices. These integrated systems have better productivity with multiple surgical processes that are featured to perform direct drainage, an easy package of fluid canisters, automatic collection of discharge fluid, and disposal of fluids.”
According to the report, one driver in market is increasing number of chronic diseases leading to hospitalization. A sedentary lifestyle negatively affects the homeostasis of the body, making people susceptible to many disorders such as CVDs, diabetes, chronic obstructive pulmonary disease (COPD), end-stage renal disease (ESRD), urology disorders, and other chronic illnesses. Treatment of all these diseases has become critical, leading to increasing usage of fluid management devices during surgeries. According to the CDC, about 75 million American adults, which is about 29% of the overall population, have high blood pressure and there were more than 360,000 deaths recorded in 2013. It also shows that 51% deaths were caused because of stroke and the rest due to cardiac disorders. Diabetes causes greater complications with CVD. These chronic diseases require diagnosis and treatment to monitor the severity of the patient's medical condition daily and maintain medical health records.
Further, the report states that one challenges in market is high cost coupled with limited budget factors. Healthcare systems and hospitals are under constant pressure to deliver quality care at low cost. However, this has become difficult due to the growing adoption of advanced MI procedures that involve the use of sophisticated devices. Hospitals and healthcare institutions need to consider various procurement processes and budget allocation considerations before purchasing surgical devices in performing general surgeries for treating chronic disorders. Globally, the governments of many countries are increasingly working toward lowering healthcare expenses that have led medical facilities to operate on a limited budget. Medical facilities need to consider budget allocation and evaluate surgical procedures before making any purchase decision. These facilities consider fluid management devices as capital items. Maintenance of this equipment also adds up to the overall financial expenses of medical facilities. Also, the sales of this equipment are dependent on replacement purchases, especially in the developed countries.
CONMED, Fresenius Medical Care, Olympus, Smiths Medical, Stryker, Allen Medical Systems, Allied Healthcare, Andocor, AngioDynamics, Argon Medical Devices, B. Braun, Baxter, Bemis Manufacturing Company, Biomerics, C. R. Bard, Cardinal Health, DeRoyal Industries, Ecolab, Gambro, KARL STORZ, KAWASUMI LABORATORIES, Medical Components, Medtronic, Merit Medical Systems, Navilyst Medical, Nikkiso, Nipro Medical Corporation, NxStage Medical, Precision Medical, Skyline Medical, Smiths Group , LivaNova, Teleflex, Terumo Medical Corporation, and Zimmer Biomet.
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