Increasing prevalence of chronic diseases related to otoneurology, gastrointestinal tract, orthopedic disorders and nephrology related disorders are expected to drive demand in the fluid management systems market over the forecast period. Some other major drivers expected to fuel the growth of this market are increasing demand for noninvasive and minimally invasive surgeries, introduction of novel fluid management and visualization systems, rising government support in healthcare, growing healthcare infrastructure and growing medical reimbursement facilities. Additionally, rising disposable income particularly in developing nations is also expected to increase expenditure towards healthcare sectors and novel technologies. Rise in the use of disposable devices and instruments also a notable shift in trend anticipated to provide lucrative growth opportunity through to 2022.
The global fluid management system market is segmented on the basis of product, application and visualization systems with their accessories. Various products offered in the fluid management system market are integrated and standalone systems which include fluid warming systems, dialyzers, fluid waste management, evacuation and insufflators among others. The disposables and accessories for these systems include tubing sets, pressure monitoring lines, bloodlines, pressure transducers, suction canisters, catheters, cannulae, valves, connectors, & fittings. A general shift in trend has been witnessed from standalone to integrated systems and it is expected that the latter will witness a steady rise in demand over the forecast period. Fluid management systems find applications in urology, dental, gastroenterology, anesthesiology, gynecology/obstetrics, otoscopy, laryngoscopy, laparoscopy, neurology, arthroscopy, cardiology, bronchoscopy for functions like fluid irrigation, pressure monitoring, fluid deficit monitoring, suction, fluid warming, fluid waste collection and fluid filtration during the aforementioned procedures. These systems are used in endoscopic cameras, light cables, monitors and display systems, video processors, carts, medical grade printers, camera heads, video converters, endoscopic light sources, and transmitters & receivers as either integrated functionalities or standalone equipment. Single chip cameras, HD cameras and 3D cameras which are sub-classifications of endoscopic cameras together form the most lucrative segment of the market in terms of revenue 2014. This large share is attributed to the increasing demand of cameras for visual internal diagnosis of patients due to the ease and accuracy provided in forming the medical opinion using these approaches. Cardiology, neurology and dental applications of fluid management systems accounted for the largest share of the revenue for the market and it is expected that these segments will witness a considerable growth in demand throughout the forecast period.
The largest share of revenue for 2014 was generated in North America owing to rapid advancement in technology; high medical reimbursement facilities and increasing demand for minimum stay in hospitals. The ongoing R&D for novel portable endoscopic systems and growing prevalence of chronic cardiac, dental and neurological diseases are expected to drive demand for the market in this region. Asia Pacific is expected to grow at the highest CAGR owing to an increase in healthcare infrastructure, high demand for minimal invasive surgeries and rising research activities on endoscopic cameras particularly in Japan. Some key participants in the global fluid management system market are Angiodynamics Inc., Zimmer Holdings Inc., Richard Wolf GmbH, Smiths Medical, Smith & Nephew Plc., B. Braun Melsungen AG, Stryker Corporation, Cardinal Health, Cardinal Health, Karl Storz GmbH & Co. Kg and Ecolab Inc.
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